Regulator unveils major overhaul to its audit supervision March 25, 2026 The Financial Reporting Council (FRC) is introducing a major overhaul of its audit supervisory model, aiming to replace the current system with one designed to enhance audit quality. The accountancy watchdog is moving its primary focus to a system of quality management (SoQM), placing firm-wide quality controls at the heart of its new supervisory activity. [...]
AI will not replace auditors’ judgment, says regulator chief March 19, 2026 The rise of AI presents a critical moment for the accountancy profession to prove that its “value-add” goes beyond tasks that can be automated, according to the industry’s watchdog boss. Speaking to Morning Wire, Richard Moriarty, chief executive of the Financial Reporting Council (FRC), said that with every technological shift, the accountancy sector loses low-level [...]
Morning Wire Awards 2026: Meet the Finalists March 18, 2026 And the nominees are…. Personality of the Year Greg Jackson CBE The entrepreneur and CEO of Octopus Energy has become one of the UK’s most prominent business leaders, known for his straight talking and punchy views across a range of topics including UK entrepreneurship, the business environment, capital markets and, of course, energy. In August [...]
Brits fleeing Dubai could trigger ‘surprise’ UK tax bills March 16, 2026 British expats returning to the UK from the Middle East over safety concerns as a result of the war in Iran could face “hidden tax costs”. The British expat population in the UAE is among the largest outside the UK, with estimates of 130,000 to 240,000 British nationals living and working in Dubai and Abu [...]
War in Iran sparks professional services remote work boom in Gulf March 5, 2026 Professional service giants have triggered emergency business continuity plans, shifting hundreds of staff to remote work across the UAE, Qatar, and Saudi Arabia amid deepening conflict in the Middle East. Since Donald Trump and Benjamin Netanyahu’s surprise attack on Tehran in the early hours of Saturday morning, Iran has retaliated with strikes on major cities [...]
Accountancy firms lag behind legal firms in gender equality at top level March 3, 2026 The UK accountancy sector is lagging in diversifying its leadership, with only half of firms having at least one woman at the board or partnership level. According to data exclusively shared with Morning Wire by Lubbock Fine, UK accountancy firms are lagging behind legal firms in the proportion of women at the senior level. The [...]
Accountancy firms face margin squeeze as AI disrupts compliance services February 25, 2026 Most UK accountancy firms admit margins on traditional compliance services are under pressure from automation, as professional services firms rethink strategies in the age of AI. According to a report shared exclusively with Morning Wire by Ravical, while most British firms believe margins have increased over the last three years, the majority (63 per cent) [...]
Professional services firms facing ‘polycrisis of confidence’ January 28, 2026 A major study of C-suite attitudes among professional services firms has revealed a complicated landscape of increasing AI use, growth fears, worries about cash flow and concerns over staff motivation. According to the Managing Partners Forum Winter 2025 Quarterly, shared exclusively with Morning Wire, all firms surveyed have integrated Gen AI into their daily operations, but [...]
Bill Thomas’ successor: KPMG top job up for grabs amidst sector transformation January 27, 2026 The Big Four giant KPMG’s election for the next global chair and CEO is currently underway, as big names across the firm vie to succeed Bill Thomas. Thomas has held the leadership position since October 2017, but his term is expected to conclude on 30 September. KPMG International is now launching a process to elect [...]
Labour scraps Audit Reform Bill to ‘avoid’ costs on firms January 20, 2026 The Audit Reform and Corporate Governance Bill, added into Labour’s first King Speech, is now being scrapped to “avoid significant new costs to firms”. The reform was first raised in 2018 following the collapse of Carillon, but has been on and off the table ever since. The Bill was shelved by the previous government in November 2023 [...]