Search Results for: Accountancy
Grant Thornton resigns Quarto audit over conflict of issue and Deloitte duly took over with immediate effect
December 17th, 2014
DELOITTE has scooped the audit account of international publishing group Quarto from incumbent firm Grant Thornton following a conflict of interest issue. Quarto’s directors announced the move to the stock market following the emergence of a conflict of interest ...
ICAEW draws up plans for assurance on banks’ capital
December 16th, 2014
ICAEW is developing a framework for assurance on bank capital measures in response to increased concern over banks’ capital positions, the institute announced today. The framework is intended to provide a basis for independently examining risk-weighted assets (RWAs), one ...
Disney and Skype ‘used Luxembourg tax deals’
December 12th, 2014
Companies including Disney and Skype have allegedly used Luxembourg tax deals, according to fresh leaks published by investigative journalists. The group of firms funnelled hundreds of millions of dollars in profits through Luxembourg subsidiaries, according to leaked documents. Disney ...
KPMG’s record breaking sales fuel more hiring
December 10th, 2014
Big Four accountant KPMG International today announced record-breaking revenues for its worldwide network of $24.82bn (£15.8bn) for the fiscal year ended 30 September – a six per cent increase year-on-year. The Americas delivered the strongest growth over the year, ...
SEC Sanctions Eight Audit Firms for Violating Auditor Independence Rules
December 9th, 2014
The Securities and Exchange Commission today sanctioned eight firms for violating auditor independence rules when they prepared the financial statements of brokerage firms that were their audit clients. SEC investigations found that the audit firms, which agreed to settle ...
7 risk areas for the 2014 audit cycle
December 5th, 2014
Revenue recognition, internal control over financial reporting, and professional skepticism are among the seven key areas for 2014 audit consideration, according to an alert sent Thursday by the Center for Audit Quality (CAQ). The alert is designed to help ...
Sweetheart tax avoidance deals to receive greater scrutiny from the EU
December 3rd, 2014
Draft legislation to oblige sharing of corporation tax deals, as Germany, France and Italy pressure Juncker over Luxembourg The European commission has pledged to fast-track new legislation to establish greater scrutiny over sweetheart tax avoidance deals for big companies. ...
Tesco boss Dave Lewis overhauls management structure amid accounting scandal
December 2nd, 2014
Tesco’s newly appointed CEO Dave Lewis has overhauled the management structure of the British retailer in the wake of an accounting scandal that led to eight managers being suspended. Lewis will temporarily head UK operations as the current managing ...
Tesco poised to dump auditor after accounting scandal
November 19th, 2014
Tesco could be on the verge of dumping PwC, its auditor of 31 years, over its apparent failure to identify the accounting problems that led to a black hole in its books. The Evening Standard understands that board members ...
Deloitte starts up £25m fund for employees
November 17th, 2014
BIG FOUR accountancy firm Deloitte today announced it had started a £25m internal investment fund to allow its employees to create their own startup businesses. If their idea is chosen, employees will be given funding and allowed to work ...
