Keep up with the latest accountancy and finance news in our weekly round-up…

 

Bank warns PM over Brexit plan as it keeps interest rates at 0.75%

The Bank of England has warned Boris Johnson that his Brexit plan stands to drag down Britain’s economic potential, after voting to keep its key interest rate unchanged.

FTSE 100 drops, midcaps advance on Brexit day

London’s FTSE 100 slipped on Friday as coronavirus fears intensified and a firmer pound dragged exporter shares lower, while Aston Martin drove the midcaps higher, hours before Britain leaves the European Union.

KMPG mulls sale of more UK advisory units

KMPG is exploring the sale of some advisory units as the firm steps up its efforts to reduce conflicts of interest and refocuses on audit work. The potential sales come as the Big Four firm strives to improve its reputation following a bruising two years of criticism and fines linked to the quality of its auditing work.

EY whistle-blower takes stand in gold bullion money laundering case

A whistle-blower who is suing audit giant EY over allegations it covered up a money laundering scandal that took the stand today in his High Court trial against his former firm.

Deloitte fined £1.8m over Comet administration failings

Deloitte is to pay £1.8m in fines and costs following a five-year ICAEW investigation into the firm’s handling of the administration of electricals retailer Comet, which collapsed in 2012.

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