Accountancy

Paul Reeves, managing director at restructuring advisory Kroll, discusses the intricacies of pre-pack administrations. Ever since the administration process became the key business rescue process over two decades ago, the pre-pack administration has suffered a tarnished reputation. Legislation has i

The Executive Counsel of the Financial Reporting Council (FRC) has imposed sanctions against KPMG and Anthony Sykes, an audit engagement partner, in relation to the statutory audit of the consolidated financial statements of Rolls-Royce Group plc for the financial year ended 31 December 2010. The fi

Audit, tax and consulting firm RSM UK has moved into a new office in the heart of Edinburgh’s business district to deliver a sustainable, hybrid working environment to support RSM’s future growth. The firm has taken the third floor of 2 Semple Street, relocating around 100 people into fl

The cost of living has become the leading concern among Gen Zs and millennials in the UK, according to Deloitte’s latest Gen Z and Millennial Survey. A total of 31% of Gen Zs and 38% of millennials cited this as their greatest concern, overtaking climate change from the top spot in last year&r

Anderson Anderson & Brown (AAB), the tech-enabled business-critical services group, has announced the appointment of Doug Michael as partner and United States (US) tax practice Lead, based in the business’ London office. Mr Michael joins AAB to launch a brand-new US tax service as part of

Company directors who either commit VAT fraud or fail to demonstrate procedures to prevent VAT fraud in the supply chain are being targeted by HMRC with a trader monitoring campaign shaped by The Kittel Principle. This principle defines whether a director has been fraudulent, knew about a fraud or,

Research from Grant Thornton UK's latest Business Outlook Tracker shows that over half (52%) are finding it harder to operate their business today, compared to 12 months ago. To manage cost pressures, 61% of respondents said that their suppliers have agreed to more flexible (longer) payment terms, a

The Institute of Chartered Accountants in England and Wales (ICAEW) is set to receive the entire £14.4 million fine imposed on KPMG last week for its role in the Carillion scandal. Last week, Scottish Financial News reported that KPMG was set to be fined after a Financial Reporting Council (FR

The UK is expected to become the first large European economy to reach pre-pandemic levels of corporate insolvencies as COVID-19 crisis support is wound down and rising levels of inflation threaten firms. According to credit insurer Allianz Trade, corporate insolvencies will soar by 37% this year. T

Most employers have skills shortages in their workforce or expect to have shortages in the next five years, according to new research conducted by PwC. Concerns around skills shortages were profound with 33% experiencing a current shortage in core business skills such as teamwork, leadership, relati

New analysis from Grant Thornton UK's bi-annual recruitment sector report shows that deal activity in the recruitment sector for 2022 is off to a strong start with 23 deals completed in the first quarter of this year. This is compared to 18 deals completed in Q4 2021 and represents the sector’

Chiene + Tait (C+T) has announced the appointment of Grant Mackay, a VAT specialist with more than 25 years’ experience, to its Inverness team. With experience across in a number of core sectors including agriculture, landed estates, charities, public sector and owner-managed businesses, Mr Ma

Big Four firm KPMG is set to be fined £14.4 million after a Financial Reporting Council (FRC) tribunal found that its auditors deliberately misled regulators during routine inspections of its audit of collapsed government contractor Carillion. The £14.4m fine for KPMG would be the second

FRP Advisory, the administrators of Debenhams, have made £5.3 million in fees in the two years since the company went into insolvency. The administrators’ report has highlighted that FRP partners’ charges had increased from £495-£595 an hour to between £595-£

Wealth management company Brewin Dolphin has partnered for a second time with the School for Social Entrepreneurs (SSE) this time to support its free entrepreneurial support programme that helps established social entrepreneurs to understand the procurement process and how to bid for and win public