Year 1 under the General Data Protection Regulation saw no fines handed out in the United Kingdom. Year 2 could be a much different story,
Paul Hodgson
Posted inEurope
U.K.’s Pensions Regulator getting serious about enforcement
Considered “feeble” no more, the United Kingdom’s Pensions Regulator is ramping up enforcement actions against individuals or organizations not in compliance with the law.
Posted inAccounting & Auditing
FRC: Auditors must look for fraud
FRC CEO Stephen Haddrill confirmed that during the transition to the new statutory regulator, the Audit, Reporting and Governance Authority, the FRC will remain committed to tackling “deficiencies in audit and reporting quality vigorously.”
Posted inUncategorized
European Union adopts law to protect gig workers
Gig workers in the European Union—those workers in nontraditional roles—have been granted new rights by the European Parliament.
Posted inAccounting & Auditing
CMA recommends major overhaul of U.K. audit market
The U.K. Competition and Markets Authority (CMA) has recommended reform of the audit market aimed at increasing quality and competition and breaking the stranglehold of the Big Four accounting firms.
Posted inEurope
Brextension, but only if deal approved
After two rejections, U.K. Prime Minister Theresa May has sent a letter to European Council President Donald Tusk to ask for an extension on Brexit.
Posted inBoards & Shareholders
Interserve: Carillion Part II
In an almost carbon copy of the Carillion collapse, peer contracting firm Interserve went into administration on Friday due to a majority of its shareholders rebelling against a debt cancellation deal that would have seen their investment at even lower levels than the deal that was finally agreed to.
Posted inEurope
U.K. government unveils reform plan for modern work practices
In response to a July 2017 review of modern working practices, the U.K. government has issued a long-awaited package of legislation, regulation, and reforms. The “Good Work Plan” sets out seven principles to address challenges facing the U.K. labour market.
Posted inAccounting & Auditing
New, tough regulator to oversee U.K. audit
The U.K. Financial Reporting Council will soon be replaced by a new regulator acting on recommendations from Sir John Kingman of the London Stock Exchange. The government hopes to ensure the United Kingdom going forward has “a world-class audit and accounting regulator.”
Posted inEthics & Culture
U.K. gender pay gap reports rife with defects
A new report from U.K. organization paygaps.com says that compliance with gender pay regulations and guidance is still very weak.