Financial and Accounting News

• November 21, 2018 Oman Regulator Suspends KPMG from Beginning New Audits for a Year Securities regulator in Oman has suspended the big four firm KPMG from auditing entities for a year following an investigation that found major financial irregularities at some listed companies. The regulator has ...
• November 20, 2018 Paul May Resigns as CEO of Café Chain Patisserie Valerie Patisserie Valerie has announced the appointment of Stephen Francis as its new CEO following resignation given by its former CEO Paul May. The resignation from Paul May comes only a few weeks after the shareholders ...
• November 19, 2018 London Grocer Found Guilty in £120k VAT Fraud A London based individual found guilty of setting up fake business entities, including a holiday villas firm and a jewellery shop as part of VAT fraud of £120,000 has now been sentenced to serve jail period of three ...
• November 16, 2018 South Korean Financial Regulator Accused Samsung BioLogics of Accounting Violations South Korea’s financial regulator has said that Samsung BioLogics has violated accounting rules with regards to the treatment it has adopted to account for its holdings in one of its subsidiary. The company in question ...
• November 15, 2018 IASB Confirms One-year Delay for IFRS 17 The International Accounting Standards Board (IASB) has proposed to extend the effective date for IFRS 17 Insurance Contracts by one year. IASB is also planning to extend the temporary exemption available for ...
• November 14, 2018 Redrow Appoints KPMG as its New Statutory Auditor FTSE 250 firm Redrow has replaced PwC with KMPG for the financial year commencing July 1, 2019. The appointment of the big four firm KPMG is subject to shareholders approval at the company’s next annual general meeting ...
• November 12, 2018 ACCA Publishes Report on Emotional Intelligence Important for Accountants to Survive in the Modern Workplace According to a recent report released by the ACCA, emotional intelligence in addition to a well-rounded skillset are pretty important if the accountants are to survive and thrive in a field that is highly tech-driven ...
• November 12, 2018 Air Partner Replaces Deloitte with PwC as its New External Auditors Private jet operator Air Partner plc has replaced Deloitte with PwC as the group’s new auditor. The FTSE 250 firm has decided to appoint PwC as its external auditors for the financial year ending January 31, 2019 after ...
• October 26, 2018 European Auditors Publish their Work Plan for 2019 The European Court of Auditors (ECA) has set aid provided by the state to banks as one of the main priorities as part of their work programme for the year 2019. The ECA has said that it plans to address a number ...
• October 25, 2018 Former Oil Company Executives Convicted of Fraud and Money Laundering The former chief executive officer (CEO) and chief operating officer (COO) of company Afren have been found guilty of committing fraud and money laundering over a $300m oil deal.  At Southwark Crown Court, ...