Coronavirus: UK worst hit among major economies & more…Keep up with what has been happening this week in our latest accountancy news round-up…

PwC pledges to review fraud detection after Wirecard scandal shakes industry

The global chairman of PwC has pledged to “aggressively” review how the firm can better hunt for frauds following Wirecard and other accounting scandals.

CEOs speed up digital push and downsize offices, KPMG survey shows

Companies around the world have moved more of their operations online, plan to reduce office space and have made recruiting and retaining staff their top priority since the coronavirus pandemic struck, a survey showed on Tuesday.

PwC grows global revenue to $43bn despite coronavirus pandemic hit

Big Four firm PwC said its global revenue grew 3% to $43bn in 2019-20, despite the impact of the coronavirus pandemic.

KPMG to make £16 million in fees from administering collapsed shopping centres giant Intu

KPMG said its fees for the work would be £16 million as it disentangles the business ,which has had different owners of the various parts. KPMG said they expected unsecured creditors would get a dividend but could not give any indication of how much.

PwC UK delays annual results to take in cost of Covid-19

PwC UK will delay publishing its annual results until next year as it assesses the impact of the pandemic on pay and bonuses for its staff and partners.

PwC sued for £63m over Quindell deal ‘conspiracy’

PwC is being sued for £63m over accusations the Big Four accountancy firm conspired against a former client by releasing private financial information about the client to rival during a takeover approach.

Grant Thornton faces appeal on fraud and negligence lawsuit

Grant Thornton LLP is awaiting a ruling from an appeals court that’s expected to decide in the next few weeks on a case involving a manufacturing company owner who sued the firm for fraud, negligence and other claims.

Virus will spur a ‘tsunami of fraud’ in the UK, KPMG warns

The coronavirus is likely to trigger a tsunami of UK fraud cases when courts and law enforcement get back to full strength, accounting firm KPMG warned.

German regulator examines EY over Wirecard audits

The German auditing regulator is reportedly examining EY in connection with its involvement with the disgraced payment services firm Wirecard.