Coronavirus: UK worst hit among major economies & more…Keep up with what has been happening this week in our latest accountancy news round-up…
The global chairman of PwC has pledged to “aggressively” review how the firm can better hunt for frauds following Wirecard and other accounting scandals.
Companies around the world have moved more of their operations online, plan to reduce office space and have made recruiting and retaining staff their top priority since the coronavirus pandemic struck, a survey showed on Tuesday.
Big Four firm PwC said its global revenue grew 3% to $43bn in 2019-20, despite the impact of the coronavirus pandemic.
KPMG said its fees for the work would be £16 million as it disentangles the business ,which has had different owners of the various parts. KPMG said they expected unsecured creditors would get a dividend but could not give any indication of how much.
PwC UK will delay publishing its annual results until next year as it assesses the impact of the pandemic on pay and bonuses for its staff and partners.
PwC is being sued for £63m over accusations the Big Four accountancy firm conspired against a former client by releasing private financial information about the client to rival during a takeover approach.
Grant Thornton LLP is awaiting a ruling from an appeals court that’s expected to decide in the next few weeks on a case involving a manufacturing company owner who sued the firm for fraud, negligence and other claims.
The coronavirus is likely to trigger a tsunami of UK fraud cases when courts and law enforcement get back to full strength, accounting firm KPMG warned.
The German auditing regulator is reportedly examining EY in connection with its involvement with the disgraced payment services firm Wirecard.