By Neil Hodge2023-10-16T14:00:00
Spain’s labor ministry fined the Big Four accountancy firms at least 1.4 million euros (U.S. $1.5 million) total for overworking and underpaying their respective employees.
Despite no complaint being lodged by any employee, the Big Four offices were each raided in November after the Spanish Ministry of Labor opened an investigation into the firms’ working practices regarding concerns employees were working longer hours than their employers’ records showed.
In January, Labor Minister Yolanda Díaz warned, “The excesses and abuses of overtime hours are being investigated and the mandate is clear. … No big company, no matter how big, is beyond the law.”
2023-10-12T18:43:00Z By Kyle Brasseur
KPMG accepted the conclusions and record penalties levied against it by the U.K. Financial Reporting Council for the “exceptional” level of deficiencies found to have taken place during the Big Four audit firm’s work at collapsed construction company Carillion.
2023-02-07T21:14:00Z By Neil Hodge
Recent enforcement cases against food delivery company Glovo and online retailer Amazon in Spain have shone a spotlight on the compliance difficulties associated with engaging workers as freelancers rather than full-time employees.
2022-09-12T19:05:00Z By Neil Hodge
Big Four audit firm PwC is being sued by one of its employees for more than £200,000 (U.S. $234,000) after he injured himself at a post-work drink event in 2019. The incident is not the first where “team-bonding” efforts have proven problematic.
2025-08-27T14:11:00Z By Adrianne Appel and Oscar Gonzalez
Synapse Financial Technologies, the troubled California fintech software provider, has agreed to let the Consumer Financial Protection Bureau (CFPB) eventually file a claim on its bankrupt estate.
2025-08-25T20:49:00Z By Adrianne Appel
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says. An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former ...
2025-08-25T18:24:00Z By Adrianne Appel
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
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