BDO is the latest major accountancy firm to announce cuts to partners remuneration and the furlough of staff with the firm decreasing partner pay by a fifth amid the coronavirus pandemic. BDO, which is the fifth-largest accounting group in Britain by revenues, told its 5,500 employees yesterday
The combination of a reduction in oil prices and the coronavirus crisis has created the most turbulent market conditions since the financial crisis in 2008, severely impacting Initial Public Offering (IPO) activity, according to EY’s latest IPO tracker, EY IPO Eye
Chancellor Rishi Sunak's announcement that the UK Government will pay the wages of employees unable to work due to the COVID-19 outbreak has been roundly welcomed. The chancellor said that the government will pay 80% of salary for staff who are kept on by their employer, covering wages of up to &pou
Accountancy firm EY has appointed Hywel Ball as its UK & Ireland managing partner and chairman as it prepares for its audit and consultancy divisions to be divided. EY offered the job to Mr Ball after a leadership content where he beat Lynn Rattigan, EY’s current UK chief operating o
Sue Dawe, EY’s head of financial services in Scotland, has been appointed as a patron of Women in Banking & Finance (WIBF). Ms Dawe joins as the fifth patron of WIBF and is the only patron to be based in Scotland.
Global packaging business Aldus has agreed to buy API Foils in Livingston, which went into administration earlier this month. The packaging factory, which makes foils and laminates, closed its doors on the 31st of January, causing 107 job losses at the Livingstone factory site.
Colin Peter Dempster and Robert Hunter Kelly of EY have been appointed as joint administrators of the Livingston-based packaging company API Foils. The packaging factory, which makes foils and laminates, closed its doors on Friday with the loss of 107 jobs at the Livingston site.
Scottish companies considering a listing will hear from a panel of experts on how it can work best for their business at an IPO dinner hosted by Pinsent Masons and EY. Gordon McArthur, chief executive of fintech company Beeks Financial Cloud Group, which floated in 2017, and corporate finance expert
The Big Four accounting firms are engaging in talks with the audit regulator regarding a self-imposed break-up in an attempt to get ahead of government enforcement action. The Financial Reporting Council (FRC) is currently drawing up guidelines for the separation of audit and consulting operations a
Following the announcement of a majority Conservative government, various financial and business services in the UK have given their response. Chris Sanger, EY’s head of tax policy, commented on what the General Election result means for UK tax and the Chancellor’s Budget in the ne
Challenger accountant BDO has rivalled The Big Four accountancy companies as it has taken on nine FTSE 250 audit clients this year. BDO's expanded client base comes as 'The Big Four' (Deloitte, PwC, EY and KPMG) increase their fees and cast off risky customers.
Partners at EY are due to take a pay cut, despite the business making record revenues. The Times reports that the 702 partners at EY received an average of £679,000 in the year to the end of June, a decrease of 2% on the previous year's pay of £693,000.