Keep up with the latest accountancy news in our weekly round-up…
The final two – from an initial list of eight candidates – are Nigeria’s former finance minister Ngozi Okonjo-Iweala and South Korean trade minister Yoo Myung-hee. If members of the WTO can coalesce around one of them in the final stages of selection, it will be the first time the job has been taken by a woman.
The UK economy grew just 2.1% in August as the country’s economic recovery showed signs of stalling.
The Manhattan District Attorney’s Office said it will not seek to enforce a subpoena for President Trump’s income tax returns until the president’s appeal of the request is resolved. The grand jury subpoena would compel accounting firm Mazars USA to turn over eight years of returns and other financial documents related to Trump and the Trump Organisation.
KPMG announced a new patent-pending blockchain-based capability, Climate Accounting Infrastructure, which is intended to help organisations more accurately measure, mitigate, report and offset their greenhouse gas emissions.
Accountancy firm BDO is facing the prospect of a significant financial hit after its Spanish sister company was ordered to pay part of a €126.8m penalty for its alleged role in an accounting scandal.