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Big Four accountancy firm KPMG has pulled out of bidding for public contracts after the Cabinet Office threatened to ban the firm following a slew of scandals. Earlier this month, Scottish Financial News reported that the department wrote to KPMG warning that the action would be taken if the firm co

The Insolvency Service has been granted new powers to tackle unfit directors who dissolve companies to avoid paying their liabilities. The new legislation extends the Insolvency Service’s powers, on behalf of the business secretary Kwasi Kwarteng, to investigate and disqualify company director

The corporate finance team of chartered accountants and business advisers Johnston Carmichael has recently supported Springfield Properties plc with its acquisition of Tulloch Homes. Gordon McCarlie, corporate finance director at Johnston Carmichael

NatWest has been fined £264.8 million following convictions for three offences of failing to comply with money laundering regulations. Mrs Justice Cockerill, the sentencing judge at Southwark Crown Court, yesterday said: “….it must be borne in mind that although in no way complici

The Bank of England is likely to relax affordability checks for first-time buyers following a review of market restrictions, according to reports. The tighter checks were introduced in 2014 as part of a series of measures aimed at preventing a repeat of the global financial crisis.

Big Four audit firm Deloitte has launched an app and education programme for S1 and S2 pupils with Innovate Finance.

The 260 partners at accountancy firm BDO have taken home £760,000 each this year. Partners at the firm saw their annual payouts drop to £518,000 in 2020, in the wake of the COVID-19 pandemic.

abrdn has announced the launch of its Emerging Markets Sustainable Development Corporate Bond Fund, which aims to address environmental and social issues without sacrificing returns. An Article 9 product, the Fund is among the first in the Emerging Market Debt marketplace to have a sustainable inves

A consultation has been launched by the Scottish Government on a new heating benefit that will give around 400,000 low income households the reassurance of a guaranteed £50 payment every winter. The Low Income Winter Heating Assistance will be introduced from winter 2022 to replace the current

Scottish Friendly Assurance Society Ltd has announced that Stephen McGee will be joining the business as chief executive officer (CEO), subject to regulatory approval, in April 2022. Mr McGee, who joined the Board of Scottish Friendly as a non-executive director in September of this year, will join

HMRC blocked less than £30 million of suspect claims in the first year of the coronavirus job retention scheme, while an estimated £5.3 billion was paid out due to fraud and error. The figure, obtained by the Financial Times through a freedom of information request, highlights the trade-

Deloitte has launched an app and education programme for S1 and S2 pupils with Innovate Finance.

The Financial Conduct Authority (FCA) has reformed its decision-making process to ensure it can make faster and more effective decisions for consumers, markets and firms. As part of its transformation to a more innovative and assertive regulator, more decisions will be taken by the FCA’s senio

As pressure mounts on businesses facing the prospect of meeting loan repayments in challenging market conditions, accountancy firm Henderson Loggie is urging directors who have taken advantage of Covid financial relief schemes to seek professional advice to avoid stress. Bounce-back loans were made

Inverclyde’s largest independently owned property firm Bowman Rebecchi has celebrated two years in business with a substantial rise in revenues, expansion into residential letting, an office expansion, further recruitment and a sustained drive into the out-of-home advertising market. The Gouro