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

 

UK economy rebounds more slowly than expected

The UK’s economy rebounded more slowly than expected in May, growing just 1.8% from the previous month, as the gradual easing of lockdown had a modest impact.

UK seeks to raise record 385 billion pounds from debt markets

The United Kingdom Debt Management Office is currently on track to raise an unprecedented 275 billion pounds between April and August, financing record borrowing that funds COVID-19 spreading, replaces lost tax revenue and repays maturing debt.

FTSE 100 slips as US-China tensions continue

The FTSE 100 has opened lower as investors weigh up mixed Chinese economic data and US-China tensions outweigh optimism over a coronavirus vaccine.

UK accounting firms criticised by watchdog for ‘unacceptable’ work

The accounting watchdog has hit out at the UK’s largest auditors, after its annual inspection uncovered an “unacceptable” number of poorly executed company audits.

AQI 2020: A third of PwC audits needed improvements

A third of the PwC audits reviewed by the Financial Reporting Council int his year’s audit quality inspection were judged to require improvement.

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