UK competition authorities to be given ‘more powers’ – OUT-LAW.com

Posted May 23rd, 2016 in auditors, bills, competition, consultations, EC law, enforcement, news by sally

‘Competition authorities in the UK are to be given new powers to combat anti-competitive behaviour, according to plans set out in the Queen’s Speech on Wednesday.’

Full story

OUT-LAW.com, 19th May 2016

Source: www.out-law.com

New forensic science service planned – BBC News

‘A new forensic and biometrics service is planned by the Home Office, four years after it controversially abolished its predecessor.’

Full story

BBC News, 12th March 2016

Source: www.bbc.co.uk

‘Big Four’ audit firms never examined over illegal tax plans – The Independent

Posted January 18th, 2016 in accountants, auditors, financial regulation, news, tax avoidance by tracey

‘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.’

Full story

The Independent, 18th January 2016

Source: www.independent.co.uk

Collapse of Olympus fraud case fuels calls for UK law reforms – The Independent

Posted November 11th, 2015 in accounts, auditors, fraud, news, prosecutions, whistleblowers by sally

‘Legal experts have called for an overhaul of UK corporate laws to hold companies to account after the Serious Fraud Office (SFO) dropped its prosecution of Japanese optical giant Olympus Corporation.’

Full story

The Independent, 11th November 2015

Source: www.independent.co.uk

Quarter of billion in court fines written off – Daily Telegraph

Posted April 28th, 2014 in auditors, compensation, costs, courts, delay, enforcement, fines, news, victims by sally

‘Millions of pounds in fines and victim compensation cancelled because offenders can no longer be traced.’

Full story

Daily Telegraph, 26th April 2014

Source: www.telegraph.co.uk

Mid-Staffs scandal: Nursing and Midwifery Council criticised – BBC News

Posted March 31st, 2014 in auditors, disciplinary procedures, midwives, news, nurses, reports, standards by sally

‘The Nursing and Midwifery Council is facing more criticism over its handling of disciplinary cases in a report by the Professional Standards Authority.’

Full story

BBC News, 31st March 2014

Source: www.bbc.co.uk

G4S may still face criminal proceedings over tagging scandal – justice secretary – The Guardian

‘G4S, the troubled giant private security company, still faces the possibility of criminal proceedings over its alleged overcharging of at least £24m on electronic tagging and prisoner escort contracts, the justice secretary, Chris Grayling, has said. His reminder comes as G4S makes a concerted attempt to have the current ban on bidding for fresh government contracts lifted.’

Full story

The Guardian, 11th March 2014

Source: www.guardian.co.uk

Local Audit and Accountability Act 2014

Posted January 31st, 2014 in auditors, health, legislation, local government by sally

Local Audit and Accountability Act 2014 published

Full text of Act

Source: www.legislation.gov.uk

Confiscation orders take only 26p in every £100 from criminals, NAO finds – The Guardian

‘Confiscation orders designed to ensure crime does not pay provide neither value for money nor a credible deterrent as perpetrators keep all but 26p in every £100 generated by the criminal economy, according to a damning report.’

Full story

The Guardian, 17th December 2013

Source: www.guardian.co.uk

Watchdog warning over ‘unnecessary’ gagging clauses – BBC News

“The use of ‘gagging clauses’ risks stopping employees from speaking out about failures in the public sector, the National Audit Office has warned.”

Full story

BBC News, 8th October 2013

Source: www.bbc.co.uk

Council and watchdog in standoff over lawfulness of libel claim indemnity – Local Government Lawyer

Posted October 1st, 2013 in auditors, defamation, illegality, indemnities, local government, news by sally

“A local authority and a finance watchdog are at loggerheads over whether certain expenditure – including the grant of an indemnity to the chief executive to bring a libel counter-claim – was unlawful.”

Full story

Local Government Lawyer, 30th September 2013

Source: www.localgovernmentlawyer.co.uk

Competition Commission backs away from mandatory rotation in preliminary report on audit market – OUT-LAW.com

Posted July 25th, 2013 in auditors, competition, news, reports by tracey

“The Competition Commission (CC) has decided against forcing companies to rotate their statutory auditors regularly and has signalled that they should instead put their auditing needs out to tender at least every five years.”

Full story

OUT-LAW.com, 24th July 2013

Source: www.out-law.com

Competition Commission urges shakeup of accountancy market – The Guardian

Posted July 22nd, 2013 in accountants, auditors, competition, news by sally

“Britain’s largest companies should put their accounting business up for tender every five years, the Competition Commission has said, as part of an investigation into the dominance of the big four accountancy groups.”

Full story

The Guardian, 22nd July 2013

Source: www.guardian.co.uk

Plans to give ICO power to conduct compulsory data protection audits in NHS unveiled – OUT-LAW.com

Posted March 27th, 2013 in auditors, data protection, hospitals, medical records, news by tracey

“Public health bodies in the UK could be compelled to open themselves up to a
data protection audit by the Information Commissioner’s Office (ICO) under new
plans outlined by the Government.”

Full story

OUT-LAW.com, 26th March 2013

Source: www.out-law.com

Competition Commission raps Big Four accountants – BBC News

Posted February 22nd, 2013 in auditors, banking, competition, inquiries, news, reports, shareholders by sally

“Britain’s four biggest accountancy firms have been heavily criticised by the Competition Commission.”

Full story

BBC News, 22nd February 2013

Source: www.bbc.co.uk

National Audit Office warns UK needs more cyber skills – BBC News

Posted February 12th, 2013 in auditors, computer crime, fraud, news, police by tracey

“A lack of skilled workers is hampering the UK’s fight against cyber crime, the
National Audit Office (NAO) has warned.”

Full story

BBC News, 12th February 2013

Source: www.bbc.co.uk

Plan to cut spending on court interpreters leads to farce – The Independent

Posted May 21st, 2012 in auditors, budgets, courts, interpreters, news, solicitors by sally

“A defendant dubbed a ‘pervert’ by mistake, a rabbit applying to be a Czech language specialist and solicitors using the Google Translate website to understand their clients: the debacle surrounding court interpreters has had its amusing moments.”

Full story

The Independent, 21st May 2012

Source: www.independent.co.uk

MPs publish “damning indictment” of alleged HMRC deals with big businesses – OUT-LAW.com

Posted December 21st, 2011 in auditors, HM Revenue & Customs, news, taxation by tracey

“There are ‘specific and systemic’ failures in the way in which HM Revenue and Customs (HMRC) handles tax disputes with big companies which must be addressed, an influential committee of MPs has said.”

Full story

OUT-LAW.com, 20th December 2011

Source: www.out-law.com

Judge to examine Goldman Sachs tax deal – The Independent

Posted November 22nd, 2011 in auditors, inquiries, news, tax avoidance, taxation by sally

“A senior judge is to be brought in to investigate a series of highly controversial tax deals which cost the Exchequer millions of pounds in lost revenue.”

Full story

The Independent, 22nd November 2011

Source: www.independent.co.uk

House of Lords report attacks ‘complacency’ of Big Four auditors in financial crisis, urges competition investigation – Daily Telegraph

Posted March 31st, 2011 in auditors, competition, financial regulation, news, reports by sally

“The House of Lords has recommended that Britain’s competition authorities investigate the world’s ‘Big Four’ auditing firms who failed to warn regulators about banks before the financial crash.”

Full story

Daily Telegraph 30th March 2011

Source: www.telegraph.co.uk