Noting that a number of U.S. headquartered banks are due to rotate their U.K. subsidiary auditor soon, the FRC said this would result in the group auditor in the U.S., which is not required to rotate, being different from the U.K. subsidiary auditor. What then?
Paul Hodgson
Posted inEurope
Labour says no to no-deal Brexit, yes to second referendum
The U.K. Labour Party announced it would push forward an amendment to the government’s Brexit motion that would make its “credible alternative plan” the Brexit negotiating position.
Posted inEurope
E3 moves to circumvent U.S. sanctions on Iran
The E3 has set up a special trade channel designed to allow companies in the European Union to circumvent U.S. sanctions in an effort to continue humanitarian trade with Iran.
Posted inEurope
Big Four: Please don’t break us up
An in-depth look at responses to the Competition and Markets Authority proposals to reform the U.K. audit market.
Posted inEurope
Brexit vote unlikely to produce clarity, so government prepping businesses for the worst
While the current Brexit deal (set to be voted on Tuesday evening) remains the U.K. government’s top priority, it understands preparation for all scenarios is necessary.
Posted inEurope
U.K. government further tightens AML net
A reform package introduced recently by the U.K. government aims to increase transparency and tackle corruption in limited partnerships.
Posted inEurope
FRC issues corporate governance principles for private companies
The Financial Reporting Council (FRC) issued its long-awaited corporate governance standards for private companies, providing a framework to help the companies meet legal requirements and improve and disclose their governance.
Posted inEurope
Big Four split on solutions to industry’s problems
Deloitte and KPMG have gone further than EY and PwC in their comments to the current CMA review of the industry, but it seems unlikely the members of the Big Four won’t get on the same page.
Posted inEurope
Brexit deal: Take it or leave it?
British Prime Minister Theresa May’s proposed Brexit deal has been controversial, but there appears to be very little room for negotiation if it is scrapped.
Posted inEurope
U.K. money laundering task force launched; watch out McMafia!
A new U.K. initiative aims to enhance processes for catching fraudsters and financial service abusers while educating industry and government agencies on how to identify and prevent economic crime.