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...The surge in fees has also coincided with the Financial Reporting Council, the UK audit watchdog, increasing enforcement over poor quality audits and demanding that firms improve their work after a slew...
...In its annual report published in late March, Flutter said it had ditched the planned switch to Deloitte because of the “complexity” it faced in shifting to US accounting standards and related changes to...
...Institutional Shareholder Services, another proxy adviser, is calling on shareholders to abstain from voting on Gilbert’s role....
...Macro hedge fund Brevan Howard is cutting about a hundred jobs amid a period of poor performance at the firm....
...The Financial Conduct Authority’s new Consumer Duty is being hailed as a game-changer, raising standards of consumer protection (and jargon removal) across the sector....
...It is traditional and sensible to exclude the financial sector when valuing the market, because financials generally and banks in particular cannot be sensibly valued on earnings....
...Investigators found that KPMG staff shared questions and answers to mandatory internal exams covering US auditing standards, professional ethics and managing conflicts of interest over the course of at least...
...It has also been barred from taking on new clients in Canada for failing to meet professional standards in public company audits there, and founder Ben Borgers has been censured in Colorado over the poor...
...UK asset manager Ruffer is planning to axe jobs across the business after a poor investment performance last year, as the industry battles rising costs and pressure on profits....
...The watchdog also highlighted EY’s poor handling of red flags that pointed to irregularities....
...But according to the platform, this approach may no longer be enough to sustain a comfortable standard of living in later life, especially given the poor performance in recent years of purportedly safer...
...The Financial Times has reported a number of possible candidates....
...At best, it generates “proto-picks”: companies with promising sets of financial characteristics that, with further work, might turn into stock picks....
...“The trends that this review has identified; of creeping leverage, large exposures, complicated structures, and poor risk aggregation, all suggest that banks may not be prepared for such a test, if or when...
...“Switzerland’s regulation must remain broadly aligned with global standards.”...
...That was lowered to non-compliance with the relevant auditing standards,” he told the Financial Times. “That is now the lowest threshold of any professional in the UK....
...PCAOB inspectors found Bogrers’ auditors failed to properly check clients’ revenues, accounts receivable, debt levels, fair value assumptions and numerous other key financial metrics....
...But the unintended consequences of publicity could be more severe in financial services than in other sectors. Ofgem probes rarely cause customers to bolt or significantly move share prices....
...The model, in which Thames Water’s cash flows service different tiers of debt, tends to result in higher investment-grade ratings for top-ranked bonds than standard corporate bonds at companies with similar...
...US financial services giant Charles Schwab is “closely” watching the UK regulatory landscape in the hope of distributing its US-domiciled exchange traded funds into the market later this year....
...The Financial Times has not been able to independently determine the provenance of the letter....
...“KPMG’s audit did not meet the required quality standards in a number of respects amounting to serious audit failings and breaches of audit standards,” said Claudia Mortimore, deputy executive counsel at...
...They function as a place for depositors to safely store their cash and obtain other financial services beyond loans....
...Polly Neate, chief executive of housing charity Shelter, said Gove’s proposed changes risked “creating more poor-quality housing with squalid conditions” and that “the safety standards in homes like these...
...Researchers described the lack of options offered by traditional lenders to consumers with poor credit scores as “market failure” and in part blamed the clampdown on payday lending by the Financial Conduct...
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