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Today’s news in brief – 8/11/2023

TMF Group, a global provider of compliance and business administration services, has acquired Premier Consulting SA in Greece. This acquisition enhances TMF Group’s presence in Greece and Southeastern Europe, allowing them to offer a broader range of services to Premier Consulting’s clients and expand their global footprint.

PwC will become Severn Trent’s auditor for the year ending March 31, 2026, following a formal tender process. Deloitte, the current auditor, will continue until 2025. A resolution will be proposed to shareholders in 2025. PwC’s selection comes after a long tenure by Deloitte.

Ballards LLP Chartered Accountants has appointed Andy Bewick as a partner, reinforcing their audit capabilities. With over 25 years of experience in business advisory services, Bewick will provide strategic insights to clients in the UK and internationally. This addition takes the firm’s headcount to over 120 employees in the Midlands, offering a wide range of services, including compliance, tax planning, corporate finance, and digital transformation.

PwC is planning to cut 600 jobs, primarily in the advisory business but potentially impacting the tax department. The firm justifies this decision due to a decline in attrition rates and the need to balance its workforce. First-year staff and graduates won’t be affected. PwC’s partners are paid an average of £906,000.

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