• Sage automates salary and supplier payments with Modulr

     
    Sage (FTSE:SGE) the market leader in cloud business management solutions has partnered with high-growth UK payments fintech, Modulr, to simplify the task of managing accounts payable and payroll payments for millions of UK businesses.
    The solution, known as Sage Salary and Supplier Payments, will allow businesses and their accountants to securely manage and process payments from directly within the Sage Accounts and Payroll products.
    A key part of the success of small businesses is their
  • August’s jump in house prices is further proof stamp duty holiday was a mistake | nils pratley

    August’s jump in house prices is further proof stamp duty holiday was a mistake | nils pratley
    The 2.1% rise cited by Nationwide was likely to be due to cheap loans and a desire to get out of citiesMore evidence that Rishi Sunak’s pandemic freebie for homebuyers was a waste of money: even when the stamp duty holiday was partly removed, house prices continued to fly. The 2.1% rise in August, on the Nationwide’s readings, was the second largest monthly increase in 15 years.It all suggests the 13% rise in house prices since the start of the pandemic had little to do with Sunak&rs
  • UK regulator issues complaint to KPMG over Carillion and Regenersis audits

    UK regulator issues complaint to KPMG over Carillion and Regenersis audits
    Firm accused of providing false and misleading information to Financial Reporting CouncilThe Financial Reporting Council has issued a formal complaint against KPMG and several of its current and former employees for allegedly providing “false and misleading information” relating to its audits of the outsourcing firms Carillion and Regenersis.The accounting watchdog’s allegations of misconduct relate to documents provided to the FRC during its inspection of audits carried out on
  • EY fined by UK accountancy watchdog over Stagecoach audit failings

    EY fined by UK accountancy watchdog over Stagecoach audit failings
    Penalty of more than £2.2m imposed after firm did not properly challenge transport group’s bosses EY has been fined more than £2.2m by the UK accountancy watchdog for failing to properly challenge Stagecoach bosses when auditing their accounts for 2017.The Financial Reporting Council (FRC) has also sanctioned Mark Harvey, EY’s auditing engagement partner, fining him £100,000 for his role reviewing Stagecoach’s financial statements. Continue reading...
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  • A post-Covid crash is looming – and Britain's auditors are asleep at the wheel | Richard Brooks

    A post-Covid crash is looming – and Britain's auditors are asleep at the wheel | Richard Brooks
    As Covid-related state support for precarious firms winds down, much-needed audit reform remains worryingly remoteLike a tedious household repair job, fixing the accounting for Britain’s largest and most important companies is always put off until it’s too late – and then bodged anyway, with often calamitous results.As Covid-era government support for some of the country’s most precariously positioned companies winds down, accounting for their finances remains trapped in
  • KPMG fined £13m over sale of Silentnight to private equity firm

    KPMG fined £13m over sale of Silentnight to private equity firm
    Near-record fine and reprimand for blue chip accountants that helped push client towards insolvencyKPMG has been fined a near-record £13m and severely reprimanded by an independent tribunal for misconduct, in a long-running case relating to the the sale of bed-maker Silentnight to a private equity group in 2011 .The tribunal determined that one of KPMG’s partners helped push Silentnight, which was a client of the blue chip accounting firm, towards insolvency so that the private equit
  • Mike Ashley will make big decisions at Frasers even if he’s not chief | Nils Pratley

    Mike Ashley will make big decisions at Frasers even if he’s not chief | Nils Pratley
    Handing the gig to his prospective son-in-law looks a transfer of power in name onlyMike Ashley is “transitioning” out of the job of chief executive at Frasers and handing the gig to his prospective son-in-law, Michael Murray. That, at least, was the Sports Direct firm’s summary of next year’s switch. The critical line, though, was the one at the end. Ashley will “remain on the board as an executive director”. He isn’t even adopting the formal back-seat
  • FTSE 100 firms face growing revolt on executive pay amid Covid crisis

    FTSE 100 firms face growing revolt on executive pay amid Covid crisis
    Deloitte’s remuneration analysis reveals shareholders want executive pay to reflect wider workforceMore than twice as many FTSE 100 companies have faced shareholder rebellions over executive pay this year compared with last year, despite an overall drop in pay packets, as investors took a harder line on pay fairness during the Covid pandemic.This year, the number of FTSE 100 companies receiving “low votes” – with less than 80% of shareholders in favour – on their an
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  • Greensill: watchdog opens investigation into auditors including PwC

    Greensill: watchdog opens investigation into auditors including PwC
    Inquiry involves Saffery Champness and PwC’s audit of the Sanjeev Gupta-owned Wyelands BankBritain’s accounting watchdog has opened investigations into PwC and a smaller rival over audits conducted for Greensill Capital UK and the bank owned by one of its largest borrowers, the metals magnate Sanjeev Gupta.The Financial Reporting Council’s (FRC) investigations – launched on 15 June but only made public on Monday – add to a growing list of investigations linked to Gr
  • Greensill scandal: Watchdog opens investigation into auditors including PwC

    Greensill scandal: Watchdog opens investigation into auditors including PwC
    Inquiry involves Saffery Champness and PwC’s audit of the Sanjeev Gupta-owned Wyelands BankBritain’s accounting watchdog has opened investigations into PwC and a smaller rival over audits conducted for Greensill Capital UK and the bank owned by one of its largest borrowers, the metals magnate Sanjeev Gupta.The Financial Reporting Council’s (FRC) investigations – launched on 15 June but only made public on Monday – add to a growing list of investigations linked to Gr
  • Deloitte’s UK employees to decide ‘when, where and how they work’

    Deloitte’s UK employees to decide ‘when, where and how they work’
    Accounting firm embraces ultra-flexible working with staff able to choose if they come into office at allDeloitte will allow its 20,000 UK employees to choose how often they come into the office, if at all, after the pandemic, making it the latest firm to throw out the rulebook and embrace ultra-flexible working.The accounting firm said it would let staff decide “when, where and how they work” following the success of remote working during the Covid crisis. While the company has offe
  • John Waddington obituary

    John Waddington obituary
    My brother, John Waddington, who has died aged 83, after contracting Covid-19 in hospital, was a friend to many, a brilliant accountant, supporter of charities, patron of music and a collector of vintage motorcars.He was a man who gave much and had many friends from every part of his life. He went to Christ’s College, Cambridge, with an open scholarship in classics in 1956 from University College school, north-west London, claiming that this was due to inspiring teaching, from Aubrey Morle
  • EY staff to work from home at least two days a week after lockdown eased

    EY staff to work from home at least two days a week after lockdown eased
    Latest move to hybrid working for accountant’s 17,000 UK employees suggests that pandemic has changed office life permanentlyWorkers at accountancy firm EY will be expected to work from home for at least two days a week even after coronavirus restrictions lift, in the latest sign of the pandemic changing office life.The company, formerly known as Ernst & Young, on Monday told UK employees via video call that 17,000 staff will move to a “hybrid working model” that mixes work
  • 14 major UK employers join socially focused Purposeful Company scheme

    14 major UK employers join socially focused Purposeful Company scheme
    Bosses of FTSE 100 and accountancy firms promise new focus on wellbeing of staff and local communitiesThe bosses of 14 big organisations, including Capita, Unilever and PricewaterhouseCoopers (PwC), have pledged to put the wellbeing of staff, local communities and broader society higher on the boardroom agenda, after concluding it will enhance the long-term profitability of their businesses.The Purposeful Company, a not-for-profit organisation, said it had brought together business leaders from
  • What did Greensill Capital actually do? | Adam Leaver

    What did Greensill Capital actually do? | Adam Leaver
    Behind David Cameron’s lobbying lies a surreal web of ‘supply chain financing’ and ‘factoring’The focus on David Cameron’s role in lobbying for Greensill Capital’s involvement in NHS payment systems has obscured a less glamorous question: how did a firm involved in such a mundane part of the financial services ecology became so significant, so quickly?Greensill Capital, which entered administration last month, provided payment services including “f
  • PwC's UK staff to split office and homeworking after Covid crisis

    PwC's UK staff to split office and homeworking after Covid crisis
    Flexible return will allow staff to personalise working day and finish early on Fridays in July and AugustCoronavirus – latest updatesSee all our coronavirus coveragePwC is rolling out a flexible working policy that will allow its 22,000 UK staff to split their time about half and half between their home and office after the pandemic.The accounting firm expects staff to spend 40-60% of their time with colleagues – either in the office or out on client visits – once restrictions
  • Accounting heads confirm hybrid working adoption

    Accounting heads confirm hybrid working adoption
    Professional services firms aim to implement a hybrid office space as restrictions ease this spring but adopting this new working space will require a combination of client and employee needs, according to market participants.
    “There’s a real desire for hybrid,” says John Taylor, chief operating officer at RSM. “I don’t think most people want to go back travelling daily into offices on a five day a week basis. That’s what we’re working towards. We’
  • Big business, accounting and accountability | Letter

    Big business, accounting and accountability | Letter
    David Selby argues for a less cozy relationship between large companies and their auditorsAs a very small shareholder in a few companies, I have been conducting a one-man campaign for many years, by voting against the motion on most AGM agendas to retain the services of the current auditors. Ever since the fall of Enron, I have always felt that there is self-interest in both parties wishing to maintain this close relationship.Enron was not mentioned in your article (Bonus reforms ‘biggest
  • New working environment triggers tax compliance challenges

    New working environment triggers tax compliance challenges
    Despite a surge in vaccinations around the world, the pandemic continues to infiltrate our lives and is set to change our working environment forever.
    Having witnessed the benefits of remote working, organisations are now looking at their workplace through a different lens. Whether the future of business will be marked by remote working or flexible workplace, only time will tell, but for now each decision taken by employers will need careful consideration as new working environments will present
  • Chancellor extends furlough and widens cash grants access for self-employed

    Chancellor extends furlough and widens cash grants access for self-employed
    The Chancellor’s decision to extend support programs including the Coronavirus Job Retention Scheme (CJRS) and the Self-Employed Income Support Scheme (SEISS) is essential to keep businesses alive and protect jobs ahead of lockdown restrictions being eased, according to market participants.
    “They went a bit further than what was anticipated – that it goes until the end of September rather than the end of June or July,” says Ian Goodwin, partner at Mazars. “This will
  • No more fomo: top firms turn to VR to liven up meetings

    No more fomo: top firms turn to VR to liven up meetings
    Companies splash out on new tech and office design to cut commuting and usher in the new dawn of post-lockdown hybrid workingStaff at accounting giant PricewaterhouseCoopers have been holding meetings in odd places: the top of skyscrapers, inside swanky penthouse apartments and even luxury ski chalets. All without leaving the comfort of their own homes.That is the new normal for a growing number of workers at PwC, which is buying thousands of virtual reality headsets to help battle Zoom fatigue
  • Peter Smith obituary

    Peter Smith obituary
    My husband, Peter Smith, who has died aged 84, worked in public finance as a local government accountant for councils in the north of England and then served as the chairman of an NHS Trust in Gateshead.He was born in Huddersfield to Frank Smith, a chauffeur, and his wife, Annie (nee Sunderland), who was in service. After attending Rastrick grammar school he began work as a trainee accountant in the treasurer’s department at Huddersfield council, where he began to climb the public finance
  • As KPMG’s boss has learned, caring about employees is now cool

    As KPMG’s boss has learned, caring about employees is now cool
    Bill Michael, UK chair of the accountancy firm, had to step down amid protests after he told staff to ‘stop moaning’Millennials are flexing their power in the workplace. From women’s rights to demands for tougher action on climate change, younger staff are forcing the pace.Last week the boss of KPMG stepped down amid protests from staff about his behaviour during an online meeting. Continue reading...
  • KPMG's Bill Michael: from hosting the Queen to abrupt resignation

    KPMG's Bill Michael: from hosting the Queen to abrupt resignation
    Australian’s blunt style became his undoing after he tells staff to stop moaning about CovidLess than two months ago, Bill Michael welcomed the Queen on a virtual visit to KPMG’s new innovation hub during the accounting firm’s 150th anniversary celebrations.One imagines his comments during the video call with the monarch were less blunt than those he made to staff during Monday’s virtual town hall meeting, which have now prompted his resignation. Continue reading...
  • KPMG's Bill Michael resigns after telling staff to 'stop moaning'

    KPMG's Bill Michael resigns after telling staff to 'stop moaning'
    Firm’s UK chair apologises for comments in virtual meeting about Covid crisisKPMG’s UK chairman, Bill Michael, has resigned after telling staff to “stop moaning” during a virtual meeting about the coronavirus pandemic and the impact of lockdown on people’s lives.Michael, who has headed the company since 2017, was speaking at a virtual town hall meeting on Monday with members of the firm’s financial services consulting team when he made the comments. Continue r
  • 'Unconscious bias is utter crap': KPMG staff share shock at UK chair's Zoom comments

    'Unconscious bias is utter crap': KPMG staff share shock at UK chair's Zoom comments
    Accounting firm investigates as more details emerge of meeting where Bill Michael told staff to stop moaningNew details have emerged of controversial comments by the UK chair of KPMG, who has stepped aside while the accounting firm investigates what he said to staff during a virtual meeting.A video of the Zoom meeting was published on Thursday, in which Bill Michael describes the concept of unconscious bias as being “complete and utter crap for years”. In the video, obtained by Mail
  • KPMG chair steps aside after telling staff to 'stop moaning' about pandemic

    KPMG chair steps aside after telling staff to 'stop moaning' about pandemic
    Bill Michael also advised staff in online meeting not to ‘play the victim card’ amid lockdownsKPMG has confirmed that its chairman is stepping aside after the accounting giant launched an investigation into controversial comments he made to staff in a virtual meeting this week.Bill Michael, who took over as chairman in 2017, told staff on Monday to “stop moaning” about the pandemic and the impact of lockdown on people’s lives, adding that they should stop “pla
  • KPMG chair steps aside after telling staff to 'stop moaning' about Covid

    KPMG chair steps aside after telling staff to 'stop moaning' about Covid
    Bill Michael also advised staff in online meeting not to ‘play the victim card’ because of the pandemicKPMG has confirmed that its chairman is stepping aside after the accounting giant launched an investigation into controversial comments he made to staff in a virtual meeting this week.Bill Michael, who took over as chairman in 2017, told staff on Monday to “stop moaning” about the pandemic and the impact of lockdown on people’s lives, adding that they should stop &
  • KPMG UK chair tells staff to 'stop moaning' about Covid work conditions

    KPMG UK chair tells staff to 'stop moaning' about Covid work conditions
    Chair Bill Michael apologised by email for comments made in a virtual meeting with 1,500 employeesThe UK chair of accountancy firm KPMG has apologised to staff after telling them to “stop moaning” during a virtual meeting about the pandemic and the impact of lockdown on people’s lives.Bill Michael, an Australian who has headed the company since 2017, was speaking at a town hall meeting on Monday with members of the firm’s financial services consulting team when he made th
18 Sep 2021

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