Keep up with what has been happening this week in our latest accountancy news round-up…

Audit sector reforms to be released before Christmas

Senior auditors at Mazars and MHA have reported that long-awaited reforms to the audit sector are due to be released by the Department for Business, Energy and Industrial Strategy before Christmas.

Government monthly borrowing at sixth-highest level since 1993

Data published by the Office for National Statistics (ONS) has shown that the total debt stands at 100.8% the size of the entire UK economy with it reaching £2.1tn in October, as borrowing hit its sixth highest monthly total since records began in 1993.

M&C Saatchi bosses quit after 2019 accounting scandal

M&C Saatchi bosses, Jeremy Sinclair, David Kershaw and Bill Muirhead are set to step down and leave the company after last year’s scandal which cost £11.6m from accounting errors.

London property developer jailed for diverting funds worth £91k

Harrow Crown Court have sentenced Vijay Madhaparia, a property developer, to 27 months in jail after diverting over £90,000 of customer payments to his own personal account and sending false documents to tax authorities.

Deloitte closes four UK offices as employees start to work from home

Working from home has become a permanent fix as Deloitte announced that they will be closing four of its 50 offices last month. Offices in Gatwick, Liverpool, Nottingham and Southampton will close with 500 workers permanently working from home.

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