Nearly $500bn ‘lost to tax abuse’ by companies and elites in 2021 November 16, 2021 Countries have lost $483bn to tax abuse by multinationals and ultra-wealthy individuals, with the UK singled out as the world’s greatest enabler of global corporate tax abuse, according to a new report. The State of Tax Justice 2021 report found that the UK was responsible for nearly 40 per cent of the total losses this [...]
Big Four accountants warned by regulator to improve audits November 16, 2021 The head of the UK accounting watchdog has told the Big Four audit firms they need to run their own businesses better, before advising other companies, according to reports. Sir Jon Thompson, chief executive of the Financial Reporting Council (FRC) made his remarks ahead of the regulator’s launch today of its first guide for accountants [...]
Top accountancy firms more likely to hire white applicants November 12, 2021 White applicants are more likely to be successful when applying for jobs in the top UK accountancy firms, over those from ethnic minority or lower socio-economic backgrounds, according to a new report. The report, published today, by charity Access Accountancy looked at the socio-economic backgrounds of people who applied for jobs at ten accounting companies, [...]
BDO launches anonymous whistleblowing app November 11, 2021 Accounting firm BDO has launched BDO Tipoffs, a mobile app, to allow whistleblowers at client companies to report misconduct anonymously, according to reports. The firm’s new app, launched yesterday, is free to download and use on android and apple smartphones, according to South African publication Engineering News, which first reported the news. Currently organisations must [...]
Uber fares to jump 10 per cent in London November 11, 2021 Uber will increase prices by 10 per cent for Londoners, in an effort to woo drivers back to the ride hailing platform, according to reports. The blanket rise marks the first time Uber has raised its prices in London since 2017, according to the Evening Standard, which first reported the news. Drivers were reportedly told [...]
KPMG faces £15m fine over Quindell audit November 10, 2021 Accounting giant KPMG could be confronted with a £15m legal claim from insurance outsourcer Quindell, according to reports. Quindell, now known as Watchstone, is preparing to file claims against the Big Four firm, alleging that it suffered losses of up to £15m from KPMG’s audit in 2013, according to Financial News, which first reported the [...]
Insurance body ABI names Nicky Morgan new chair amid management shake up November 10, 2021 Former MP Nicky Morgan has been appointed as the first independent chair of the Association of British Insurers (ABI), as the trade body overhauls its management. Two more senior appointments were today announced by the ABI, whose members include Aviva and Axa, as part of reforms by the organisation to improve consumer trust in the [...]
City law pay war: Akin Gump hikes trainee salaries close to £63k November 10, 2021 Akin Gump has upped salaries for trainee solicitors in London by almost 15 per cent according to reports, as the pay war for young lawyers heats up. The salary boosts by the US firm, which has offices in London, will take effect from the new year, according to Legal Cheek, which first reported the news. [...]
EY partner keeps job after lewd comments to trainee November 9, 2021 An EY partner has escaped being stricken off, after telling a female trainee “I’ll be bashing you from behind this afternoon,” on a company skiing trip, according to reports. Neil Hutt was found to have behaved in an “obscene and aggressive” manner, by a disciplinary hearing into the 51-year-old’s behaviour at an annual company trip [...]
Lottery scammers impersonate Simmons & Simmons staff November 9, 2021 Fraudsters have used the name of Simmons & Simmons in a hoax to convince victims they have won the lottery, in the latest scam using City law firms. The scam phone calls from people purporting to be at Simmons & Simmons prompted the Solicitors Regulation Authority (SRA) to issue an alert last week warning members of [...]
