Businesses continue to react to coronavirus & more…Keep up with the latest finance news in our weekly round-up…
Top accountancy firms are calling for temporary respite from rules including mandatory audit firm rotation, physical inventory counting and accounts filing deadlines, arguing that the coronavirus outbreak had created “unprecedented challenges”.
Ian Stewart, chief economist at Deloitte, dubbed the Coronavirus pandemic a massive shock the economic system and one that is having an “immediate and pronounced effect on the ability of people to work”.
The company has appointed administrators from PwC, putting 2,700 jobs at risk, after struggling for several years.
An advisor to union pension funds in calling on General Electric Co. to drop KPMG as its auditor after a series of accounting missteps and strategic blunders rattled investor confidence in the one-time blue-chip company.
EY has picked its audit chief to run its UK business, continuing the Big Four’s woeful record of senior female leadership.
The long-promised reform of the UK audit sector could start this year with voluntary changes by the Big Four accounting firms, the audit watchdog said today.
KPMG has completed the disposal of its pensions practice in the first significant sale of an advisory unit by a Big Four accountant to combat enhanced security on auditing conflicts.