Keep up with what’s been happening this week in our accountancy news round-up…
International trade has dried up as a result of the Covid-19 pandemic and could be on course for a collapse as severe as that of the 1930s Great Depression, the World Trade Organisation has said.
Nearly half of UK companies have scrapped dividend payouts as the coronavirus crisis batters business.
In results published Tuesday, Grant Thornton said it made a profit of £1million from audits in the 18 months to January, down from £13 million for the preceding 12 months.
Hundreds of partners at KPMG, the big four accountancy firm, are facing pay cuts worth hundreds of thousands of pounds as it seeks to conserve cash because of the coronavirus outbreak.
The heads of the UK’s six largest accounting firms staged a virtual meeting on Friday to discuss the risk to their reputations of accepting government funds for furloughing potentially thousands of employees, according to three people with knowledge of the discussion.