Practice & Industry

Insight / KPMG finds buyer to fit Jones Bootmaker

KPMG has found a buyer for Jones Bootmaker, the footwear retailer with over 100 branches across the UK, selling the company to private equity firm Endless, in a move which saves the company from going into administration

Accounting / PwC agrees settlement in $2bn MF Global legal case

PwC’s US firm has come to a settlement with former audit client MF Global Holdings, ending a high profile trial in New York over claims the firm was allegedly negligent in its accounting advice to the derivatives broker, which went bankrupt in 2011 after suffering huge financial losses on European government debt

Insight / Crest Nicholson shareholders question foundations of bonus plans

Housebuilder Crest Nicholson is to push ahead with its original plans for executive bonuses, despite a shareholder revolt against the company’s pay policy at its annual general meeting this week

Insight / Over half of accountants unhappy with their pay

Pressure has increased on firms to boost employee salaries as the 1.4% salary rise in accountancy falls below the UK average and 60% of finance employees plan to leave their job this year with the main reasons being lack of opportunity (30%) and pay (27%)

Insight / Accountants viewed as boring but well-paid

Stereotypes of accountants being boring but wealthy have not changed over the years as 44% of people consider accountancy to be the most boring career while over a quarter (27%) believe that it is the best paid profession

Insight / Cheques enter 21st century with one-day clearing

A new electronic image scanning system for cheques will reduce the current maximum of six working days to clear cheques down to one day using an industry-wide, image-based cheque clearing system

Insight / PwC appointed administrators to footwear retail chain

Tony Barrell, deals director, and Mike Jervis, partner, of PwC have been appointed as joint administrators of Brantano Retail Ltd, after the value shoe retailer collapsed for a second time, putting some 1,000 jobs at risk

Insight / Adopting flexible working: useful tips

How can employers stuck in nine to five thinking free themselves up for flexible working? Jude Tavanyar, leadership consultant, explores the key issues for any organisation looking to move towards a flexible working approach

Insight / London firm CBW in Guernsey partnership

Carter Backer Winter (CBW), based in the City of London, has entered into partnership with local accountancy firm Chandler Backer & Co, to form CBW Guernsey in a new joint venture to provide islanders with a range of services, including tax and transaction services

Accounting / FRC proposes simplifications to FRS 102 to cut costs

The Financial Reporting Council (FRC) is consulting on proposals to make some significant changes to FRS 102 to clarify loan definitions and alter the market definition of some directors loans 

Insight / MPs challenge Chancellor over cyber security risks

Andrew Tyrie, the chair of the Treasury committee, has challenged the Chancellor about arrangements to ensure cybersecurity in the financial services sector, which he describes as ‘opaque’ and ‘a headless framework’, warning these are potentially inadequate in tackling the risks facing the banking system

Tax / Rural broadband: how to improve access as Making Tax Digital looms

The postcode lottery for business-ready telecoms for rural enterprises remains a problem, only exacerbated by HMRC's rushed plans to roll out Making Tax Digital from 2018 onwards. Dave Millett, managing director of telecoms brokerage Equinox, asks what can be done

Insight / EU’s financial regulator up for review

The European Commission has launched a consultation on the role of the European Supervisory Authorities (ESA) to review its effectiveness and long-term stability ahead of Brexit, with possible reform to give it more power in regulating financial markets across the EU

Accounting / IFRS 9 transition arrangements fraught with difficulty, warns EBA

The European Banking Authority (EBA) has issued an opinion on the transitional arrangements and credit risk adjustments to mitigate the effect of the accounting standard IFRS 9 Financial Instruments on prudential ratios, warning that it could mean banks recognise lower loan-loss provisions or impairments than they do at present

Insight / Finance staff pick Dublin as post-Brexit location

Dublin’s financial services sector stands to gain from a post-Brexit boost when it comes to bankers choosing the location they would most like to live, once they are displaced from London, according to a survey by online removals platform Movinga
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