Financial and Accounting News

• September 22, 2018 Treasury Launches Investigation into Barriers Restricting Women in Business The Treasury has recently launched a review into the barriers restricting women from actively taking part in business. The result of the research suggests that the women compared to men are less likely to be involved in ...
• September 21, 2018 The Chief of Denmark Based Bank Quits Over £178bn Money Laundering The chief executive of Danske Bank (the biggest bank in Denmark) resigned following an internal investigation which revealed that majority of £178bn moving through the bank’s Estonian branch was down to cash ...
• September 18, 2018 Boss of a Recruitment Agency Sentenced to Serve Jail Period of 27 Months Shaun Clark, boss of two recruitment agencies, has been sentenced to jail for a period of 2 years and 3 months after an investigation carried out by the HMRC. The results of the investigation revealed that Shaun Clark ...
• August 24, 2018 Former Trump Lobbyist Found Guilty of Tax Evasion and Bank Fraud Paul Manafort, former campaign chairman of US President Donald Trump has been found guilty of eight fraud charges out of which five charges are imposed on counts of tax evasion, two charges imposed on counts of bank ...
• August 7, 2018 PwC Replaces Deloitte as Auditor of Flybe Independent airline operator Flybe has decided to replace Deloitte with PwC as its new auditor for the fiscal year ending March 31, 2019. This decision by the airline operator will see Deloitte replaced by PwC after ...
• August 6, 2018 Xero to Acquire HubDoc in Deal Worth $70m New Zealand based Cloud accounting firm Xero has acquired Hubdoc, which provides financial document collection and data capture solutions for bookkeepers, accountants, and small businesses The decision of ...
• July 30, 2018 Kingfisher Board Approves the Re-appointment of Deloitte as its External Auditor FTSE 100 firm Kingfisher has retained Deloitte as its auditor for the financial period ending January 31, 2019. The decision of appointing Deloitte as auditor has been taken following a formal tender process. The ...
• July 23, 2018 EY Replaces KPMG as Auditor of Beazley FTSE 250 firm Beazley has decided to appoint EY as its auditor replacing KPMG for the financial year ending December 31, 2019. The global insurer firm has taken the decision after conducting a competitive tender ...
• July 18, 2018 FRC Imposes Fine of £18m on Audit Firms during the Previous Year As per a recent research conducted by Thomson Reuters, fines imposed by the UK regulator Financial Reporting Council (FRC) increased by 23% to reach £17.96m during the last year, compared with £14.59m in ...
• July 17, 2018 IAASB Consults on Proposed Changes to ISA 315 The International Auditing and Assurance Standards Board (IAASB) is consulting on making changes to ISA 315 (Identifying and Assessing the Risks of Material Misstatement). The purpose of the auditing standards is to ...