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In its annual inspection, the Financial Reporting Council (FRC) noted an improvement in the audit quality of the UK's largest firms, including BDO, Deloitte, EY, Grant Thornton, KPMG, Mazars, and PwC. The FRC reported that 77% of the audits inspected were of high quality or required limited refineme

Loch Lomond Distillers has reported a significant financial upswing with a 20% increase in annual turnover, surpassing the £100 million threshold for the first time.

The Financial Reporting Council (FRC) has imposed fines totalling £5.01 million on PwC and KPMG for audit failings in relation to Eddie Stobart Logistics (ESL), a logistics company listed on the Alternative Investment Market.

The Scottish Government has established a Tax Advisory Group to deliver strategic advice on the tax system as part of its Medium-Term Financial Strategy. This move is aligned with a recommendation from the New Deal for Business. The newly-formed group consists of leading economists, academics, and r

In a recent panel event organised by the Scottish Financial Enterprise (SFE), senior executives from Encompass Corporation, Capgemini, and abrdn advocated for stronger diversity and inclusion strategies within the workplace, especially in the FinTech sector. These leaders, consisting of Ashton Montg

HMRC has levied fines on 184,000 individuals earning less than £12,570 annually for failing to file self-assessment tax forms in a timely manner, during the 2020-21 financial year. This income level exempts people from income tax, yet over 180,000 low-income individuals were penalised despite

New data from financial mutual Scottish Friendly has revealed the number of newly opened stocks and shares ISA policies dipped -7% in Q1 2023 compared with Q4 2022. Meanwhile, the value of those new policies also dipped -6% over the same period.

Scottish intellectual property firm Lawrie has reported growth of 12% this year and projected total sales of around £3.5 million for the upcoming financial year. Growth areas for the patent and trade mark attorney firm has primarily come from increased trade mark work and patent filings i

Accountancy, business and financial advisory firm Armstrong Watson has promoted Martin Johnston to audit and assurance partner. Mr Johnston, who initially joined the firm's Glasgow team in 2020 as an audit and assurance director, has been instrumental in augmenting Armstrong Watson's business p

Social Housing Magazine has produced an interesting article on audit provision in Scotland. Using the 2021-22 audited financial statements (AFS) returns compared to the 2017-18 AFS returns from the Scottish Housing Regulator, it presents some interesting data and perhaps enables some thoughts on how

Scottish fintech firm Beeks Financial Cloud and IPC, its partner, have agreed a deal with the Johannesburg Stock Exchange (JSE), Africa's largest stock exchange, to power customer private cloud deployments. The collaboration will see the deployment of an advanced managed Infrastructure-as-a-Service

The chair of the Financial Reporting Council (FRC), Sir Jan du Plessis, has countered claims from senior partners at the Big Four accounting firms stating that they should increase junior auditors' pay to make the sector more appealing to young recruits.

Scotgold Resources has announced the immediate appointment of Sean Duffy, the company's chief financial officer, as the interim CEO. Mr Duffy will retain his CFO role while stepping into the CEO position, left vacant by Phil Day who has declared his intention to return to Australia.

Figures collated by Highland and Islands Enterprise (HIE) have revealed that the agency approved more than £5.37 million investment across Caithness and Sutherland in the financial year 2022-23. The funding is helping a wide range of projects to progress that will support economic growth and b

A third (36%) of UK businesses plan to adapt their strategies to navigate financial challenges over the next six months, according to new research from HSBC UK.