‘BHS’s accounts were misleading and featured unrealistic forecasts before Sir Philip Green sold the now collapsed department store chain, according to a report into the role of the retailer’s auditor, PwC.’
The Guardian, 15th August 2018
Source: www.theguardian.com
‘The Solicitors Regulation Authority (SRA) should investigate whether there are regulatory barriers to law firms that become alternative business structures (ABSs) providing other professional services such as accountancy and surveying, rather than vice versa, a report it commissioned has recommended.’
Legal Futures, 10th May 2018
Source: www.legalfutures.co.uk
‘Accountants, bankers and lawyers will face penalties if they fail to report aggressive tax avoidance schemes that help companies or individuals move money to offshore havens, under a new European Union law.’
The Guardian, 13th March 2018
Source: www.theguardian.com
‘The Institute of Chartered Accountants in England and Wales (ICAEW) has launched judicial review proceedings against the Ministry of Justice (MoJ) over the decision to deny its members the right to conduct litigation, advocacy and legal instruments work, Legal Futures can reveal.’
Legal Futures, 6th March 2018
Source: www.legalfutures.co.uk
‘A forensic accountant has a number of functions. If they are the single joint expert (SJE) in the context of divorce proceedings, their job is usually going to be to value one or more of the parties’ business assets.’
Family Law, 13th December 2017
Source: www.familylaw.co.uk
‘The UK’s accounting watchdog is hoping to make it easier to prosecute accountants after it was slammed for letting KPMG off the hook over its audits of HBOS just before the financial crisis.’
Daily Telegraph, 30th November 2017
Source: www.telegraph.co.uk
‘In Higgins and others v (1) ERC Accountants and Business Advisers Ltd and (2) Granite Tax Ltd [2017] EWHC 2190 (Ch) His Honour Judge Pelling QC, sitting as a judge of the High Court, dealt with various applications relating to service of claim forms.’
Zenith PI Blog, 25th September 2017
Source: zenithpi.wordpress.com
‘New UK regulations have been published that significantly extend the duty to report financial sanctions breaches. Previously only banks, financial institutions, certain EEA credit institutions, and currency exchange businesses were obliged to report, but the duty now applies to a far broader range of professions and sectors.’
OUT-LAW.com, 14th August 2017
Source: www.out-law.com
‘Partners at a leading personal injury law firm have lost a professional negligence action against the accountants who recommended they sign up to two ultimately unsuccessful tax mitigation schemes.’
Legal Futures, 5th June 2017
Source: www.legalfutures.co.uk
‘The Supreme Court has now ruled on the tricky “no loss” arguments raised in this accountant’s negligence claim, reversing the decision of the lower courts. Nicola Rushton of Hailsham’s professional negligence team considers the implications.’
Full story (PDF)
Hailsham Chambers, 13th April 2017
Source: www.hailshamchambers.com
‘The Lord Chief Justice has outlined his “strong opposition” to a bid to allow accountants to handle tax litigation and advocacy work – and in return come under fire from the body that would regulate them.’
Legal Futures, 21st February 2017
Source: www.legalfutures.co.uk
‘A former judge and his law firm assistant have been jailed for six years each after siphoning off almost £700,000 from clients to hide debts, pay for holidays in Barbados and bet on races at Cheltenham.’
The Guardian, 27th January 2017
Source: www.guardian.co.uk
‘PricewaterhouseCoopers has been fined £2.3m by the accountancy watchdog over its auditing of the subprime lender Cattles and its biggest division, Welcome Financial Services, in 2007.’
The Guardian, 31st August 2016
Source: www.guardian.co.uk
‘Government proposals to clamp down on tax avoidance by targeting advisers with sanctions if HMRC successfully challenges a scheme further blur the line between evasion and avoidance, and “threaten the rule of law”, according to a prominent tax lawyer.’
Legal Futures, 18th August 2016
Source: www.legalfutures.co.uk
‘Accountants, tax planners and advisers who provide advice on how to avoid tax will face tough penalties under new proposals being consulted on by the government, Financial Secretary to the Treasury Jane Ellison announced today.’
HM Revenue and Customs, 17th August 2016
Source: https://www.gov.uk/government/organisations/hm-revenue-customs
‘Accountants, lawyers and consultants whose multibillion pound industry provides advice on how to aggressively avoid tax could face large financial penalties under government proposals.’
The Guardian, 17th August 2016
Source: www.guardian.co.uk
‘A 20-day time limit within which claims for breaches of warranty as part of a share purchase agreement (SPA) had to be raised only began running once the buyer was aware of the “proper basis for a claim”, the Court of Appeal has ruled.’
OUT-LAW.com, 29th March 2016
Source: www.out-law.com
‘Audit and accountancy firms who devise tax-avoidance schemes ruled unlawful have never faced official reprimand, The Independent can reveal. None of the so-called “Big Four” firms – PricewaterhouseCoopers (PwC), KPMG, Deloitte & Touche and Ernst & Young – has ever faced regulatory investigation for such schemes. Court rulings condemning unlawful avoidance schemes are regularly overlooked by regulators.’
The Independent, 18th January 2016
Source: www.independent.co.uk
‘In a claim resulting from negligent advice the damages were not to be reduced to reflect a repayment to the claimant of debt made pursuant to a refinancing where such transaction, while arising because of the relevant breach of duty, did not arise in the ordinary course of business.’
WLR Daily, 25th June 2015
Source: www.iclr.co.uk
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