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The Financial Reporting Council (FRC) has fined Grant Thornton for repeated breaches of ethical standards. Such breaches included failing to maintain its independence over its audit of collapsed alcohol firm Conviviality.

Glasgow-based Maven Capital Partners has become an accredited lender under its Midland Engine Debt Fund, which is backed by a Coronavirus Business Interruption Loan Scheme (CBILS) guarantee. Under the scheme, Maven will now be able to provide financial support to smaller business which have bee

The Edinburgh Tax Network, in conjunction with Mazars and Terra Firma Chambers, will present a webinar for those looking to plan their personal finances during and beyond the COVID-19 crisis on 16 July 2020 from 1pm to 2.30pm. With speakers, Kenny Stevenson (Financial P

Critics have argued that yesterday's Financial Reporting Council (FRC) order for the UK's Big Four accountancy firms to separate their audit practices has not gone far enough to remove conflicts of interests within big audit companies. Yesterday, Scottish Financial News reported that the FRC had out

Finance secretary Kate Forbes has urged the UK Government to introduce a range of vital new measures to support Scotland’s response to the current economic crisis brought about by the coronavirus pandemic. Writing to the Chancellor in advance of his Economic Update on July 8, Ms Forbes has cal

Since the start of the coronavirus crisis, audit firms across the UK have introduced a range of additional measures to improve their evaluation of companies’ going concern assessments.

Smart Metering Systems (SMS), the Glasgow-based energy tech firm, is returning its furlough cash received from the UK Government. The company had suspended its smart meter installation activities on 22 March 2020 as a result of the developing coronavirus situation. Due to significant uncertainties a

Standard Life Aberdeen (SLA) has appointed Stephen Bird as its new chief executive as Keith Skeoch announced he will stand down from the role later this year. Mr Bird has an established track record of delivering exceptional value to clients and customers, creating high-quality revenue and earnings

Elevate Credit International Limited (ECIL), a payday lender which sold loans under the Sunny brand, has gone into administration in the UK with Ed Boyle and David Pike of KPMG appointed as administrators of the firm. The lender has blamed its financial difficulties on the coronavirus pandemic, as w

Members of Johnston Carmichael's restructuring team have published a commentary on the introduction of the Corporate Insolvency and Governance Act 2020, which came into force on June 26 bringing new measures to provide extra support to businesses in financial difficulty due to COVID-19. The int

New Wave Foods, trading as Shore the Scottish Seaweed company, has grown its product range on the back of a £1.7 million finance package. Alness-based Shore uses sustainably harvested Scottish seaweed to manufacture plant-based snacks and foods. It launched its first range of snacks in late 20

Barclays has slashed rates for affluent borrowers as mortgage customers with a sizeable deposit can now fix their mortgage for ten years at less than 2%. 

Perthshire-based enterprise support organisation GrowBiz has launched the first multi-million-pound campaign of its kind to support the thousands of micro-enterprises across rural Scotland disproportionately affected by the coronavirus pandemic. Over 60% of rural and island businesses in Scotland ha

Retail property company Intu, the owner of the Braehead complex near Glasgow, is bracing for administration as it appointed KPMG as a "contingency" in case funding talks fail.

Cash generation of businesses in Scotland was worryingly low heading into the cash crunch triggered by the coronavirus pandemic, according to a new study by accountancy and business advisory firm BDO. BDO’s analysis of UK businesses shows that those in Scotland converted just 2.7% of the