Britain’s accounting watchdog has slammed major firms over substandard audits, with a quarter judged to be below the acceptable standard.
Economists at KPMG have slashed their expectations for the UK’s economic growth and warned of a slowdown due to Brexit uncertainty and global headwinds.
Retail sales in Scotland dropped last month in what have been described as “somewhat bruising figures”.
Shoppers shunned the high street and kept their wallets closed last month, leading to sales plunging in May faster than at any time in the last 24 years, new data shows.
KPMG has announced plans to restructure its auditing arm but fell short of separating it from the wider company despite pressure from watchdogs and MPs.
Almost 100 people have been made redundant after an IT firm called in administrators.
KPMG has been fined £5 million and will face regular scrutiny by the accountancy watchdog as part of sanctions handed down over its audit of the Co-operative Bank in 2009.
KPMG has been hit with a £6 million fine and been “severely reprimanded” by the accountancy watchdog over the way it audited an insurance company.
More than 50 jobs have been saved after Aberdeen-headquartered Aiken Group was bought out of administration in a pre-pack deal.
A north-east oil service firm has folded before its latest incarnation could get up and running.
Carluccio’s has been given approval for a restructuring programme that could see it close dozens of restaurants, putting 500 jobs in doubt.
Fears that the North-east economy will suffer a huge blow due to a major rail development have been disputed by a UK Government minister.
A footwear shop in Aberdeen is among a raft of closures after part of the chain was bought out of administration.