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

ORIX acquires 70% stake in Gravis Capital Management

Japanese financial services firms, ORIX, in in partnership with Gravis Capital Management after acquiring 70% of stake which will allow Gravis to broaden its investment platform in Europe.

ICAEW warns that an audit reform will fail with important changes

In a manifesto published by the ICAEW, it has stated that the success of any audit reform and changes to the structure and regulation of firms will depend on a clearer understanding of the role and the purpose of audit based on their five principles.

25,000 jobs are at risk after Debenhams and Arcadia collapse

After Arcadia and Debenhams have collapsed and Debenhams announced the beginning of their liquidation process, thousands of jobs have been left at risk with uncertainty and fear from staff who may lose their jobs.

FTSE 100 highest in nine months after oil prices rise

FTSE 100 rose by 0.8% on Friday with oil producers seeing arise after they agreed to continue production. Over the last 5 weeks, FTSE 100 has risen by 17% after news of a Covid-19 vaccine raised hopes that the economy will recover.