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Today’s news in brief – 11/3/2024

The Financial Reporting Council (FRC) is contemplating relocating its headquarters from the City of London to Canary Wharf or Stratford. Plans to move staff to a second office in Birmingham face delays. The move may leave the Prudential Regulation Authority as the only major City regulator in the financial district. The replacement of FRC with a more powerful Audit, Reporting, and Governance Authority has stalled.

FRP has acquired advisory and insolvency firm GWC, expanding its international reach. GWC, based in Douglas, Isle of Man, offers advisory services and insolvency solutions. This marks FRP’s eighth acquisition since listing in 2020, supporting its strategic growth plan.

PwC has been appointed as the new auditor for the Pennon Group for the year ending March 2025. Ernst and Young, the current auditor, will continue until March 2024. Pennon Group operates water companies in the Great South West of England.

TaxAssist Accountants has reported a record 44% increase in UK network sales in January compared to December 2023 and over 12.4% compared to January 2023. The boost is attributed to increased shop walk-ins, referrals, and effective marketing campaigns. The network now serves over 81,000 clients with annual sales of £58.6m.

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