Financial and Accounting News

• March 19, 2019 PwC pays £253m to Settle Claims of Professional Negligence PwC has made payment of £253m ($335m) to settle claims relating to professional negligence in the firm’s audit of the Colonial Bank. The claims of negligence have been brought to attention by the Federal Deposit ...
• March 12, 2019 Deloitte Wins CRH Audit Deloitte is set to replace EY as the new auditor of CRH plc, a building firm, for the financial year ending December 31, 2020. EY has been auditor to the building company since 1988 but now it’s looking like Deloitte will ...
• March 6, 2019 EY is expected to Replace KPMG as New Auditor of Aston Martin EY has replaced KPMG as new auditor of luxury sports cars manufacturer, Aston Martin, after KPMG refused to reapply for tender process less than 3 months after the company got listed on the Stock Exchange. EY is expected ...
• March 4, 2019 Increase in Recovery of VAT on Financial Services in No Deal Brexit In event of a no deal Brexit, the government has planned to make some changes to the VAT legislation to allow business entities in the UK to reclaim Value Added Tax on supplies of specific financial services made to ...
• March 1, 2019 Big Four Supports Mandatory Reporting of Ethnicity Pay Gap The Big Four audit and consultancy firms are supporting compulsory reporting of ethnicity pay gap suggested by INvolve, an organisation that is a champion with regards to inclusion and diversity in business, and have ...
• February 28, 2019 HMRC Issued a Petition for Winding up to Notts County Football Club English football club Notts County which is currently sitting at the bottom end of League Two, recently revealed that it has received a petition for winding up over unpaid tax from the HMRC The football club has ...
• February 26, 2019 Vodafone Replaces PwC with EY as its New External Auditor Vodafone Group has decided to replace PwC with EY as its auditor for the financial year ending March 31, 2020. The decision of appointing EY as the group’s new external auditor has been taken in light of the results of a ...
• February 7, 2019 Victims of Investment Scams Lost Average of £29,000 Investment scam victims lost an average of more than £29,000 in the year 2018 as per data from Action Fraud.  Financial Conduct Authority (FCA) is calling for investors to increase supervision in the light of the ...
• January 29, 2019 EY Replaces Deloitte as Capital Group’s New External Auditor EY has replaced Deloitte as new external auditor of the FTSE 250 firm Capital Group (ICG) for the fiscal year ending March 31, 2021. ICG had previously said that it must appoint a new external auditor for the ...
• December 3, 2018 Need to ‘think small’ on audit standards As per ACCA (Association of Certified Chartered Accountants), Standard setting bodies/ institutions should make sure that the standards on auditing should have a simpler structure and language in order to address the ...