Food and drink businesses across Scotland have been awarded a share of £5 million from the Scottish Government to invest in infrastructure, purchase new equipment and upgrade or replace facilities. In total 30 businesses will receive food processing, marketing and cooperation (FPMC) grants to
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The Financial Reporting Council (FRC) has criticised Grant Thornton after its Audit Quality Inspection revealed five out of six of the firm's local audits fell below the expected standard. Grant Thornton was singled out by the accountancy regulator after it investigated 15 major audits of health aut
The Financial Reporting Council's (FRC) audit quality reviews have found that audit firms did not challenge the management of audited entities effectively on the significant judgements they had made. As a result, the regulator has reiterated the importance of a challenge culture in audit firms.
Dundee-based restructuring and insolvency specialists Dunedin Advisory has become an Employee Ownership Trust (EOT). Since making the decision to become an EOT, the firm's staff have fully engaged in the goal of strengthening and developing not only the business but their future personal develo
Dundee-based restructuring and insolvency specialists Dunedin Advisory has become an Employee Ownership Trust (EOT). Since making the decision to become an EOT, the firm's staff have fully engaged in the goal of strengthening and developing not only the business but their future personal develo
Aberdeen-based software firm STC INSISO has signed a partnership agreement with Canadian firm Hatley Engineering and Applied Technologies Inc to distribute their COMET investigation, prevention and root cause analysis package to the Canadian and North American markets. Recently merged STC INSISO pro
The Financial Reporting Council (FRC) has published a new report which sets out what firms can expect from the FRC in the course of supervision with a focus on audit quality and firm resilience. 'Our Approach to Audit Supervision' highlights the FRC's approach to supervision and what the w
Multinational law firm Pinsent Masons has launched a unique equality law specialism that supports businesses in managing the cultural and legal aspects of discrimination and inclusion issues. The new practice addresses a broader challenge facing organisations when equality issues arise, by identifyi
The bond between the Sicilian mafia and American crime families is as strong as ever, it has emerged. Decades after their links were immortalised in The Godfather trilogy, police have swooped in on members of a major crime family.
The Financial Reporting Council (FRC) has today published its third Annual Enforcement Review revealing that its Enforcement Division has grown by 44% in the last year. The increase in the size of the division has helped the watchdog to enable the swifter resolution of cases, while the number
Coutts, the wealth manager and private bank has today announced it is launching in Scotland, with an experienced team, led by Alisdair Dewar, located across a network of offices in Edinburgh, Glasgow and Aberdeen. This move follows the completion of the sale of the Adam & Company investment mana
Perth-based insurance giant Aviva has trawled through its archives to unearth a treasure trove of unusual claims dating back centuries, as it approaches its 325th anniversary on November 12. Historical claims involve a leap-frogging vicar, a swearing parrot and an elephant who attempted to get insid
Aberdeen-based STC INSISO has secured a six-figure contract with HS2 Euston led by principal contractor Mace Dragados JV. Under the three-year contract, the business performance improvements firm will embed COMET, an investigation and root cause analysis toolkit, to effectively manage and resol
The Cabinet Office has threatened to ban KPMG from bidding for government contracts if it does not improve its audit standards. The Financial Times reported that the department wrote to KPMG warning that the action would be taken if the firm could not guarantee that there would be no further miscond
Business advisory and accountancy firm Johnston Carmichael has announced the promotions of 64 people, including the appointment of two partners and a director. Amongst the partner promotions are James Hamilton and Grant Roger of Johnston Carmichael’s audit team which is experiencing a signific