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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Mar- 2024 -12 MarchLatest News
Evelyn Partners gross inflows hit £7.8bn in FY23
Evelyn Partners has revealed it attracted “record” new business in FY23, with gross inflows of £7.8bn of new assets and also recorded adjusted EBITDA £188m. The key drivers of financial performance were “strong fee growth” in Professional Services, fee savings from the migration of assets to the firm’s in-house custody…
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5 MarchLatest News
Today’s news in brief – 5/3/2024
Companies House has implemented new measures under the Economic Crime and Corporate Transparency Act 2023, enhancing data quality and combatting register misuse. Changes include increased powers to query information, checks on company names, rules for registered office addresses, mandatory registered email, and a lawful purpose confirmation during incorporation. Companies House…
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5 MarchLatest News
Companies House rolls out new changes to tackle fraud and economic crime
Companies House has rolled out new powers to improve the quality and reliability of its data and tackle misuse of its register. The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force yesterday (4 March). The changes introduced include greater powers to query…
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Feb- 2024 -19 FebruaryCrime
Reported fraud doubles in 2023, BDO finds
The value of reported UK fraud hit £2.3bn in 2023, more than double the £1.1bn recorded in 2022, according to BDO. This was the second largest annual fraud value recorded by the firm in 20 years. However, BDO warned the true level of fraud is likely to be “significantly higher”…
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Jan- 2024 -31 JanuaryCrime
ICAEW to launch cyber security taskforce for corporate finance
ICAEW is set to launch a City-wide taskforce aimed at helping businesses understand and manage cyber security risks during corporate finance transactions. The initiative is led by ICAEW in collaboration with the National Cyber Security Centre (NCSC) and 12 other organisations involved in deal making, investment and cyber security. Guidance…
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Dec- 2023 -22 DecemberComment
2024 industry trends to look out for
There are changes aplenty occurring in the accounting industry as we bid 2023 adieu and look to the future. Evolving tech integration and regulation are two major topics set to shake up the accounting industry over the next 12 months. Jonathan Barber, Executive Director – UK, of the Institute of…
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8 DecemberRegulators
FCA needs to ‘manage risk’ to meet commitments, NAO warns
The Financial Conduct Authority (FCA) is making significant changes in response to its new responsibilities and past regulatory failures, but it “needs to manage the related risks if it’s to meet its commitments, including reducing and preventing financial crime”, according to a new report by the National Audit Office (NAO).…
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Nov- 2023 -20 NovemberAccounting Standards
FCA imposes censure on NMC Health over audit failings
The FCA has imposed a censure on UAE-based NMC Health after it was found to have been operating dual sets of accounting records, which have misled investors by underplaying its debt of as much as $4bn (£3.2bn). The financial authority found that between March 2019 and February 2020, NMC published…
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Oct- 2023 -31 OctoberPeople Moves
PwC appoints new regional leader for the Midlands
PwC partner David Morris has been appointed as regional leader for the Midlands region, overseeing the Birmingham, East Midlands and Milton Keynes practices. Morris succeeds Matthew Hammond, who is taking on new roles after a decade as a regional leader. With over 20 years’ with the firm, Morris brings a…
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30 OctoberLatest News
Today’s news in brief – 30/10/2023
ReSolve has been appointed as joint administrators to Luxtripper Ltd, a luxury tour operator. Despite significant growth, Luxtripper faced challenging trading conditions and financial difficulties, leading to insolvency. An accelerated merger and acquisition process aimed at finding rescue funds or a buyer for the business and employees. Due to cash…
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