KPMG to review TfL’s finances & more…Keep up with the latest accountancy news in our weekly round-up…

Auditor change: GE dumps KPMG for Deloitte

General Electric dealt the Big Four audit market a significant shakeup as it announced the appointment of Deloitte as its new independent auditor for fiscal year 2021.

EY and PwC face investigation over mini-bond audits

The UK’s accounting watchdog has launched three investigations into the audits of scandal-embroiled London Capital & Finance.

Deloitte cuts 7,000+ jobs in US, Australia and India

Deloitte could be set to offload more than 10,000 of its global staff in the wake of the coronavirus crisis.

KPMG to review TfL’s finances after £1.6bn government bailout

The government is sending in City accountants to scrutinise Transport for London’s finances and business plan, as part of its controversial £1.6bn emergency funding agreement for the capital.

EY reports €1.9bn ‘missing’ at Germany’s Wirecard

German payments company Wirecard has been forced to delay publication of its annual results again, after auditor EY said it could not confirm the existence of cash balances totalling €1.9bn (£1.7bn).

BDO sued for £250m over ‘light-touch’ administration

A £250m insolvency negligence, thought to be he largest of its kind, began this week against BDO in the UK’s High Court.

PwC facial recognition tool criticised for home working privacy invasion

Accounting giant PwC has come under fire for the development of a facial recognition tool that logs when employees are absent from their computer screens while they work from home.