Crime
Our coverage on Crime examines financial misconduct, fraud, and regulatory breaches within the UK accountancy sector. Accountancy Today reports on high-profile cases, such as the FCA’s investigation into Wood Group for allegedly withholding information from auditors, and the FRC’s £2.9 million fine imposed on PwC for serious audit failings related to Wyelands Bank . We also highlight instances of individual misconduct, including the 20-year ban of a former BDO manager for extensive document falsification . Our editorial provides insights into the evolving landscape of financial crime, regulatory enforcement, and the implications for accountants, partners, and compliance officers.
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Jun- 2024 -26 JuneCrime
AI will ‘turbocharge’ cyber-crime and fraud, warns CIIA
The rise of Artificial Intelligence (AI) could “turbocharge” the levels of cybercrime and fraud that businesses face with chief internal auditors “increasingly concerned” that cyber-criminals are likely to weaponize the technology, according to new research from the Chartered Institute of Internal Auditors (CIIA). The research found that 78% of chief…
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21 JuneAdvice & Best Practice
Useful assurance advice for less experienced accountants
All businesses, regardless of size, have to abide by laws, rules, guidelines, and standards. Accessing appropriate resources and implementing appropriate procedures are crucial for maintaining compliance for independent contractors and smaller businesses. This is to guarantee that everyone connected to your company, members and non-members alike, is aware of and…
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May- 2024 -28 MayLatest News
Today’s news in brief – 28/5/2024
KPMG UK and KPMG Switzerland have agreed to merge their partnerships, creating a $4.4bn business that will become the second largest in the KPMG network. The merger aims to leverage complementary strengths and technology solutions to enhance services in audit, tax, legal, and advisory sectors. Jon Holt, CEO of KPMG…
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28 MayPeople Moves
Grant Thornton appoints Forensic and Cyber practice leads
Grant Thornton has appointed partners Philippa Hill and Vijay Rathour as UK heads of its Forensic practice. Hill will lead its forensic and investigation services and Rathour will lead cyber and digital investigations. Hill specialises in accounting disputes and investigations and is an expert in the area of professional negligence,…
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24 MayLatest News
ICAEW urges gov to focus on UK resilience ahead of general election
ICAEW is calling on political parties to adopt tangible measures that will boost productivity, support business growth and ensure the UK’s economic resilience, following the announcement of a general election on 4 July. At the start of 2024, ICAEW published its manifesto outlining a series of recommendations for the next…
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8 MayAccounting Standards
ACCA praises internal audit code update to global standards
ACCA has praised a proposed code for internal auditors for “clearly and concisely” reflecting and adopting global standards, while maintaining its relevance for the UK profession. This is in response to a public consultation, which was issued by the Chartered Institute of Internal Auditors. ACCA welcomed the way the draft…
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Apr- 2024 -24 AprilLatest News
Today’s news in brief – 24/4/2024
TaxAssist Accountants has promoted Jo Nockels to head of Group Practice Capabilities, focusing on software utilisation and practice efficiency. Simon Hutchinson becomes head of Group Business Intelligence, tasked with leveraging data for client benefit. Harry Brown is appointed UK Franchise Recruitment manager. The promotions underscore TaxAssist’s commitment to enhancing support…
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24 AprilAdvice & Best Practice
Key Companies House changes: what and when?
The new powers granted to Companies House signify a significant milestone in the transformation of UK company law. These changes demand compliance, while giving accountants the opportunity to remind clients of the importance of strengthening their corporate governance practices and fostering a culture of transparency, says Jonathan Barber, Executive Director…
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24 AprilBig Four
KPMG joins drive to recruit prison leavers
KPMG UK has announced that it has joined a drive by the government to recruit prison leavers. The firm has become the first white collar British business to employ ex-offenders as part of a government partnership. This is in addition to their wider efforts to support and retrain prisoners whilst…
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15 AprilBig Four
More than a third of financial services leaders use AI at work, KPMG finds
More than a third (36%) of senior leaders in the financial services sector use generative AI at least once a day at work, according to new research from KPMG UK. Of all senior professionals in the sector, CEOs are the most frequent users (30%) of generative AI at work, using…
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