The best of Scotland's financial and professional services industry was celebrated in Edinburgh last night at the 2021 Scottish Financial Services Awards, held in-person for the first time since the pandemic.
Big Four accountancy firm EY has announced that it will invest $2 billion over the next three years to strengthen the quality of its audits. EY revealed that the investment is part of a $10bn plan to help "further build trust" in the capital markets which will be supported by the implementation of t
Scottish businesses Ascensos, Bella & Duke, Good-Loop, Snag Group Limited, and Systal Technology Solutions have been chosen to advance to the final stage of EY Entrepreneur Of The Year UK. The Scotland 2021 winning categories are:
The Financial Reporting Council (FRC) is preparing to tighten the governance code for Britain’s biggest audit firms in a move that will increase pressure on EY to split the roles held by its UK leader. Scottish Financial News reported yesterday that the FRC announced a consultation on pro
The Financial Reporting Council (FRC) has announced sanctions against Big Four accountancy firm EY and audit engagement partner Mark Harvey in relation to the statutory audit of the consolidated financial statements of bus company Stagecoach Group plc. The sanctions concern the audit conducted by th
US-based packaging firm Novolex has acquired Vegware, an international provider of compostable foodservice packaging headquartered in Edinburgh, for an undisclosed sum. UK Vegware’s teams in both the UK and US are expected to join the Novolex family. The Vegware brand will remai
EY has strengthened its Scotland team by announcing 16 senior appointments, including four new equity partners, across all service lines. Blake Adlem (Financial Services Assurance, based in Edinburgh), Blair Hopkins (People Advisory Services, based in Glasgow) and Scott Kenyon (Consulting, based in
Scotland continues its decade-long trend as the UK’s most attractive region for financial services foreign direct investment (FDI) outside of London, according to EY’s latest UK Attractiveness Survey for Financial Services.
Scotland bucked a UK and European trend by attracting more Foreign Direct Investment (FDI) projects in 2020 than in 2019, while the country has reached its highest-ever attractiveness level for investment and bolstered its position as the UK’s most attractive FDI location outside London, accor
Staff at Big Four accountancy firm EY will be allowed to work from home for at least two days per week after all coronavirus restrictions are eased. Yesterday, EY told UK employees that 17,000 staff would shift to a “hybrid working model” that mixed home and office working once social-di
EY has announced the appointment of Tricia Nelson as UK & Ireland managing partner - People Advisory Services (PAS) with immediate effect. In her new role, Glasgow-based Ms Nelson will lead the firm’s People Consulting strategy, working closely with all EY’s service lines to support
EY is giving thousands of its UK staff a share of a £20 million bonus pot after the Big Four firm saw a better than expected revenue bounce-back from the coronavirus crisis. It has been reported that EY is to award an average £1,100 one-off payout to 17,500 its employees for their hard w
UK businesses have avoided using litigation to resolve commercial disputes during the COVID-19 pandemic, instead turning to negotiation and mediation, according to new research by EY. The research suggests that UK companies have heeded official guidance, released by the Cabinet Office in May 2020, w
UK listings experienced a very strong start to the year with more funds raised in the opening quarter of 2021 than in any other opening quarter since 2007, and the most raised in a single quarter since 2014, according to the latest EY IPO Eye.
More than half of the UK’s listed companies currently at heightened risk of insolvency made a claim for government support in December 2020 and could face a financial cliff edge when it comes to an end, according to the latest EY analysis of profit warnings.