9am Lowdown: ONS, FRC and KPMG survey

Valme Claro
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Good morning, and welcome to the last Lowdown of the week.

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According to the FRC’s annual review, KPMG, Deloitte and Grant Thornton are lagging behind other accountancy firms in terms of audit quality. (Financial Times)

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The ONS will stop government officials’ early access to key economic data to reinforce public trust and end the suspicion of leaks. (The Telegraph)

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Operational and reputational risks are the biggest threats for UK CEOs, according to a survey by KPMG. (The Actuary)

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According to the top adviser to the European Court of Justice, the card game bridge is a sport and should be exempt from VAT. (BBC)

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Millennials (those born between 1982 and 2000) will need a £1m pension pot to retire completely, according to research conducted by the accountancy firm Mazars. (The Business Desk)

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Booz Allen Hamilton, one of the largest consulting firms in the world, has said its accounting practices are under investigation for possible irregularities in the way it charges the U.S. government for services and accounts for costs. (Reuters)

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On AccountingWEB

In the news: Rebecca Cave on the future of tax simplification.

On the blogs: Trent McLaren offers three tips for creating client-winning thought leadership events.

Any Answers:  Community member All asks for advice on how to reduce the number of clients leaving after an initial consultation.

Industry updates: The majority of UK accountants think that automation will transform the accountancy profession within the next five years.


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