Watchdog probes KPMG over Wood Group audit Business The audit watchdog has opened an investigation into Big Four giant KPMG and two accountants over the accounts belonging to engineering and consulting firm John Wood Group. The Financial Reporting Council (FRC) revealed on Thursday that it officially launched two separate regulatory investigations concerning the financial reporting and statutory auditing of the former London-listed group. [...]
PwC thought leadership reports ‘100 per cent AI generated’ Big Four The Big Four giant PwC has been found to have published four ‘thought leadership’ reports that show a pattern of irresponsible AI usage, including hallucinated citations and fabricated claims. A probe by GPTZero, a company that makes AI detection software, focused on four reports published between 2024 and 2026 by PwC Middle East and found [...]
Big Four’s AIM exodus accelerates as mid-tier firms seize mandates Big Four Mid-tier audit firms scooped up new clients as the Big Four giants executed an intentional retreat from London’s junior market. Three years ago, PwC, Deloitte, EY, and KPMG audited nearly half of the FTSE Alternative Investment Market (AIM) 100 index with 49 clients combined. But today, the market share has collapsed to 30 clients, according [...]
Mark Kleinman: Well runs dry for Thames Water creditors July 23, 2026 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his Morning Wire column Well runs dry for Thames Water creditors Are Thames Water’s taps about to run dry? Not literally, of course – but Andy Burnham’s arrival in Downing Street has fired the starting gun on a creditor sprint to [...]
Revealed: KPMG and Deloitte offer bumper redundancy packages to slash headcount July 17, 2026 KPMG and Deloitte are offering UK staff bumper redundancy packages as they look to slash their headcount and trim costs, Morning Wire can reveal. The two accountancy companies, as well as PwC, have all ramped up their payouts to employees after a slowdown in the sector’s traditional ‘attrition model’, in which around 15-20 per cent [...]
AI is driving a VC investment boom July 15, 2026 The UK has landed some of the biggest megadeals in history, but it must double down on tech investment to keep its crown, says Nicole Lowe The UK is currently riding on the crest of a wave of near-record-breaking levels of venture capital investment and I’m delighted that it shows no sign of coming to [...]
Exclusive: PwC set to cut audit jobs amid market slowdown July 9, 2026 PwC is set to slash its headcount in its UK audit division, the latest in a series of redundancies at Big Four accountancy giants. Morning Wire understands that those affected are senior associates and managers in the audit practice. It is understood this is due to low staff attrition in the firm’s audit practice, a [...]
Exclusive: Big Four giant KPMG to cut more jobs July 9, 2026 Big Four giant KPMG is set to lay off around 10 per cent of staff in its UK group corporate services division, Morning Wire understands. The division, which includes HR, corporate affairs, marketing, tech, and procurement, is understood to be cutting around 200 people. A KPMG UK spokesperson told Morning Wire: “As we continue to [...]
EY grad sacked down under for allegedly accessing PM’s bank account June 30, 2026 A junior employee at Big Four accounting giant EY Australia has been sacked over allegations he and another man accessed prime minister Anthony Albanese’s personal bank account. Both men faced court on Tuesday over the breach which, according to the Australian federal police, took place when the EY graduate was on secondment at the Commonwealth [...]
City firms send workers home as heatwave melts London June 24, 2026 City firms have told their workers to stay away from the office this week as London is hit with a record June heatwave. Several multinational companies headquartered in the Square Mile have advised their employees to consider remote work in a bid to dodge the sweltering heat. Banking giant JP Morgan Chase is the biggest [...]