Keep up to date with the latest accountancy news in our weekly round-up…

 

Bank of England: Economy still set for record slump as rates held

The Bank of England has said it expects the UK’s economic slump to be less deep than first feared, but could take longer to bounce back from the coronavirus than previously thought.

UK finance watchdog flags concerns about repeat lending, affordable credit

Britain’s financial watchdog is stepping up its vigilance of credit providers who encourage customers to take on more loans than they can afford, putting them at risk of a personal debt spiral that could ramp up their financial difficulties.

Deutsche Bank gave Donald Trump financial records to New York prosecutors

New York prosecutors investigating Donald Trump’s finances previously issued a subpoena to Deutsche Bank, one of the foremost lenders to the president’s business, as part of their inquiry – and the bank complied, according to the New York Times.

Virus will spur a ‘tsunami of fraud’ in the UK, KPMG warns

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.

German regulator examines EY over Wirecard audits

The German auditing regulator is reportedly examining EY in connection with its involvement with the disgraced payment services firm Wirecard.

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