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