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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Oct- 2023 -30 OctoberLatest News
Companies House to tackle corruption and bolster legitimate business under new bill
Robust laws to fight fraud, counter corruption and bolster legitimate business have received Royal Assent on 26 October as the Economic Crime and Corporate Transparency Act officially became law. Under the new bill, UK authorities will proactively target organised criminals and others seeking to abuse the UK’s open economy. Companies…
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27 OctoberTax
CIOT welcomes closure of Register of Overseas Entities loophole
The Chartered Institute of Taxation has welcomed the closure of a gap in the Register of Overseas Entities. The loophole had originally been identified and highlighted by the institute during the passage of last year’s Economic Crime (Transparency and Enforcement) Act, which introduced the register. The loophole is that up…
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26 OctoberLatest News
RSM appoints new associate director
RSM UK has appointed David Dry as associate director to strengthen the firm’s risk and regulatory advisory team. Based in RSM’s London office, Dry has over 15 years of experience advising large financial services, fintech and payment solutions companies on regulatory risk and compliance. He joins from leading global payment…
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17 OctoberTax
UK authorities seize £179m from suspected criminals, RPC finds
UK authorities, including the SFO, HMRC and police, seized £179m last year from criminals using “draconian” Confiscation Orders – an increase of 16% on £154m a year earlier, according to analysis of new data by international law firm RPC. Adam Craggs, partner and head of tax, regulatory and financial crime…
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Sep- 2023 -28 SeptemberLatest News
Today’s news in brief – 28/09/2023
The Association of Chartered Certified Accountants (ACCA) and the Institute for Mergers, Acquisitions, and Alliances (IMAA) have entered into a strategic cooperation agreement. The primary goal of this partnership is to enhance the expertise of their members, particularly in the field of corporate finance, with a focus on mergers and…
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28 SeptemberBig Four
EY refunds Santander £15m over Project Morgan work
EY has refunded Santander £15m after its anti-financial crime work for the bank was deemed to be insufficient, according to reports from the Financial Times. The firm was hired by Santander to help address the issues with the bank’s anti-money laundering and financial crime defence systems. EY’s work on the…
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13 SeptemberLatest News
FRP appoints two new partners to London team
FRP has recently announced the appointment of two new partners to its London City and West End teams. Victoria Kisseleva joins the West End office as a partner in the corporate finance team after a 20-year career in international finance, private equity and investment banking. Kisseleva has a particular specialism…
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Aug- 2023 -17 AugustPeople Moves
Ocorian appoints head of financial crime and consulting services
Ocorian has announced the promotion of Joe French to managing director and head of its financial crime and consulting services. French, who has previously worked for the firm’s Newgate Compliance Limited for more than six years, has 13 years of experience with HMRC’s intelligence teams, which developed domestic and international…
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Jul- 2023 -10 JulyAudit
CIIA urges boards to work with internal audit amid rising interest rates
The Chartered Institute of Internal Auditors is urging boards to work alongside their internal audit functions to build resilience against a possible recession amid high inflation and an interest rate rise shock. Based on a survey of over one hundred internal audit executives from a range of sectors across the…
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Jun- 2023 -30 JuneRegulators
AAT warns AML overthrow could lead to more economic crime
The AAT has warned that the government must proceed with great caution before potentially tearing up anti-money laundering (AML) processes in an attempt to reform regulation. This comes as the government has launched a two-month consultation today, offering input on four proposals before they will decide on a route of…
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