Keep up to date with the latest finance and accountancy news in our weekly round-up…

‘Despairing’ businesses triggering no-deal Brexit plans, says CBI

The Confederation of British Industry has said that businesses are in ‘despair’ over Brexit and have already diverted hundreds of millions of pounds in investment out of the UK.

Brexit: No-deal will near-bankrupt UK, says Branson

Richard Branson has told the BBC he was “absolutely certain” that leaving the EU without a deal would lead to the closure of “quite a few British businesses”.

Big four auditors face market share cap after CMA probe

The UK’s big four auditors will next week face an unprecedented move to limit their market share following a two-month market study. However, it will stop short of demanding a full-break-up of the dominant quartet; Deloitte, EY, KPMG and PwC.

World stocks tumble on weak economic data from China and Europe

Stocks worldwide tumbled on Friday after weak economic data fanned concerns of a global economic slowdown.

Accounting watchdog criticised over stance on sexual harassment

Britain’s accounting watchdog has been criticised for failing to focus on sexual harassment. Politicians, academics and former Big Four employees have said that the FRC needed to do more to stamp out sexual misconduct and bullying in the industry.