PwC to take over from KPMG as M&G’s external auditor & more…Keep up with the latest business and accountancy news in our weekly round-up…

EY facing $4bn lawsuit over NMC Health audit work

Big Four accountancy firm EY is facing a $4bn lawsuit from the administrators of fraud-hit healthcare business NMC Health.

Deloitte kicks off talks with bidders for UK restructuring unit

Deloitte is kicking off talks with potential buyers of its British restructuring business amid expectations of a surge in activity triggered by swathes of coronavirus-inspired insolvencies.

KPMG to sell restructuring arm to win more work

Audit giant KPMG is to sell its restructuring arm because conflicts of interest and regulatory scrutiny are preventing it from winning work.

German regulators slammed over Wirecard failures

Germany’s supervisory system for financial reporting has been heavily criticised for its failures in handling problems at Wirecard, the German fintech which become embroiled in an accounting scandal and went into administration owing €3.5bn.

PwC to take over from KPMG as M&G’s external auditor

Investment management firm M&G has appointed PwC as its external auditor for the year ending 31 December 2022.

Deloitte Legal announces ‘milestone’ acquisition of London firm

Deloitte Legal today established itself as flag carrier of the Big Four accountants’ march in to legal services by announcing the acquisition of London technology and digital media specialist Kemp Little.