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Stuart Smith, a former senior auditor at KPMG, has been fined £150,000 and banned for three years after admitting to misleading the Financial Reporting Council (FRC). KPMG and Mr Smith admitted their misconduct in relation to the FRC’s Audit Quality Review (AQR) inspection of the audit o

Professional sports affected by the recent Covid-19 crowd limits have been allocated £2.55 million in financial support from the Scottish Government. The funding comes from the £5 million announced for professional sport on 5 January, as part of £375 million in wider business suppo

Jon Holt, the chief executive of KPMG, has admitted that the Big Four firm misled the Financial Reporting Council (FRC) over its audit of collapsed outsourcer Carillion. In a statement released on the first day of a five-week disciplinary tribunal over the behaviour of the firm and six former employ

A court has ruled that a 39-year-old unemployed woman is not entitled to financial support from her retired father. The woman lives in Rome with her mother, who sought €900 per month in alimony from her husband, who separated from her and moved out of the family home in 2013.

Scotland has experienced the highest growth in average household wealth in the last decade at 66%, according to the St James' Place Financial Health Index. This compares to 19% for London and 18% in the North East of England.

Mortgage lenders have announced a voluntary moratorium on possessions from Monday 13 December until Tuesday 4 January 2022. The industry is committed to providing ongoing support to those in financial difficulty as a result of the pandemic, especially those who may be worried about making their mort

Debt collectors are now allowed to reach out to American borrowers on social media and by text message, according to new rules enacted by the Consumer Financial Protection Bureau (CFPB). The change, which was approved by the CFPB last year under the Trump administration, requires creditors to contac

Thirteen business representative groups and industry bodies have jointly written to the Scottish Finance Secretary asking her to introduce a business rates discount for all retail premises for the coming financial year. The retail industry in Scotland employs 230,000 people and traditionally account

Edinburgh-based financial provider Aegon UK has posted a 57% year-on-year increase in its third-quarter operating profit, reaching £44 million. The firm said that the rise was driven by higher fee revenues resulting from "favourable" equity markets, a provision release and decreased expenses.

Perth-based Carbon Financial Partners has been recognised with the Gold Standard Award for Independent Financial Advice for the eighth year in a row. The Gold Standard, now in its 19th year, is a benchmark of excellence in the profession. Carbon was one of four firms to win the award in the category

A socialite's speeding fine has been halved to £50 after she requested special treatment due to “financial hardship”.

Accountancy firm Grant Thornton has been slapped with a financial sanction of nearly £720,000 in connection with failings in its audits of Interserve. Interserve, a major outsourcing company, went into administration in 2019 after financial restructuring plans drawn up by the company’s l

Businesses in Scotland have seen a marked increase in levels of businesses experiencing advanced financial distress in the third quarter of 2021 compared to the previous quarter as the pressures of the pandemic took their toll following two years of restrictions and lockdowns. The latest Red Flag Al

Income generated by Scottish Enterprise’s equity and debt investments exceeded £50 million during the last financial year, new figures show. Seven trade exits contributed to income totalling £56m in FY2020/21, as did a partial realisation of the economic development agency’s

Edinburgh-based financial services consultancy CBS Consulting has reported 110 per cent growth in its revenues in a year dominated by the Covid-19 pandemic. The company provides change management advice and support to UK financial services companies in the areas of business transformation and digita