Big Four

EY UK is expected to offer lower pay rises and bonuses for staff within its tax advisory division, mirroring a trend among Big Four firms responding to a challenging economic climate. The firm's 4,400-strong tax division are set to receive a 2.2% base salary increase, a decrease from previous years

PwC's China business, PwC Zhong Tian, has said it anticipates to receive a six month business ban from Chinese authorities, starting as early as September, due to its audit of the collapsed property developer Evergrande. The Chinese securities regulator previously found that Evergrande had infl

A UK property developer, Revelan, is suing PwC for £6.6 million in London's High Court. The developer alleges PwC provided "negligent" tax advice which resulted in a £3m tax bill from HMRC. Revelan alleges PwC miscalculated their tax liabilities over a five-year period, errors which PwC

In what marks the first time the Financial Conduct Authority (FCA) has fined an audit firm, the regulator has issued PwC a £15 million penalty for failing to report suspicions of fraud at now-defunct London Capital & Finance (LCF).

PwC UK has informed its employees of reduced bonuses in certain divisions, smaller pay rises, and a cutback on the popular half-day Fridays perk due to "challenging market conditions". In a memo, chief people officer Ian Elliott told the Big Four firm's 26,000 staff that while the overall bonus pool

KPMG is set to cut a further 200 jobs in the UK as the consulting sector faces a market slowdown. The cuts, affecting both back-office and client-facing roles, come after a review of the firm's cost base and are expected to be completed by October 2024.

UK government consulting spending faces major cuts as both main political parties have pledged to halve external advisory costs, potentially saving £3 billion over five years. This move follows record-high spending since the last election, driven by pandemic response, digital projects, and civ

Hywel Ball, EY's UK chair and UK&I managing partner, has announced his resignation, triggering a leadership race for one of the most coveted roles in professional services. The 61-year-old veteran, who has dedicated his entire career to the Big Four firm since 1983, was a staunch advocate for Pr

PwC has initiated a "silent lay-off" round in the UK, offering voluntary severance to staff in consulting, risk, operational, and managed service divisions in London and Belfast. Affected employees have been individually notified and instructed not to disclose their departure to colleagues or the na

KPMG Switzerland and KPMG UK's partners have overwhelmingly voted to merge, creating a new $4.4 billion (£3.44bn) entity that will rank as the second-largest firm within the KPMG network.

Several accountancy and financial services firms, including Big Four firms Deloitte and KPMG, have rescinded job offers to international students following the UK government's decision to raise the minimum salary thresholds for skilled worker visas. They are not the first and will not be the last, a

The Financial Reporting Council (FRC), has imposed hefty fines on accounting giants PwC and EY, along with a smaller firm, Oliver Clive & Co, for audit failures related to London Capital & Finance (LCF), a collapsed investment group. PwC and EY were fined £4.9 million and £4.4m r

A Big Four accounting firm has announced plans to expand its hiring of ex-offenders following a successful two-year trial period.

Deloitte has initiated a major reorganisation of its global operations, the largest in over a decade, as the Big Four firm aims to reduce costs and complexity amid an anticipated market slowdown. The restructuring will consolidate Deloitte's main business units from five to four, comprising audit an

KPMG has been fined £1.5 million by the Financial Reporting Council (FRC) for "serious failings" in its audit of prominent advertising agency M&C Saatchi.