The UK Government is suing KPMG for £1.3 billion over allegations it was negligent in its audit of Carillion in 2016. Government ministers have accused KPMG of failing to respond to "red flags" in Carillion's accounts ahead of its collapse in 2018.
Venture Capital (VC) investment in Scotland’s scale-up businesses more than doubled in 2021 as global investors continued to look beyond London last year, according to the latest figures from KPMG. Scotland’s scale-up businesses finished 2021 on a high with almost £100 million in V
KPMG partners were given a six-figure pay rise in 2021 despite regular criticism from regulators throughout the year. KPMG's 571 partners took home an average of £688,000, 20% more than the £572,000 received in 2020.
The £4.3 billion of Covid loans that may have to be written-off by The Treasury due to fraud and highlighted by the resignation of Lord Agnew last week, could be eclipsed by businesses failing to repay their CBILs and BBLs Covid support loans, Blair Milne, head of Restructuring with Azets in S
An upturn of confidence following the gradual easing of Covid restrictions is fuelling an increase in investor confidence and sparked a record year for the Scottish Corporate Finance team at Grant Thornton. Over the last calendar year, the team completed 13 deals across the country, totalling £
PwC is set to recruit more than 100 people into its growing financial services practice as Scotland’s business community adjusts from the disruption of the Covid-19 pandemic and looks towards a sustainable and inclusive future. Representing a 10% uplift in PwC’s total headcount across Sc
KPMG UK has posted growth of 10% in 2021, with revenue rising from £2.14 billion to £2.35bn. For the year ended 30 September 2021, KPMG's profit before tax increased from £288 million to £436m.
KPMG has withdrawn from bidding for Scottish Government contracts after Scottish ministers put their relationship under scrutiny following a series of high-profile accountancy scandals. KPMG recently won a controversial £546,000 National Care Services (NCS) contact, which led ministers t
Anderson Anderson & Brown Corporate Finance (AABcf) has described 2021 as a 'bumper year' for M&A activity in its Deals+ half-year market review. The review, which highlights selected M&A and fundraising transactions across Scotland, revealed that after a somewhat lull in the market duri
With research from the Federation of Small Businesses showing that a third of Scottish business owners faced an increase in late payment in the last quarter, chartered accountant Wylie & Bisset is advising SMEs that knowledge is key and cash is king when dealing with the issue. Catherine Livings
After some signs of economic recovery earlier last year, businesses in Scotland, along with the rest of the UK, saw a dramatic uplift in instances of advanced financial distress in the final quarter of 2021 as the emergence of the new Omicron variant hampered growth for businesses already impacted b
Glasgow-based wealth management practice Loch Fyne Financial has appointed Jackie Coyne as its newest certified financial planner. Ms Coyne’s role focuses on delivering high quality services and wealth management to the firms growing database of clients.
Aberdeenshire-based financial advisory firm Phil Anderson Financial Services has reported that 2021 was a record year for them, achieving a turnover of £1.33 million, a 20% increase from 2020 and their best financial performance since launching in 2010. Despite the challenges the economy
Paul Dounis and Gareth Harris of RSM Restructuring Advisory LLP were appointed joint administrators to Alpha Homes (Leicester) Limited on 23 December 2021. Alpha Homes (Leicester) Limited was part of the Alpha Homes Group, a student accommodation provider across the UK, and RSM has been appointed to
Callum Carmichael and Michelle Elliot, partners with FRP Advisory, have sold the business, assets and goodwill of Edinburgh-based internet retailer Flowercard International Limited to Flowers in Cards Limited, a new venture formed to acquire the business. Flowers in Cards Ltd plans to invest in and