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The Financial Reporting Council FRC has outlined its preliminary thoughts to the International Sustainability Standards Board (ISSB) on the prototypes published by the Technical Readiness Working Group to support the development of International Sustainability Standards. The FRC has said it strongly

Outdoor education centres facing financial challenges as a result of the COVID-19 pandemic can apply this month to a new £2 million fund launched by the Scottish Government. Available for private sector and third sector centres, the support will help with running costs and enable staff to deli

New research published by Financial Consultants, Enryo, shows that Scotland has both the highest cash and mobile payment (e.g. Apple/Google Pay) usage in Britain. Over half of the country’s population (54%) now uses cash at least once a week to pay for goods and services, while 33% of Scots us

The Financial Reporting Council (FRC) has commenced an investigation into the statutory audits by PwC of the consolidated financial statements of Babcock International Group plc for the years ended 31 March 2019 and 2020. The FRC has extended its original investigation, which intended to analyse aud

The Financial Reporting Council (FRC) has today published its 3-year Plan for 2022-25 as the watchdog prepares to transition to the Audit, Reporting and Governance Authority (ARGA). The plan contains a detailed breakdown of intended expenditure for 2022-23 and a summary of the expected trajectory of

The Financial Conduct Authority (FCA) is set to launch two market studies and gather further information to investigate access to wholesale data. In response to a Call for Input, the FCA heard concerns that limited competition in the markets for benchmarks and indices, credit ratings and trading dat

The Financial Conduct Authority (FCA) is working to become a more innovative, adaptive and assertive regulator in 2022. The regulator said that this approach will enable the FCA to meet the challenges of the increasingly data-driven financial services sector in the UK, the shift to a net-zero econom

The Financial Reporting Council (FRC) has fined Mazars £314,000 for failing to comply with the Regulatory Framework for Auditing in its audit of a local government authority’s 2019 financial statements. The FRC's Enforcement Committee found failures in the reviewed audit, which it consid

The Financial Conduct Authority (FCA) has fined HSBC £63,946,800 for failings in its anti-money laundering processes. HSBC used automated processes to monitor hundreds of millions of transactions a month to identify possible financial crime. However, the FCA found that three key parts of HSBC&

The hearing of the formal complaint of ­the Executive Counsel to the Financial Reporting Council (FRC) under the Accountancy Scheme against KPMG, a former KPMG partner, and certain current and former KPMG employees will begin on 10 January 2022. The Formal Complaint alleges Misconduct against KP

The Financial Conduct Authority (FCA) has accepted recommendations made by John Swift QC, who was commissioned to review the design, implementation and operation of the redress scheme set up for customers who were missold interest rate hedging products (IRHPs) from 2001. The actions taken by the Fin

The Financial Conduct Authority (FCA) is proposing that firms offer a new 'default' investment option to help non-workplace pension customers save for their retirement. Currently, non-workplace pension customers have to choose their own investments from an increasingly wide range of options. This co

Aberdeen-based adventure travel business Camperceilidh Campers is gearing up for further growth after securing financial support for its expansion plans and riding the staycation boom during the covid-19 pandemic. Set up in July 2020 by ex-oil and gas sector manager, Eileen O’Farrell, Camperce

A new Scottish Government scheme will provide up to £715,000 of financial support to pig producers affected by the temporary closure of the abattoir at Brechin earlier this year. The Pig Producers Hardship Support Scheme delivers essential funding to eligible pig producers who supplied the Qua

Independent financial advisory firm Ascot Lloyd has completed the acquisition of Aberdeen-based Central Investment Services (Scotland) Ltd, building on the Group’s 12 acquisitions over the last 12 months. Central Investment has a longstanding track record of success in the Scottish market