Financial and Accounting News

• June 28, 2019 AJ BELL Replaces KPMG with BDO as its New External Auditor FTSE 250 Firm AJ Bell has appointed BDO as its new external auditor for the financial year ending September 30, 2020 replacing the big four firm KPMG after remaining in the said position for last 10 years. AJ Bell has ...
• May 24, 2019 Big Four Firms Dominate the List of Cyber Security Recruiters The big four firm KPMG is the UK's biggest cyber recruiter, with other big four firms PwC, EY and Deloitte close behind, according to the data released by the well-known job site, Indeed. The released data by indeed ...
• May 21, 2019 Accountancy bodies Working Together Against Businesses Involved in Money Laundering Regulatory bodies, including ICAEW, ACCA and HMRC, have identified a number of businesses with potential failings with regards to compliance with record keeping, customer checks and identifying and analyzing risk. This is ...
• May 18, 2019 Xero Reports Revenue Growth of 36% in the FY 2019 Cloud based accounting software company Xero reported an increase of 36% in its operating revenue to NZ$552.8m for the financial year ended March 31, 2019. Xero’s customer base in the UK increased by 48% to 463,000 ...
• May 16, 2019 AIM-listed Mining Company GoldStone Switches Auditor GoldStone Resources, a mining company with projects across western Africa, has switched its auditors. The mining company announced that Liverpool based DSG Accountancy and Business Services will be replaced by its existing ...
• May 15, 2019 FASB Provides Financial Institutions with Fair Value Option to Ease through the CECL Transition The Financial Accounting Standards Board (FASB) is providing some respite to banks as well as other institutions which deal in financial instruments with regards to implementing the standard related with credit ...
• May 13, 2019 New Study Reveals 55% of Public Believe Auditors’ could Prevent Company failures’ As per a recent survey conducted by the ACCA, 55% of the respondents expressed that auditors are the ones who are responsible for helping companies avoid failures. 70% of the participants of the survey said that the ...
• May 10, 2019 FRC Hands KPMG a £5m Fine over Co-Operative Bank’s Audit Failings The UK watchdog Financial Reporting Council (FRC) initially required KPMG to pay £5m as fine as well as to comply with additional requirements on its audits of credit institutions for at least next 3 years, for a ...
• May 8, 2019 Kraft Heinz Reveals $181m in Accounting ‘Misstatements’ Food giant Kraft Heinz has revealed that it discovered certain misstatements in its financial statements after an internal review was conducted by the company. As a result of these findings the company will now have to ...
• May 7, 2019 IASB consults Regarding Accounting Changes Concerning Interest Rate Benchmarks The International Accounting Standards Board (IASB) is consulting with regards to making changes to the accounting standards that deals with financial instruments, IFRS 9 and IAS 39, in wake of the reform to major ...