Financial and Accounting News

• March 22, 2019 EY Set to Replace Deloitte as Tullow Oil’s New External Auditor EY is set to be appointed as the new external auditor of multinational gas and oil exploration company with the name of Tullow Oil, replacing another big four firm Deloitte which held the said role since 2002 The oil ...
• March 21, 2019 British Regulator Fines UBS £27.6m for Reporting Failures Financial Conduct Authority (FCA) has handed a fine of £27.6m to UBS, a Swiss bank, for its failure to report transactions amounting to 135.8m from 2007 to 2017. According to FCA, UBS failed in providing complete ...
• 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 ...