Accountancy

<!DOCTYPE html><html lang="en-GB" class="no-js core o-typography--loading-sans o-typography--loading-sans-bold o-typography--loading-display o-typography--loading-display-bold" data-o-component="o-typography" style="overflow-x:hidden;background-color:#fff1e5;color:#33302e"><head><meta charSet="utf-8"/><meta http-equiv="X-UA-Compatible" content="IE=edge"/><meta name="viewport" content="width=device-width, initial-scale=1"/><title>Accountancy</title><meta name="description" content="The latest news and updates from the accounting sector. Analysis on the world's leading accounting and consulting firms, including PwC, KPMG, Deloitte, EY and more."/><link rel="canonical" href="https://www.ft.com/accountancy"/><meta name="robots" content="index,follow,max-snippet:200,max-image-preview:large"/><meta name="google-site-verification" content="4-t8sFaPvpO5FH_Gnw1dkM28CQepjzo8UjjAkdDflTw"/><script type="application/ld+json">{"@context":"http://schema.org","@type":"WebSite","name":"Financial Times","alternateName":"FT.com","url":"http://www.ft.com"}</script><meta property="fb:pages" content="8860325749"/><meta property="twitter:site" content="@FinancialTimes"/><meta property="image:altText" content="Gareth Davies, head of the National Audit Office, standing inside the spending watchdog’s headquarters in Victoria, London, England"/><meta property="image:width" content="1976"/><meta property="image:url" content="https://d1e00ek4ebabms.cloudfront.net/production/da64c0ac-9b3c-4f65-bd5d-3b3e171e24ca.jpg"/><meta property="image:height" content="1112"/><meta property="metaSuffixText"/><meta property="standfirst" content="National Audit Office criticises ‘material and pervasive’ gaps in public sector audits"/><meta property="metaAltLink"/><meta property="relativeUrl" content="/content/3b561a45-6866-4372-98b6-ff55ae55d69a"/><meta property="type" content="article"/><meta property="indicators:isExclusive"/><meta property="indicators:accessLevel" content="subscribed"/><meta property="indicators:isOpinion"/><meta property="indicators:isEditorsChoice"/><meta property="indicators:isColumn"/><meta property="indicators:isScoop"/><meta property="title" content="UK spending watchdog refuses to sign off government accounts"/><meta property="url" content="https://www.ft.com/content/3b561a45-6866-4372-98b6-ff55ae55d69a"/><meta property="metaPrefixText"/><meta property="headshot"/><meta property="id" content="3b561a45-6866-4372-98b6-ff55ae55d69a"/><meta property="publishedDate" content="2024-11-26T11:30:06.001Z"/><meta property="firstPublishedDate" content="2024-11-26T11:30:06.001Z"/><meta property="metaLink:predicate" content="http://www.ft.com/ontology/hasDisplayTag"/><meta property="metaLink:prefLabel" content="UK local government finance"/><meta property="metaLink:isDisplayTag"/><meta property="metaLink:id" content="9fc5ea6e-a91a-492e-a0c0-8e957545dab7"/><meta property="metaLink:type" content="TOPIC"/><meta property="metaLink:relativeUrl" content="/uk-local-government-finance"/><meta property="metaLink:url" content="https://www.ft.com/uk-local-government-finance"/><meta property="parentTheme"/><meta property="altStandfirst"/><meta property="openGraph:twitter:card" content="summary_large_image"/><meta property="openGraph:og:title" content="UK spending watchdog refuses to sign off government accounts"/><meta property="openGraph:og:description"/><meta property="openGraph:og:image" content="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__assets%2Fcreatives%2Fopen-graph%2Fft-v1.jpg?source=next-opengraph&fit=scale-down&width=900"/><meta property="openGraph:og:url" content="https://www.ft.com/content/3b561a45-6866-4372-98b6-ff55ae55d69a"/><meta property="openGraph:og:type" content="article"/><meta property="openGraph:article:published_time" content="2024-11-26T11:30:06.001Z"/><meta property="openGraph:article:modified_time" content="2024-11-26T11:30:06.001Z"/><meta name="apple-itunes-app" content="app-id=1200842933, app-argument=https://www.ft.com/accountancy"/><link rel="icon" type="image/svg+xml" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&format=svg"/><link rel="alternate icon" type="image/png" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&format=png&width=32&height=32" sizes="32x32"/><link rel="alternate icon" type="image/png" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&format=png&width=194&height=194" sizes="194x194"/><link rel="apple-touch-icon" href="https://www.ft.com/__origami/service/image/v2/images/raw/ftlogo-v1%3Abrand-ft-logo-square-coloured?source=update-logos&format=png&width=180&height=180" sizes="180x180"/><link rel="manifest" href="https://www.ft.com/__assets/creatives/manifest/manifest-v6.json"/><link rel="alternate" type="application/rss+xml" href="https://www.ft.com/accountancy?format=rss"/><script> !function(e,n,t,i,o,r){function c(e){if("number"!=typeof e)return e;var n=new Date;return new Date(n.getTime()+1e3*e)}var a=4e3,s="xnpe_async_hide";function p(e){return e.reduce((function(e,n){return e[n]=function(){e._.push([n.toString(),arguments])},e}),{_:[]})}function m(e,n,t){var i=t.createElement(n);i.src=e;var o=t.getElementsByTagName(n)[0];return o.parentNode.insertBefore(i,o),i}function u(e){return"[object Date]"===Object.prototype.toString.call(e)}r.target=r.target,r.file_path=r.file_path||r.target+"/js/exponea.min.js",o[n]=p(["anonymize","initialize","identify","update","track","trackLink","trackEnhancedEcommerce","getHtml","showHtml","showBanner","showWebLayer","ping","getAbTest","loadDependency","getRecommendation","reloadWebLayers"]),o[n].notifications=p(["isAvailable","isSubscribed","subscribe","unsubscribe"]),o[n]["snippetVersion"]="v2.3.0",function(e,n,t){e[n]["_"+t]={},e[n]["_"+t].nowFn=Date.now,e[n]["_"+t].snippetStartTime=e[n]["_"+t].nowFn()}(o,n,"performance"),function(e,n,t,i,o,r){e[o]={sdk:e[i],sdkObjectName:i,skipExperiments:!!t.new_experiments,sign:t.token+"/"+(r.exec(n.cookie)||["","new"])[1],path:t.target}}(o,e,r,n,i,RegExp("__exponea_etc__"+"=([\w-]+)")),function(e,n,t){m(e.file_path,n,t)}(r,t,e),function(e,n,t,i,o,r,p){if(e.new_experiments){!0===e.new_experiments&&(e.new_experiments={});var f,l=e.new_experiments.hide_class||s,_=e.new_experiments.timeout||a,d=encodeURIComponent(r.location.href.split("#")[0]);e.cookies&&e.cookies.expires&&("number"==typeof e.cookies.expires||u(e.cookies.expires)?f=c(e.cookies.expires):e.cookies.expires.tracking&&("number"==typeof e.cookies.expires.tracking||u(e.cookies.expires.tracking))&&(f=c(e.cookies.expires.tracking))),f&&f<new Date&&(f=void 0);var x=e.target+"/webxp/"+n+"/"+r[t].sign+"/modifications.min.js?http-referer="+d+"&timeout="+_+"ms"+(f?"&cookie-expires="+Math.floor(f.getTime()/1e3):"");"sync"===e.new_experiments.mode&&r.localStorage.getItem("__exponea__sync_modifications__")?function(e,n,t,i,o){t[o][n]="<"+n+' src="'+e+'"></'+n+">",i.writeln(t[o][n]),i.writeln("<"+n+">!"+o+".init && document.writeln("+o+"."+n+'.replace("/'+n+'/", "/'+n+'-async/").replace("><", " async><"))</'+n+">")}(x,n,r,p,t):function(e,n,t,i,o,r,c,a){r.documentElement.classList.add(e);var s=m(t,i,r);function p(){o[a].init||m(t.replace("/"+i+"/","/"+i+"-async/"),i,r)}function u(){r.documentElement.classList.remove(e)}s.onload=p,s.onerror=p,o.setTimeout(u,n),o[c]._revealPage=u}(l,_,x,n,r,p,o,t)}}(r,t,i,0,n,o,e),function(e,n,t){e[n].start=function(i){i&&Object.keys(i).forEach((function(e){return t[e]=i[e]})),e[n].initialize(t)}}(o,n,r)}(document,"exponea","script","webxpClient",window,{ target: 'https://bloomreach.ft.com', token: 'd6e5bd4c-9228-11eb-a414-9a67e462410e', }); </script><link rel="preconnect" href="https://spoor-api.ft.com"/><link rel="preconnect" href="https://session-next.ft.com" crossorigin="use-credentials"/><link rel="preconnect" href="https://ads-api.ft.com"/><link rel="preconnect" href="https://securepubads.g.doubleclick.net"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/webpack-runtime.e95fdf411b11.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/page-kit-components.8bb60777e746.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-myft-ui.2f6eba7a4de4.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tracking.0f18b62fd99e.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-syndication.91c0ae6f7c03.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/shared.stable.2bd3a12fc5b2.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-header.af838ca85c81.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-viewport.2f3b3befc0ad.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-notification.ffae2cfafe36.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-grid.f74f171098cc.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-utils.98fc7b2c5c0b.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/next-session-client.6ee6c033ca44.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-footer.80a1922ff25b.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-overlay.103801e3ac89.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-toggle.02e52d783748.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tooltip.a461cbc5ea89.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-tracking.ab9a050d6406.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-date.89299101937d.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-lazy-load.2b733fdd8c1d.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-o-typography.e23e1f1503bb.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/privacy-components.66551fa7de4f.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/superstore.efa85c8c265d.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-n-exponea.f35a414f7044.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/js-cookie.d73a14959b97.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/financial-times-x-engine.ab24e1752fd8.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/preact.249a2d8e27a9.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://www.ft.com/__assets/hashed/page-kit/scripts.2aefa1ace9c1.bundle.js" type="application/javascript"/><link rel="preload" as="script" href="https://consent-notice.ft.com/cmp.js" type="application/javascript"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&font_name=MetricWeb-Regular&system_code=origami&version=1.12" type="font/woff2" crossorigin="anonymous"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&font_name=MetricWeb-Semibold&system_code=origami&version=1.12" type="font/woff2" crossorigin="anonymous"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&font_name=FinancierDisplayWeb-Regular&system_code=origami&version=1.12" type="font/woff2" crossorigin="anonymous"/><link rel="preload" as="font" href="https://www.ft.com/__origami/service/build/v3/font?font_format=woff2&font_name=FinancierDisplayWeb-Bold&system_code=origami&version=1.12" type="font/woff2" crossorigin="anonymous"/><script id="initial-props" type="application/json"></script><link rel="stylesheet" href="https://www.ft.com/__assets/hashed/page-kit/vendors~page-kit-layout-styles.e3540d819ef5.css"/><link rel="stylesheet" href="https://www.ft.com/__assets/hashed/page-kit/styles.9021600140ca.css"/><script type="application/json" id="page-kit-bootstrap-config">{"trackErrors":true,"core":[],"enhanced":["https://www.ft.com/__assets/hashed/page-kit/webpack-runtime.e95fdf411b11.bundle.js","https://www.ft.com/__assets/hashed/page-kit/page-kit-components.8bb60777e746.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-myft-ui.2f6eba7a4de4.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tracking.0f18b62fd99e.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-syndication.91c0ae6f7c03.bundle.js","https://www.ft.com/__assets/hashed/page-kit/shared.stable.2bd3a12fc5b2.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-header.af838ca85c81.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-viewport.2f3b3befc0ad.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-notification.ffae2cfafe36.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-grid.f74f171098cc.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-utils.98fc7b2c5c0b.bundle.js","https://www.ft.com/__assets/hashed/page-kit/next-session-client.6ee6c033ca44.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-footer.80a1922ff25b.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-overlay.103801e3ac89.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-toggle.02e52d783748.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-tooltip.a461cbc5ea89.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-tracking.ab9a050d6406.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-date.89299101937d.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-lazy-load.2b733fdd8c1d.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-o-typography.e23e1f1503bb.bundle.js","https://www.ft.com/__assets/hashed/page-kit/privacy-components.66551fa7de4f.bundle.js","https://www.ft.com/__assets/hashed/page-kit/superstore.efa85c8c265d.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-n-exponea.f35a414f7044.bundle.js","https://www.ft.com/__assets/hashed/page-kit/js-cookie.d73a14959b97.bundle.js","https://www.ft.com/__assets/hashed/page-kit/financial-times-x-engine.ab24e1752fd8.bundle.js","https://www.ft.com/__assets/hashed/page-kit/preact.249a2d8e27a9.bundle.js","https://www.ft.com/__assets/hashed/page-kit/scripts.2aefa1ace9c1.bundle.js","https://consent-notice.ft.com/cmp.js"]}</script><script>;(function () { var doc = document.documentElement var isEnhanced = isEnhancedBrowser() var scriptsConfig = getScriptsConfig() var scriptsToLoad = [] var currentScript = document.scripts[document.scripts.length - 1] doc.className = doc.className.replace('no-js', 'js') if (isEnhanced) { doc.className = doc.className.replace('core', 'enhanced') Array.prototype.push.apply(scriptsToLoad, scriptsConfig.enhanced) } else { Array.prototype.push.apply(scriptsToLoad, scriptsConfig.core) } for (var i = 0, len = scriptsToLoad.length; i < len; i++) { loadScript(scriptsToLoad[i]) } function scriptLoadError(error) { var script = error.target ? error.target.src : null if (script) { console.error('The script ' + script + ' failed to load') // eslint-disable-line no-console } if (/enhanced/.test(doc.className)) { console.warn('Script loading failed, reverting to core experience') // eslint-disable-line no-console doc.className = doc.className.replace('enhanced', 'core') } if (scriptsConfig.trackErrors) { addErrorTrackingPixel(script) } } function loadScript(src) { var script = document.createElement('script') script.onerror = scriptLoadError script.async = false script.src = src currentScript.parentNode.insertBefore(script, currentScript) } // "Cut the mustard" test // by Maggie Allen and Matt Hinchliffe November 2018 function isEnhancedBrowser() { var script = document.createElement('script') var input = document.createElement('input') return ( 'visibilityState' in document && // not supported by old Android (4.0-4.4) without a prefix 'indeterminate' in input && // not supported by BB 10 'flex' in doc.style && // not supported by old Safari (< 9) or IE 6-10 'async' in script // not supported by old Opera (Presto engine < 15) ) } function getScriptsConfig() { var scriptsConfigEl = document.getElementById('page-kit-bootstrap-config') var scriptsConfig = { core: [], enhanced: [], trackErrors: false } if (scriptsConfigEl) { try { scriptsConfig = JSON.parse(scriptsConfigEl.innerHTML) } catch (error) { console.error('Bootstrap configuration error', error) // eslint-disable-line no-console } } return scriptsConfig } function addErrorTrackingPixel(script) { var img = new Image() var data = JSON.stringify({ category: 'javascript', action: 'load-error', system: { source: 'page-kit' }, context: { script: script } }) img.src = 'https://spoor-api.ft.com/px.gif?data=' + encodeURIComponent(data) } })() </script><script>(function(w,d,s,l){ w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'}); var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:''; j.async=true; j.src='https://www.ft.com/page-resources/'+dl; f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer');</script><script>(function loadCustomFonts() { var rootElement = document.documentElement; if (/(^|\s)o-typography-fonts-loaded=1(;|$)/.test(document.cookie)) { var fontLabels = ['sans', 'sans-bold', 'display', 'display-bold']; for (var i = 0; i < fontLabels.length; i++) { rootElement.className = rootElement.className.replace('o-typography--loading-' + fontLabels[i], ''); } } }());</script></head><body><noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-NWQJW68" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript><div class="n-layout"><a data-trackable="a11y-skip-to-help" class="n-layout__skip-link" href="https://www.ft.com/accessibility">Accessibility help</a><a data-trackable="a11y-skip-to-navigation" class="n-layout__skip-link" href="#site-navigation">Skip to navigation</a><a data-trackable="a11y-skip-to-content" class="n-layout__skip-link" href="#site-content">Skip to content</a><a data-trackable="a11y-skip-to-footer" class="n-layout__skip-link" href="#site-footer">Skip to footer</a><div class="n-layout__row n-layout__row--header"><div class="n-layout__header-before"><div id="n-exponea-bottom-slot"></div><div class="o-ads o-ads--center o-ads--background o-ads--transition o-ads--reserve-90 above-header-advert" data-o-ads-init="true" data-o-ads-name="leaderboard" data-o-ads-targeting="pos=top" data-o-ads-formats="MediumRectangle" data-o-ads-formats-medium="Leaderboard,FullBleedResponsive,Responsive,OneByOne" data-o-ads-formats-large="SuperLeaderboard,Leaderboard,FullBleedResponsive,Responsive,OneByOne" data-o-ads-formats-extra="Billboard,SuperLeaderboard,Leaderboard,FullBleedResponsive,Responsive,OneByOne"></div></div><header id="site-navigation" class="o-header o-header--simple" data-o-component="o-header" data-o-header--no-js="true" tabindex="-1"><div class="o-header__row o-header__anon" data-trackable="header-anon"><ul class="o-header__anon-list"><li class="o-header__anon-item"><a class="o-header__anon-link" href="/login?location=/accountancy" data-trackable="Sign In">Sign In</a></li><li class="o-header__anon-item"><a class="o-header__anon-link" href="/products?segmentId=f860e6c2-18af-ab30-cd5e-6e3a456f9265" data-trackable="Subscribe">Subscribe</a></li></ul></div><div class="o-header__row o-header__top" data-trackable="header-top"><div class="o-header__container"><div class="o-header__top-wrapper"><div class="o-header__top-column o-header__top-column--left"><a href="#o-header-drawer" class="o-header__top-icon-link o-header__top-icon-link--menu" aria-controls="o-header-drawer" title="Open side navigation menu" data-trackable="drawer-toggle"><span class="o-header__top-link-label">Open side navigation menu</span></a><a href="#o-header-search-primary" class="o-header__top-icon-link o-header__top-icon-link--search" aria-controls="o-header-search-primary" title="Open search bar" data-trackable="search-toggle"><span class="o-header__top-link-label">Open search bar</span></a></div><div class="o-header__top-column o-header__top-column--center"><a class="o-header__top-logo" style="background-image:none" data-trackable="logo" href="/" title="Go to Financial Times homepage"><svg viewBox="0 0 1054 86"><title>Financial Times</title><path d="M26.177 72.609c0 5.938 1.697 7.295 12.554 7.295v3.732H.9v-3.732c7.464 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.546-7.126-10.01-7.126V1.357h63.448l.34 22.563h-3.054C59.937 6.956 55.696 5.43 39.919 5.43H26.008v33.59h11.196c10.688 0 11.367-1.697 12.215-10.179h3.054v24.599h-3.054c-.848-8.482-1.527-10.01-12.215-10.01H26.008v29.18h.17zm46.314 11.027v-3.732c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.287V5.09c-7.465 0-10.01.679-10.01 7.126v60.564c0 6.446 2.545 7.125 10.01 7.125v3.732H72.49zm115.36 1.357l-56.323-69.725V72.44c0 6.617 4.58 7.634 12.385 7.634v3.733h-29.858v-3.733c7.803 0 12.045-1.017 12.045-7.634V8.991c-3.563-3.732-6.108-3.902-12.045-3.902V1.357h26.465l43.09 55.475V12.554c0-6.616-4.58-7.634-12.384-7.634V1.357h30.027V5.09c-7.803 0-12.045 1.018-12.045 7.635v72.27h-1.357zm40.207-1.357h-29.689v-3.732c7.804 0 11.367-1.018 13.911-7.804L239.085.509h7.464l28.84 72.1c2.545 6.447 3.732 7.125 9.67 7.125v3.732h-34.438v-3.732c10.518 0 11.536-.848 8.99-7.125l-8.481-21.884h-25.787L217.71 71.93c-2.375 6.447 1.357 7.804 10.518 7.804v3.902h-.17zm-1.188-37.153h22.393l-11.705-29.518-10.688 29.518zm135.548 38.51l-56.153-69.725V72.44c0 6.617 4.58 7.634 12.384 7.634v3.733h-29.18v-3.733c7.126 0 11.367-1.017 11.367-7.634V9.161c-4.071-3.732-7.125-4.072-13.91-4.072V1.357h28.16l43.09 55.475V12.554c0-6.616-4.58-7.634-12.383-7.634V1.357h29.858V5.09c-7.804 0-12.045 1.018-12.045 7.635v72.27h-1.188zm83.297-83.805h2.036l1.187 24.598-3.053.17c-2.036-14.08-9.5-21.545-23.242-21.545-15.268 0-26.804 13.063-26.804 33.081 0 25.617 16.116 40.206 33.08 40.206 7.296 0 13.912-2.035 20.358-8.99l2.376 2.374c-5.26 7.465-15.608 13.742-29.52 13.742-20.696 0-41.732-15.608-41.732-41.734C380.4 17.813 399.57 0 422.813 0c11.027 0 16.795 4.75 19.848 4.75 1.357 0 2.375-1.187 3.054-3.562zm12.723 82.448v-3.732c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.287V5.09c-7.464 0-10.01.679-10.01 7.126v60.564c0 6.446 2.546 7.125 10.01 7.125v3.732h-35.287zm68.538 0h-27.653v-3.732c6.108 0 9.331-1.018 11.876-7.804L538.003.509h7.464l28.84 72.1c2.545 6.447 3.733 7.125 9.67 7.125v3.732H549.54v-3.732c10.518 0 11.536-.848 8.991-7.125l-8.482-21.884h-25.786l-7.635 21.205c-2.375 6.447 1.358 7.804 10.519 7.804v3.902h-.17zm-1.188-37.153h22.394l-11.536-29.518-10.858 29.518zm63.957 37.153v-3.732c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.117V5.09c-7.464 0-9.84.679-9.84 7.126v61.073c0 5.428 2.715 6.107 7.126 6.107h4.241c15.947 0 21.036-2.375 25.447-20.527l3.054.339-2.545 24.26h-62.6v.17zM760.75 1.357l.339 23.92h-3.054C756.34 7.634 752.098 5.43 736.32 5.43h-5.089v67.18c0 6.447 2.375 7.295 12.554 7.295v3.732h-40.376v-3.732c10.179 0 12.723-1.018 12.723-7.295V5.429h-5.089c-15.777 0-20.018 2.205-21.715 19.848h-3.053l.339-23.92h74.136zm7.973 82.28v-3.733c7.465 0 10.01-.679 10.01-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h35.287V5.09c-7.465 0-10.01.679-10.01 7.126v60.564c0 6.446 2.545 7.125 10.01 7.125v3.732h-35.287zM910.21 1.356V5.09c-7.465 0-10.688.34-10.01 6.956l6.447 61.073c.679 6.277 3.054 6.955 10.518 6.955v3.733h-35.117v-3.733c7.295 0 9.84-.678 9.331-6.955L884.762 8.99l-25.956 76.172h-1.018L832.34 8.822l-6.108 64.126c-.678 6.447 3.733 7.125 11.197 7.125v3.733h-27.483v-3.733c7.465 0 10.01-1.187 10.518-7.125l6.447-61.073c.679-6.446-2.545-6.955-10.01-6.955V1.357h28.84l17.305 56.153 18.661-56.153h28.5zm65.653 52.082h-3.053c-.849-8.482-1.527-10.01-12.215-10.01H948.04v29.859c0 5.428 2.715 6.107 7.125 6.107h6.786c15.947 0 21.036-2.375 25.447-20.527l3.054.339-2.884 24.26h-64.805v-3.733c7.464 0 10.009-.678 10.009-7.125V12.215c0-6.447-2.545-7.126-10.01-7.126V1.357h62.261l.34 20.527h-3.054c-1.866-14.59-5.598-16.286-21.885-16.286H948.21v33.42h12.554c10.687 0 11.366-1.696 12.214-10.178h3.054v24.599h-.17zm65.484 13.232c0-7.464-4.75-11.196-12.893-15.777l-13.063-6.786c-9.84-5.259-15.607-11.027-15.607-21.375C999.783 9.84 1010.81 0 1025.23 0c9.84 0 14.929 4.75 17.813 4.75 1.866 0 2.714-1.187 3.562-3.562h2.375l1.188 23.072-3.054.17c-1.696-11.198-9.67-19.85-20.866-19.85-8.483 0-14.081 5.09-14.081 12.215 0 7.804 5.937 11.027 12.554 14.59l11.196 5.937c10.519 5.768 17.983 11.536 17.983 22.563 0 14.59-12.554 24.939-28.161 24.939-11.028 0-16.456-5.26-19.34-5.26-1.866 0-2.884 1.697-3.732 4.242h-2.376l-1.696-24.43 3.054-.339c2.375 15.268 12.893 21.545 23.411 21.545 8.822-.17 16.286-4.071 16.286-13.91z" fill="#231F20" fill-rule="evenodd"></path></svg></a></div><div class="o-header__top-column o-header__top-column--right"><a class="o-header__top-button o-header__top-button--hide-m" role="button" href="/products?segmentId=f860e6c2-18af-ab30-cd5e-6e3a456f9265" data-trackable="Subscribe">Subscribe</a><a class="o-header__top-myaccount" id="o-header-top-link-signin" href="/login?location=/accountancy" data-trackable="Sign In"><span>Sign In</span></a></div></div></div></div><div id="o-header-search-primary" class="o-header__row o-header__search o-header__search--primary" data-trackable="header-search" data-o-header-search="true"><div class="o-header__container"><form class="o-header__search-form" action="/search" role="search" aria-label="Site search" data-n-topic-search="true"><label for="o-header-search-term-primary" class="o-header__search-term o-forms-field o-forms-field--optional"><span class="o-forms-title o-header__visually-hidden"><span class="o-forms-title__main">Search the <abbr title="Financial Times">FT</abbr></span></span><span class="o-forms-input o-forms-input--text o-forms-input--suffix"><input type="search" id="o-header-search-term-primary" name="q" autoComplete="off" autoCorrect="off" autoCapitalize="off" spellcheck="false" placeholder="Search for stories, topics or securities" role="combobox" aria-controls="suggestions-o-header-search-term-primary"/><button class="o-header__search-submit" type="submit"><span aria-hidden="true" class="o-header__search-icon"></span><span>Search</span></button><button class="o-header__search-close o--if-js" type="button" aria-controls="o-header-search-primary" title="Close search bar" data-trackable="close"><span class="o-header__visually-hidden">Close search bar</span><span>Close</span></button></span></label></form></div></div><nav id="o-header-nav-desktop" class="o-header__row o-header__nav o-header__nav--desktop" role="navigation" aria-label="Primary navigation" data-trackable="header-nav:desktop"><div class="o-header__container"><ul class="o-header__nav-list o-header__nav-list--left" data-trackable="primary-nav"><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/" id="o-header-link-0" data-trackable="Home">Home</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/world" id="o-header-link-1" data-trackable="World">World</a><div class="o-header__mega" id="o-header-mega-1" role="group" aria-labelledby="o-header-link-1" data-o-header-mega="true" data-trackable="meganav | World"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/world" data-trackable="link">World Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/middle-east-war" data-trackable="link">Middle East war</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/global-economy" data-trackable="link">Global Economy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/world-uk" data-trackable="link">UK</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us" data-trackable="link">US</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/china" data-trackable="link">China</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/africa" data-trackable="link">Africa</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/asia-pacific" data-trackable="link">Asia Pacific</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/emerging-markets" data-trackable="link">Emerging Markets</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/europe" data-trackable="link">Europe</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/war-in-ukraine" data-trackable="link">War in Ukraine</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/americas" data-trackable="link">Americas</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/middle-east-north-africa" data-trackable="link">Middle East & North Africa</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/641446ed-71b1-42f6-a9d8-3bc4d7b7da23" data-trackable="link">China’s defence minister placed under investigation for corruption</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/543ec79d-38f2-4470-8e9f-c75274c177eb" data-trackable="link">‘It has been bumpy’: Starmer reckons with plunging approval ratings </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6110671d-143b-40fd-a63d-c500964b6b9d" data-trackable="link">Ceasefire begins in Israel-Lebanon war</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/3694f5cf-8ad4-4d60-9ebf-f039456a74be" data-trackable="link">‘Adios Adani!’ Bribery charges threaten group’s Africa ambitions</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/94bd9433-908a-437e-a9bc-a74349f4feb7" data-trackable="link">Mexico’s new president digs in with radical ideas as Trump threat looms</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/us" id="o-header-link-2" data-trackable="US">US</a><div class="o-header__mega" id="o-header-mega-2" role="group" aria-labelledby="o-header-link-2" data-o-header-mega="true" data-trackable="meganav | US"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us" data-trackable="link">US Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-economy" data-trackable="link">US Economy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/investing-in-america" data-trackable="link">Investing in America</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-companies" data-trackable="link">US Companies</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-politics-policy" data-trackable="link">US Politics & Policy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/us-presidential-election-2024" data-trackable="link">US Presidential Election 2024</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/641446ed-71b1-42f6-a9d8-3bc4d7b7da23" data-trackable="link">China’s defence minister placed under investigation for corruption</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/48dc3c6d-77ac-4d3d-96fa-744e74bec903" data-trackable="link">Donald Trump taps Jamieson Greer for US trade representative </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6e893618-d75e-4e67-9876-249540a27d13" data-trackable="link">AI stocks: what if this time it really is different?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/b6b0e373-a77a-44d8-b8a2-e85af62ba7bd" data-trackable="link">Where Trump could surprise on the upside</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/f294334a-b075-4a92-9b37-3442b8faa0b7" data-trackable="link">US trade tariffs would pose risk to economic growth, top BoE official warns </a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/companies" id="o-header-link-3" data-trackable="Companies">Companies</a><div class="o-header__mega" id="o-header-mega-3" role="group" aria-labelledby="o-header-link-3" data-o-header-mega="true" data-trackable="meganav | Companies"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/companies" data-trackable="link">Companies Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/energy" data-trackable="link">Energy</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/financials" data-trackable="link">Financials</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/health" data-trackable="link">Health</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/industrials" data-trackable="link">Industrials</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/media" data-trackable="link">Media</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/professional-services" data-trackable="link">Professional Services</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/retail-consumer" data-trackable="link">Retail & Consumer</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/technology-sector" data-trackable="link">Tech Sector</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/telecoms" data-trackable="link">Telecoms</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/transport" data-trackable="link">Transport</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5c9ca1f6-b6fe-4c96-84e2-38e3eee90f3b" data-trackable="link">Elon Musk’s Twitter backers gain windfall from xAI deal</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/3694f5cf-8ad4-4d60-9ebf-f039456a74be" data-trackable="link">‘Adios Adani!’ Bribery charges threaten group’s Africa ambitions</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/51d82ac8-c2ee-4df9-acc4-876e5b34297b" data-trackable="link">LVMH’s Bernard Arnault summoned to court in trial of France’s former spy chief</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/c1dd7f62-95a4-42cb-92ca-7a5d1ece6716" data-trackable="link">Infosys chair bets companies will develop their own AI models</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/9da0429b-ab3d-42b0-81de-80659c393f03" data-trackable="link">Waste less, earn more: a new market for food byproducts</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/technology" id="o-header-link-4" data-trackable="Tech">Tech</a><div class="o-header__mega" id="o-header-mega-4" role="group" aria-labelledby="o-header-link-4" data-o-header-mega="true" data-trackable="meganav | Tech"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/technology" data-trackable="link">Tech Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/artificial-intelligence" data-trackable="link">Artificial intelligence</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/semiconductors" data-trackable="link">Semiconductors</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/cyber-security" data-trackable="link">Cyber Security</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/social-media" data-trackable="link">Social Media</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5c9ca1f6-b6fe-4c96-84e2-38e3eee90f3b" data-trackable="link">Elon Musk’s Twitter backers gain windfall from xAI deal</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/c1dd7f62-95a4-42cb-92ca-7a5d1ece6716" data-trackable="link">Infosys chair bets companies will develop their own AI models</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6e893618-d75e-4e67-9876-249540a27d13" data-trackable="link">AI stocks: what if this time it really is different?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/5281eff4-711b-49ac-8227-634dbeed757b" data-trackable="link">OpenAI’s text-to-video AI tool Sora leaked in protest by artists</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/1a2a9b25-a7f1-4ce0-b537-e67b3853e5ad" data-trackable="link">SoftBank to boost OpenAI stake with up to $1.5bn investment </a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/markets" id="o-header-link-5" data-trackable="Markets">Markets</a><div class="o-header__mega" id="o-header-mega-5" role="group" aria-labelledby="o-header-link-5" data-o-header-mega="true" data-trackable="meganav | Markets"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/markets" data-trackable="link">Markets Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/alphaville" data-trackable="link">Alphaville</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://markets.ft.com/data" data-trackable="link">Markets Data</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/crypto" data-trackable="link">Crypto</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/capital-markets" data-trackable="link">Capital Markets</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/commodities" data-trackable="link">Commodities</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/currencies" data-trackable="link">Currencies</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/equities" data-trackable="link">Equities</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/ft-wealth-management" data-trackable="link">Wealth Management</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/moral-money" data-trackable="link">Moral Money</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://etf.ft.com" data-trackable="link">ETF Hub</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/fund-management" data-trackable="link">Fund Management</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/ft-trading-room" data-trackable="link">Trading</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/4029debe-1c8a-406a-86d9-deff6d6b5713" data-trackable="link">China’s market targets are ‘just psychological’, says former regulator</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6e893618-d75e-4e67-9876-249540a27d13" data-trackable="link">AI stocks: what if this time it really is different?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/a897109d-8af2-480b-9138-4d8592078f2f" data-trackable="link">Five things the market got wrong about China’s stimulus package</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/e7e9b561-4dca-42fc-a8c5-01541f57c391" data-trackable="link">Senior UK bankers to receive bonuses faster under new rules</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6189fdb4-d1ef-4e0b-a7f1-e7f9a7286df5" data-trackable="link">Rouble slides as new Russian sanctions stifle foreign trade</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/climate-capital" id="o-header-link-6" data-trackable="Climate">Climate</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/opinion" id="o-header-link-7" data-trackable="Opinion">Opinion</a><div class="o-header__mega" id="o-header-mega-7" role="group" aria-labelledby="o-header-link-7" data-o-header-mega="true" data-trackable="meganav | Opinion"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/opinion" data-trackable="link">Opinion Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/columnists" data-trackable="link">Columnists</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/ft-view" data-trackable="link">The FT View</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/the-big-read" data-trackable="link">The Big Read</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/lex" data-trackable="link">Lex</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/obituaries" data-trackable="link">Obituaries</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/letters" data-trackable="link">Letters</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/9da0429b-ab3d-42b0-81de-80659c393f03" data-trackable="link">Waste less, earn more: a new market for food byproducts</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/6e893618-d75e-4e67-9876-249540a27d13" data-trackable="link">AI stocks: what if this time it really is different?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/241ab719-5a47-4076-8531-5d8b16da6b37" data-trackable="link">On assisted dying, are we really any good at predicting survival?</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/b6b0e373-a77a-44d8-b8a2-e85af62ba7bd" data-trackable="link">Where Trump could surprise on the upside</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/a0cfcf55-6b4d-4aeb-a3ec-b3db33575047" data-trackable="link">Climate change is a global problem — it requires a global solution</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/lex" id="o-header-link-8" data-trackable="Lex">Lex</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/work-careers" id="o-header-link-9" data-trackable="Work & Careers">Work & Careers</a><div class="o-header__mega" id="o-header-mega-9" role="group" aria-labelledby="o-header-link-9" data-o-header-mega="true" data-trackable="meganav | Work & Careers"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/work-careers" data-trackable="link">Work & Careers Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://rankings.ft.com/business-education" data-trackable="link">Business School Rankings</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/business-education" data-trackable="link">Business Education</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="https://rankings.ft.com/incubator-accelerator-programmes-europe" data-trackable="link">Europe's Start-Up Hubs</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/entrepreneurship" data-trackable="link">Entrepreneurship</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/recruitment" data-trackable="link">Recruitment</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/business-books" data-trackable="link">Business Books</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/business-travel" data-trackable="link">Business Travel</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/working-it" data-trackable="link">Working It</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/e7e9b561-4dca-42fc-a8c5-01541f57c391" data-trackable="link">Senior UK bankers to receive bonuses faster under new rules</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/f5732fa2-4876-4595-b5e8-96d3cd6ef50f" data-trackable="link">Citigroup slashes promotions as it seeks to overhaul bank </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/00dd2236-0e03-4b0f-a3f7-8afbc8471b47" data-trackable="link">How a single capital market would unlock Europe’s potential</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/516ceed9-a3ca-4349-b72b-30ebc2a30be6" data-trackable="link">It’s better to be on the Trump train than lying down in front of it </a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/8ec36eab-f45d-4958-a0d6-b4b0db21bec1" data-trackable="link">Ex-execs go back to university</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/life-arts" id="o-header-link-10" data-trackable="Life & Arts">Life & Arts</a><div class="o-header__mega" id="o-header-mega-10" role="group" aria-labelledby="o-header-link-10" data-o-header-mega="true" data-trackable="meganav | Life & Arts"><div class="o-header__container"><div class="o-header__mega-wrapper"><div class="o-header__mega-column o-header__mega-column--subsections" data-trackable="sections"><div class="o-header__mega-heading">Sections</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/life-arts" data-trackable="link">Life & Arts Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/arts" data-trackable="link">Arts</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/books" data-trackable="link">Books</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/food-drink" data-trackable="link">Food & Drink</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/magazine" data-trackable="link">FT Magazine</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/house-home" data-trackable="link">House & Home</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/style" data-trackable="link">Style</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/travel" data-trackable="link">Travel</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/globetrotter" data-trackable="link">FT Globetrotter</a></li></ul></div></div><div class="o-header__mega-column o-header__mega-column--articles" data-trackable="popular"><div class="o-header__mega-heading">Most Read</div><div class="o-header__mega-content"><ul class="o-header__mega-list"><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/13e4c4e4-8ff6-4a02-896d-66bcb1f2d257" data-trackable="link">A ‘hoodies and hiking boots’ crowd fires up Madeira’s property market</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/f78f65c2-5041-477b-8fc6-99f72f2f75b8" data-trackable="link">That Librarian by Amanda Jones — on the frontline of US culture wars</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/16c6a571-cc92-4d40-a7e2-5df187e1addc" data-trackable="link">Senna — racing bio-drama brings tyre-burning thrills to Netflix</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/128429fb-fdb8-4610-9b0d-7182a09c529f" data-trackable="link">Universal Music caught in rap feud between Drake and Kendrick Lamar</a></li><li class="o-header__mega-item"><a class="o-header__mega-link" href="/content/daf9da5e-3d76-4e02-bf81-3c68d39c0498" data-trackable="link">It’s bananas to regard art as an investment</a></li></ul></div></div></div></div></div></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/htsi" id="o-header-link-11" data-trackable="HTSI">HTSI</a></li></ul></div></nav></header><header class="o-header o-header--simple o-header--sticky o--if-js" data-o-component="o-header" data-o-header--sticky="true" aria-hidden="true"><div class="o-header__row o-header__top" data-trackable="header-sticky"><div class="o-header__container"><div class="o-header__top-wrapper"><div class="o-header__top-column o-header__top-column--left"><a href="#" class="o-header__top-icon-link o-header__top-icon-link--menu" aria-controls="o-header-drawer" data-trackable="drawer-toggle" tabindex="-1"><span class="o-header__top-link-label">Menu</span></a><a href="#" class="o-header__top-icon-link o-header__top-icon-link--search" aria-controls="o-header-search-sticky" data-trackable="search-toggle" tabindex="-1"><span class="o-header__top-link-label">Search</span></a></div><div class="o-header__top-column o-header__top-column--center"><div class="o-header__top-takeover"><div class="o-header__nav"><ul class="o-header__nav-list o-header__nav-list--left" data-trackable="primary-nav"><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/" data-trackable="Home" tabindex="-1">Home</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/world" data-trackable="World" tabindex="-1">World</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/us" data-trackable="US" tabindex="-1">US</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/companies" data-trackable="Companies" tabindex="-1">Companies</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/technology" data-trackable="Tech" tabindex="-1">Tech</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/markets" data-trackable="Markets" tabindex="-1">Markets</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/climate-capital" data-trackable="Climate" tabindex="-1">Climate</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/opinion" data-trackable="Opinion" tabindex="-1">Opinion</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/lex" data-trackable="Lex" tabindex="-1">Lex</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/work-careers" data-trackable="Work & Careers" tabindex="-1">Work & Careers</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/life-arts" data-trackable="Life & Arts" tabindex="-1">Life & Arts</a></li><li class="o-header__nav-item"><a class="o-header__nav-link o-header__nav-link--primary" href="/htsi" data-trackable="HTSI" tabindex="-1">HTSI</a></li></ul></div></div><a class="o-header__top-logo o-header__hide--L" data-trackable="logo" href="/" title="Go to Financial Times homepage" tabindex="-1"><span class="o-header__visually-hidden">Financial Times</span></a></div><div class="o-header__top-column o-header__top-column--right"><a class="o-header__top-button o-header__top-button--hide-m" role="button" href="/products?segmentId=f860e6c2-18af-ab30-cd5e-6e3a456f9265" data-trackable="Subscribe" tabindex="-1">Subscribe</a><a class="o-header__top-myaccount" id="o-header-top-link-signin" href="/login?location=/accountancy" data-trackable="Sign In"><span>Sign In</span></a></div></div></div></div><div id="o-header-search-sticky" class="o-header__row o-header__search o-header__search--sticky" data-trackable="header-search" data-o-header-search="true"><div class="o-header__container"><form class="o-header__search-form" action="/search" role="search" aria-label="Site search" data-n-topic-search="true"><label for="o-header-search-term-sticky" class="o-header__search-term o-forms-field o-forms-field--optional"><span class="o-forms-title o-header__visually-hidden"><span class="o-forms-title__main">Search the <abbr title="Financial Times">FT</abbr></span></span><span class="o-forms-input o-forms-input--text o-forms-input--suffix"><input type="search" id="o-header-search-term-sticky" name="q" autoComplete="off" autoCorrect="off" autoCapitalize="off" spellcheck="false" placeholder="Search for stories, topics or securities" role="combobox" aria-controls="suggestions-o-header-search-term-sticky"/><button class="o-header__search-submit" type="submit"><span aria-hidden="true" class="o-header__search-icon"></span><span>Search</span></button><button class="o-header__search-close o--if-js" type="button" aria-controls="o-header-search-sticky" title="Close search bar" data-trackable="close"><span class="o-header__visually-hidden">Close search bar</span><span>Close</span></button></span></label></form></div></div></header></div><div class="n-layout__row n-layout__row--content"><div><div class="o-ads advert--mini-billboard" data-o-ads-name="miniBillboard" data-o-ads-targeting="pos=top" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="FullBleedResponsive, OneByOne" data-o-ads-formats-medium="OneByOne" data-o-ads-formats-large=false data-o-ads-formats-extra=false aria-hidden="true"> </div> <script type="application/json" id="stream-page-meta"> {"pageAttributes":{"hasIndustryRecommendations":true,"isPage":1}} </script> <div id="n-exponea-top-slot"></div> <div role="navigation" aria-label="category navigation" class="sub-header" data-trackable="sub-header" > <div class="o-grid-container"> <div class="o-grid-row"> <div class="sub-header__section sub-header__section--title " data-o-grid-colspan="12 M8 XL9" > <h1 class="sub-header__page-title"> Accountancy </h1> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="3cf32c5c-0134-4755-8a53-6f029205be89" action="/myft/add/3cf32c5c-0134-4755-8a53-6f029205be89" data-js-action="/__myft/api/core/followed/concept/3cf32c5c-0134-4755-8a53-6f029205be89?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following Accountancy." data-unpressed-text="No longer following Accountancy." ></div> <button aria-pressed="false" aria-label="Add to myFT: Accountancy" title="Add Accountancy to myFT" data-alternate-label="Added Accountancy to myFT: click to remove" data-alternate-text="Added" class=" n-myft-follow-button" data-concept-id="3cf32c5c-0134-4755-8a53-6f029205be89" data-trackable="follow" type="submit">Add to myFT</button> </form> </div> </div> </div> </div> <div role="main" id="site-content" data-concept-id="3cf32c5c-0134-4755-8a53-6f029205be89"> <div class="o-grid-container"> <div class="o-grid-row"> <div class="js-track-scroll-event" id="stream" data-o-grid-colspan="12 L8" > <div data-trackable="stream" class="o-teaser-collection o-teaser-collection--stream"> <ul class="o-teaser-collection__list js-stream-list" data-stream-list aria-busy="false"> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-26T11:30:06.001Z">Tuesday, 26 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="3b561a45-6866-4372-98b6-ff55ae55d69a" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="3b561a45-6866-4372-98b6-ff55ae55d69a"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/uk-local-government-finance" aria-label="Category: UK local government finance">UK local government finance</a></div><div class="o-teaser__heading"><a href="/content/3b561a45-6866-4372-98b6-ff55ae55d69a" data-trackable="heading-link" class="js-teaser-heading-link">UK spending watchdog refuses to sign off government accounts</a></div><p class="o-teaser__standfirst"><a href="/content/3b561a45-6866-4372-98b6-ff55ae55d69a" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">National Audit Office criticises ‘material and pervasive’ gaps in public sector audits</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="3b561a45-6866-4372-98b6-ff55ae55d69a" data-myft-ui="saved" action="/myft/save/3b561a45-6866-4372-98b6-ff55ae55d69a" data-js-action="/__myft/api/core/saved/content/3b561a45-6866-4372-98b6-ff55ae55d69a?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save UK spending watchdog refuses to sign off government accounts to myFT for later" aria-label="Save UK spending watchdog refuses to sign off government accounts to myFT for later" data-alternate-label="UK spending watchdog refuses to sign off government accounts is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="3b561a45-6866-4372-98b6-ff55ae55d69a" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/3b561a45-6866-4372-98b6-ff55ae55d69a" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2753%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fda64c0ac-9b3c-4f65-bd5d-3b3e171e24ca.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Gareth Davies, head of the National Audit Office, standing inside the spending watchdog’s headquarters in Victoria, London, England"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-25T14:46:43.512Z">Monday, 25 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="22400283-a2b9-4eb6-af34-afb4b3abfa16" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="22400283-a2b9-4eb6-af34-afb4b3abfa16"><div class="o-teaser__content"><div class="o-teaser__meta"></div><div class="o-teaser__heading"><a href="/content/22400283-a2b9-4eb6-af34-afb4b3abfa16" data-trackable="heading-link" class="js-teaser-heading-link">BDO bucks gloom with first pay rise for UK partners in three years</a></div><p class="o-teaser__standfirst"><a href="/content/22400283-a2b9-4eb6-af34-afb4b3abfa16" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Fifth-largest accounting firm hits £1bn in revenue despite market ‘uncertainty’ </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="22400283-a2b9-4eb6-af34-afb4b3abfa16" data-myft-ui="saved" action="/myft/save/22400283-a2b9-4eb6-af34-afb4b3abfa16" data-js-action="/__myft/api/core/saved/content/22400283-a2b9-4eb6-af34-afb4b3abfa16?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save BDO bucks gloom with first pay rise for UK partners in three years to myFT for later" aria-label="Save BDO bucks gloom with first pay rise for UK partners in three years to myFT for later" data-alternate-label="BDO bucks gloom with first pay rise for UK partners in three years is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="22400283-a2b9-4eb6-af34-afb4b3abfa16" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/22400283-a2b9-4eb6-af34-afb4b3abfa16" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F2cb237bd-2aab-4d6a-a873-deee3eaeca36.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-19T05:00:45.185Z">Tuesday, 19 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="26cf7b10-2d2a-4549-b103-e9183d461523" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="26cf7b10-2d2a-4549-b103-e9183d461523"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/the-big-read" aria-label="Category: The Big Read">The Big Read</a></div><div class="o-teaser__heading"><a href="/content/26cf7b10-2d2a-4549-b103-e9183d461523" data-trackable="heading-link" class="js-teaser-heading-link">The rehabilitation of KPMG in the UK</a></div><p class="o-teaser__standfirst"><a href="/content/26cf7b10-2d2a-4549-b103-e9183d461523" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The years of audit failings and regulatory fines at its UK business are over, but some worry the firm is still losing ground to rivals</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="26cf7b10-2d2a-4549-b103-e9183d461523" data-myft-ui="saved" action="/myft/save/26cf7b10-2d2a-4549-b103-e9183d461523" data-js-action="/__myft/api/core/saved/content/26cf7b10-2d2a-4549-b103-e9183d461523?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save The rehabilitation of KPMG in the UK to myFT for later" aria-label="Save The rehabilitation of KPMG in the UK to myFT for later" data-alternate-label="The rehabilitation of KPMG in the UK is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="26cf7b10-2d2a-4549-b103-e9183d461523" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/26cf7b10-2d2a-4549-b103-e9183d461523" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F5639c10b-bb72-4f16-b516-4351daa7bac1.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Jon Holt and KPMG’s logo"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-14T17:19:06.382Z">Thursday, 14 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="17e43214-fc7c-4c54-8419-c5244cac36e4" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="17e43214-fc7c-4c54-8419-c5244cac36e4"><div class="o-teaser__content"><div class="o-teaser__meta"></div><div class="o-teaser__heading"><a href="/content/17e43214-fc7c-4c54-8419-c5244cac36e4" data-trackable="heading-link" class="js-teaser-heading-link">Ex-BDO auditor banned for 20 years for faking signatures and documents</a></div><p class="o-teaser__standfirst"><a href="/content/17e43214-fc7c-4c54-8419-c5244cac36e4" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">UK watchdog said Amanda Nightingale had ‘acted with sustained dishonesty’ in her role as senior manager</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="17e43214-fc7c-4c54-8419-c5244cac36e4" data-myft-ui="saved" action="/myft/save/17e43214-fc7c-4c54-8419-c5244cac36e4" data-js-action="/__myft/api/core/saved/content/17e43214-fc7c-4c54-8419-c5244cac36e4?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Ex-BDO auditor banned for 20 years for faking signatures and documents to myFT for later" aria-label="Save Ex-BDO auditor banned for 20 years for faking signatures and documents to myFT for later" data-alternate-label="Ex-BDO auditor banned for 20 years for faking signatures and documents is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="17e43214-fc7c-4c54-8419-c5244cac36e4" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/17e43214-fc7c-4c54-8419-c5244cac36e4" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2472%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Facbbb8d4-38ea-4ca2-883e-9a6d1f62da22.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-04T10:30:01.140Z">Monday, 4 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="d3ffb257-4199-4cee-98a3-88ada2683c63" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="d3ffb257-4199-4cee-98a3-88ada2683c63"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Business Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stephen-foley" aria-label="Category: Stephen Foley">Stephen Foley</a></div><div class="o-teaser__heading"><a href="/content/d3ffb257-4199-4cee-98a3-88ada2683c63" data-trackable="heading-link" class="js-teaser-heading-link">Tensions erupt over US audit quality</a></div><p class="o-teaser__standfirst"><a href="/content/d3ffb257-4199-4cee-98a3-88ada2683c63" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Senators Elizabeth Warren and Sheldon Whitehouse publicly clash with accounting regulator Christina Ho</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="d3ffb257-4199-4cee-98a3-88ada2683c63" data-myft-ui="saved" action="/myft/save/d3ffb257-4199-4cee-98a3-88ada2683c63" data-js-action="/__myft/api/core/saved/content/d3ffb257-4199-4cee-98a3-88ada2683c63?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Tensions erupt over US audit quality to myFT for later" aria-label="Save Tensions erupt over US audit quality to myFT for later" data-alternate-label="Tensions erupt over US audit quality is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="d3ffb257-4199-4cee-98a3-88ada2683c63" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/d3ffb257-4199-4cee-98a3-88ada2683c63" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fabd9f548-910a-4602-9640-ba6c93dcbef3.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Elizabeth Warren raises her left hand as she makes a point during a speech"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=top;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-31T11:24:12.477Z">Thursday, 31 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1408e215-4c39-4534-b6ed-5ac6e0508175" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="1408e215-4c39-4534-b6ed-5ac6e0508175"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/corporate-governance" aria-label="Category: Corporate governance">Corporate governance</a></div><div class="o-teaser__heading"><a href="/content/1408e215-4c39-4534-b6ed-5ac6e0508175" data-trackable="heading-link" class="js-teaser-heading-link">Super Micr— oh no!</a></div><p class="o-teaser__standfirst"><a href="/content/1408e215-4c39-4534-b6ed-5ac6e0508175" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">EY says bye-bye</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1408e215-4c39-4534-b6ed-5ac6e0508175" data-myft-ui="saved" action="/myft/save/1408e215-4c39-4534-b6ed-5ac6e0508175" data-js-action="/__myft/api/core/saved/content/1408e215-4c39-4534-b6ed-5ac6e0508175?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Super Micr— oh no! to myFT for later" aria-label="Save Super Micr— oh no! to myFT for later" data-alternate-label="Super Micr— oh no! is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="1408e215-4c39-4534-b6ed-5ac6e0508175" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/1408e215-4c39-4534-b6ed-5ac6e0508175" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd68564d1-648d-4489-8e74-b8e05485375b.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-29T17:09:00.613Z">Tuesday, 29 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="10139750-92e1-492e-ace2-0db5bc6c1a84" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="10139750-92e1-492e-ace2-0db5bc6c1a84"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/5d5e5b94-f9fe-3167-9958-bd65635fbcdd" aria-label="Category: Latvia">Latvia</a></div><div class="o-teaser__heading"><a href="/content/10139750-92e1-492e-ace2-0db5bc6c1a84" data-trackable="heading-link" class="js-teaser-heading-link">Former bank boss in Latvia jailed for ordering killing of whistleblower</a></div><p class="o-teaser__standfirst"><a href="/content/10139750-92e1-492e-ace2-0db5bc6c1a84" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">LPB Bank owner Mihails Ulmans sentenced to 15 years over hit on lawyer who suspected money-laundering</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="10139750-92e1-492e-ace2-0db5bc6c1a84" data-myft-ui="saved" action="/myft/save/10139750-92e1-492e-ace2-0db5bc6c1a84" data-js-action="/__myft/api/core/saved/content/10139750-92e1-492e-ace2-0db5bc6c1a84?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Former bank boss in Latvia jailed for ordering killing of whistleblower to myFT for later" aria-label="Save Former bank boss in Latvia jailed for ordering killing of whistleblower to myFT for later" data-alternate-label="Former bank boss in Latvia jailed for ordering killing of whistleblower is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="10139750-92e1-492e-ace2-0db5bc6c1a84" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/10139750-92e1-492e-ace2-0db5bc6c1a84" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2014%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4eb753e2-b880-406b-a7f0-b03fee771ecd.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Businessman Mihails Ulmans is escorted into the court session in the Vidzeme suburb court of the city of Riga"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-25T11:23:37.632Z">Friday, 25 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="39095b58-5940-46f3-92e5-759a2923334d" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="39095b58-5940-46f3-92e5-759a2923334d"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ey" aria-label="Category: EY">EY</a></div><div class="o-teaser__heading"><a href="/content/39095b58-5940-46f3-92e5-759a2923334d" data-trackable="heading-link" class="js-teaser-heading-link">EY partner payouts in UK fall to £723,000 on average </a></div><p class="o-teaser__standfirst"><a href="/content/39095b58-5940-46f3-92e5-759a2923334d" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Big Four accounting firm hit by sharp slowdown in revenue growth and an increase in partnership size</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="39095b58-5940-46f3-92e5-759a2923334d" data-myft-ui="saved" action="/myft/save/39095b58-5940-46f3-92e5-759a2923334d" data-js-action="/__myft/api/core/saved/content/39095b58-5940-46f3-92e5-759a2923334d?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save EY partner payouts in UK fall to £723,000 on average to myFT for later" aria-label="Save EY partner payouts in UK fall to £723,000 on average to myFT for later" data-alternate-label="EY partner payouts in UK fall to £723,000 on average is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="39095b58-5940-46f3-92e5-759a2923334d" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/39095b58-5940-46f3-92e5-759a2923334d" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2357%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa9ae309c-0ced-4c31-be1a-fde2c3177bc1.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="EY’s offices in London"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-20T04:00:53.882Z">Sunday, 20 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="c5d22b8b-2d1a-4b33-95c6-6e673e215f68" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="c5d22b8b-2d1a-4b33-95c6-6e673e215f68"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/16467d92-aef7-43f1-a843-d3de1b94c59f" aria-label="Category: PwC">PwC</a></div><div class="o-teaser__heading"><a href="/content/c5d22b8b-2d1a-4b33-95c6-6e673e215f68" data-trackable="heading-link" class="js-teaser-heading-link">PwC offers ‘managing director’ title to retain staff who will not be partner</a></div><p class="o-teaser__standfirst"><a href="/content/c5d22b8b-2d1a-4b33-95c6-6e673e215f68" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Decision balances need to limit partner numbers with recruiting and retaining next level down</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="c5d22b8b-2d1a-4b33-95c6-6e673e215f68" data-myft-ui="saved" action="/myft/save/c5d22b8b-2d1a-4b33-95c6-6e673e215f68" data-js-action="/__myft/api/core/saved/content/c5d22b8b-2d1a-4b33-95c6-6e673e215f68?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save PwC offers ‘managing director’ title to retain staff who will not be partner to myFT for later" aria-label="Save PwC offers ‘managing director’ title to retain staff who will not be partner to myFT for later" data-alternate-label="PwC offers ‘managing director’ title to retain staff who will not be partner is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="c5d22b8b-2d1a-4b33-95c6-6e673e215f68" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/c5d22b8b-2d1a-4b33-95c6-6e673e215f68" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2827%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F24e492d2-11db-4818-bb46-a77c839cade7.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Outside view of PwC offices in London"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-teaser o-teaser--native-ad o-teaser--small o-teaser--stream-card" data-o-ads-name="PartnerContent--horizontal" data-o-ads-targeting="pos=native;format=horizontal" data-o-ads-formats="PartnerContent" data-o-ads-component="slot" ></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-18T15:21:23.530Z">Friday, 18 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">News in-depth</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/5fef406e-dc0b-4903-895d-fb82ec08b7ce" aria-label="Category: Sanjeev Gupta">Sanjeev Gupta</a></div><div class="o-teaser__heading"><a href="/content/ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9" data-trackable="heading-link" class="js-teaser-heading-link">The semi-retired book-keeper preparing Sanjeev Gupta’s accounts</a></div><p class="o-teaser__standfirst"><a href="/content/ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Metals magnate turns to septuagenarian accountant after struggling to appoint auditor</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9" data-myft-ui="saved" action="/myft/save/ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9" data-js-action="/__myft/api/core/saved/content/ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save The semi-retired book-keeper preparing Sanjeev Gupta’s accounts to myFT for later" aria-label="Save The semi-retired book-keeper preparing Sanjeev Gupta’s accounts to myFT for later" data-alternate-label="The semi-retired book-keeper preparing Sanjeev Gupta’s accounts is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/ce2b54db-8642-4af1-8eb1-8ea6e12d5ac9" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4240c821-e8d5-4d3b-83e8-be61f027427c.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="FT montage of Sanjeev Gupta and Ken Tointon, with a photo of a steelworks in the background"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-10T16:00:27.950Z">Thursday, 10 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="ed27787b-b3df-41cb-8065-35c84074c929" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="ed27787b-b3df-41cb-8065-35c84074c929"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-financial-regulation" aria-label="Category: US financial regulation">US financial regulation</a></div><div class="o-teaser__heading"><a href="/content/ed27787b-b3df-41cb-8065-35c84074c929" data-trackable="heading-link" class="js-teaser-heading-link">Warren criticises accounting watchdog over BDO audit failures</a></div><p class="o-teaser__standfirst"><a href="/content/ed27787b-b3df-41cb-8065-35c84074c929" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Senator says US regulator needs to take tougher line against ‘repeat offenders’</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ed27787b-b3df-41cb-8065-35c84074c929" data-myft-ui="saved" action="/myft/save/ed27787b-b3df-41cb-8065-35c84074c929" data-js-action="/__myft/api/core/saved/content/ed27787b-b3df-41cb-8065-35c84074c929?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Warren criticises accounting watchdog over BDO audit failures to myFT for later" aria-label="Save Warren criticises accounting watchdog over BDO audit failures to myFT for later" data-alternate-label="Warren criticises accounting watchdog over BDO audit failures is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="ed27787b-b3df-41cb-8065-35c84074c929" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/ed27787b-b3df-41cb-8065-35c84074c929" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd7f967c7-4c17-4c82-bff9-a53387001bba.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Elizabeth Warren"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=mid;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-09T04:00:13.396Z">Wednesday, 9 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="3f1db452-afaa-465e-beb0-666045f8e73e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="3f1db452-afaa-465e-beb0-666045f8e73e"><div class="o-teaser__content"><div class="o-teaser__meta"></div><div class="o-teaser__heading"><a href="/content/3f1db452-afaa-465e-beb0-666045f8e73e" data-trackable="heading-link" class="js-teaser-heading-link">KPMG US chief calls for urgent reform to halt slide in accounting ranks</a></div><p class="o-teaser__standfirst"><a href="/content/3f1db452-afaa-465e-beb0-666045f8e73e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Fewer US students are taking up accountancy, and 75% of CPAs are near retirement</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="3f1db452-afaa-465e-beb0-666045f8e73e" data-myft-ui="saved" action="/myft/save/3f1db452-afaa-465e-beb0-666045f8e73e" data-js-action="/__myft/api/core/saved/content/3f1db452-afaa-465e-beb0-666045f8e73e?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save KPMG US chief calls for urgent reform to halt slide in accounting ranks to myFT for later" aria-label="Save KPMG US chief calls for urgent reform to halt slide in accounting ranks to myFT for later" data-alternate-label="KPMG US chief calls for urgent reform to halt slide in accounting ranks is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="3f1db452-afaa-465e-beb0-666045f8e73e" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/3f1db452-afaa-465e-beb0-666045f8e73e" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fed8db575-4a27-4372-8f25-f748d3dd6562.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Paul Knopp stands smiling in front of the KPMG logo."/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-07T04:00:36.761Z">Monday, 7 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6f5d8eb6-acf8-486e-bc5c-d25d176ef72e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="6f5d8eb6-acf8-486e-bc5c-d25d176ef72e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ey" aria-label="Category: EY">EY</a></div><div class="o-teaser__heading"><a href="/content/6f5d8eb6-acf8-486e-bc5c-d25d176ef72e" data-trackable="heading-link" class="js-teaser-heading-link">EY to hold back some pay from US partners after tough year</a></div><p class="o-teaser__standfirst"><a href="/content/6f5d8eb6-acf8-486e-bc5c-d25d176ef72e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Big Four accounting firm tries to manage cash flow issues by deferring 2% of annual compensation</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6f5d8eb6-acf8-486e-bc5c-d25d176ef72e" data-myft-ui="saved" action="/myft/save/6f5d8eb6-acf8-486e-bc5c-d25d176ef72e" data-js-action="/__myft/api/core/saved/content/6f5d8eb6-acf8-486e-bc5c-d25d176ef72e?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save EY to hold back some pay from US partners after tough year to myFT for later" aria-label="Save EY to hold back some pay from US partners after tough year to myFT for later" data-alternate-label="EY to hold back some pay from US partners after tough year is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="6f5d8eb6-acf8-486e-bc5c-d25d176ef72e" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/6f5d8eb6-acf8-486e-bc5c-d25d176ef72e" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F1ba08c79-fdbe-4085-ad71-12f368c84bb0.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="EY managing partner Julie Boland"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-04T17:35:35.280Z">Friday, 4 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="ddbc0282-6aec-4bb5-bdb6-167564d3d532" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="ddbc0282-6aec-4bb5-bdb6-167564d3d532"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ey" aria-label="Category: EY">EY</a></div><div class="o-teaser__heading"><a href="/content/ddbc0282-6aec-4bb5-bdb6-167564d3d532" data-trackable="heading-link" class="js-teaser-heading-link">EY ‘failed to access key register’ at failed NMC, $2.7bn legal claim says</a></div><p class="o-teaser__standfirst"><a href="/content/ddbc0282-6aec-4bb5-bdb6-167564d3d532" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Administrators say inspection of general ledger would have ‘quickly’ led to identification of fraud</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ddbc0282-6aec-4bb5-bdb6-167564d3d532" data-myft-ui="saved" action="/myft/save/ddbc0282-6aec-4bb5-bdb6-167564d3d532" data-js-action="/__myft/api/core/saved/content/ddbc0282-6aec-4bb5-bdb6-167564d3d532?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save EY ‘failed to access key register’ at failed NMC, $2.7bn legal claim says to myFT for later" aria-label="Save EY ‘failed to access key register’ at failed NMC, $2.7bn legal claim says to myFT for later" data-alternate-label="EY ‘failed to access key register’ at failed NMC, $2.7bn legal claim says is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="ddbc0282-6aec-4bb5-bdb6-167564d3d532" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/ddbc0282-6aec-4bb5-bdb6-167564d3d532" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9e297e85-bc1a-4274-951a-2681951885cc.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="People pass EY headquarters in London"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-09-30T20:04:59.263Z">Monday, 30 September, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="21017b4c-2a47-4279-958e-4cb79f186581" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="21017b4c-2a47-4279-958e-4cb79f186581"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ey" aria-label="Category: EY">EY</a></div><div class="o-teaser__heading"><a href="/content/21017b4c-2a47-4279-958e-4cb79f186581" data-trackable="heading-link" class="js-teaser-heading-link">EY picks Anna Anthony as UK boss after three-way race</a></div><p class="o-teaser__standfirst"><a href="/content/21017b4c-2a47-4279-958e-4cb79f186581" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Head of financial services division becomes first woman to run day-to-day operations at a Big Four British business </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="21017b4c-2a47-4279-958e-4cb79f186581" data-myft-ui="saved" action="/myft/save/21017b4c-2a47-4279-958e-4cb79f186581" data-js-action="/__myft/api/core/saved/content/21017b4c-2a47-4279-958e-4cb79f186581?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save EY picks Anna Anthony as UK boss after three-way race to myFT for later" aria-label="Save EY picks Anna Anthony as UK boss after three-way race to myFT for later" data-alternate-label="EY picks Anna Anthony as UK boss after three-way race is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="21017b4c-2a47-4279-958e-4cb79f186581" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/21017b4c-2a47-4279-958e-4cb79f186581" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2254%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4313ebde-969b-49d2-827c-2f4297666a7d.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Anna Anthony, EY’s new UK managing partner"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-09-26T16:01:43.787Z">Thursday, 26 September, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1be9ff48-4b66-461e-9dc9-a3340731bfba" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="1be9ff48-4b66-461e-9dc9-a3340731bfba"><div class="o-teaser__content"><div class="o-teaser__meta"></div><div class="o-teaser__heading"><a href="/content/1be9ff48-4b66-461e-9dc9-a3340731bfba" data-trackable="heading-link" class="js-teaser-heading-link">UK watchdog tells audit firms to report approaches from private equity</a></div><p class="o-teaser__standfirst"><a href="/content/1be9ff48-4b66-461e-9dc9-a3340731bfba" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Financial Reporting Council says outside investment into the sector would bring risks </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1be9ff48-4b66-461e-9dc9-a3340731bfba" data-myft-ui="saved" action="/myft/save/1be9ff48-4b66-461e-9dc9-a3340731bfba" data-js-action="/__myft/api/core/saved/content/1be9ff48-4b66-461e-9dc9-a3340731bfba?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save UK watchdog tells audit firms to report approaches from private equity to myFT for later" aria-label="Save UK watchdog tells audit firms to report approaches from private equity to myFT for later" data-alternate-label="UK watchdog tells audit firms to report approaches from private equity is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="1be9ff48-4b66-461e-9dc9-a3340731bfba" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/1be9ff48-4b66-461e-9dc9-a3340731bfba" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2667%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fee3670fb-620d-41b4-a3e0-d4f926e701bc.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Richard Moriarty"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=mid1;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-09-18T15:59:18.712Z">Wednesday, 18 September, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="abb9be85-7318-460d-a699-07c0a1987ca2" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="abb9be85-7318-460d-a699-07c0a1987ca2"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/ec2e9db3-5230-4542-bb9a-098c6dafecda" aria-label="Category: Grant Thornton UK LLP">Grant Thornton UK LLP</a></div><div class="o-teaser__heading"><a href="/content/abb9be85-7318-460d-a699-07c0a1987ca2" data-trackable="heading-link" class="js-teaser-heading-link">Grant Thornton US among shortlist of bidders for UK franchise</a></div><p class="o-teaser__standfirst"><a href="/content/abb9be85-7318-460d-a699-07c0a1987ca2" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Buyout firms EQT and Permira also in running for mid-tier accountancy firm</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="abb9be85-7318-460d-a699-07c0a1987ca2" data-myft-ui="saved" action="/myft/save/abb9be85-7318-460d-a699-07c0a1987ca2" data-js-action="/__myft/api/core/saved/content/abb9be85-7318-460d-a699-07c0a1987ca2?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Grant Thornton US among shortlist of bidders for UK franchise to myFT for later" aria-label="Save Grant Thornton US among shortlist of bidders for UK franchise to myFT for later" data-alternate-label="Grant Thornton US among shortlist of bidders for UK franchise is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="abb9be85-7318-460d-a699-07c0a1987ca2" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/abb9be85-7318-460d-a699-07c0a1987ca2" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2288%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F21eef1c1-4691-430f-8d08-e18ee21a8e41.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="City of London skyline"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-09-09T16:11:53.233Z">Monday, 9 September, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="d5f933b5-142f-4a46-8d73-e5e00d4c74bb" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="d5f933b5-142f-4a46-8d73-e5e00d4c74bb"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-financial-regulation" aria-label="Category: US financial regulation">US financial regulation</a></div><div class="o-teaser__heading"><a href="/content/d5f933b5-142f-4a46-8d73-e5e00d4c74bb" data-trackable="heading-link" class="js-teaser-heading-link">US audit firms ordered to bring in outsiders to oversee quality</a></div><p class="o-teaser__standfirst"><a href="/content/d5f933b5-142f-4a46-8d73-e5e00d4c74bb" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Larger firms will have to set up an oversight board with at least one independent outsider</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="d5f933b5-142f-4a46-8d73-e5e00d4c74bb" data-myft-ui="saved" action="/myft/save/d5f933b5-142f-4a46-8d73-e5e00d4c74bb" data-js-action="/__myft/api/core/saved/content/d5f933b5-142f-4a46-8d73-e5e00d4c74bb?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save US audit firms ordered to bring in outsiders to oversee quality to myFT for later" aria-label="Save US audit firms ordered to bring in outsiders to oversee quality to myFT for later" data-alternate-label="US audit firms ordered to bring in outsiders to oversee quality is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="d5f933b5-142f-4a46-8d73-e5e00d4c74bb" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/d5f933b5-142f-4a46-8d73-e5e00d4c74bb" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2254%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F3d60e8f6-fe01-4a0d-b3aa-006af2629381.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Erica Williams"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-09-03T18:19:35.059Z">Tuesday, 3 September, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="edb26f91-7370-4c17-a5c5-1f9f7d387dee" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="edb26f91-7370-4c17-a5c5-1f9f7d387dee"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ey" aria-label="Category: EY">EY</a></div><div class="o-teaser__heading"><a href="/content/edb26f91-7370-4c17-a5c5-1f9f7d387dee" data-trackable="heading-link" class="js-teaser-heading-link">EY draws up female-dominated shortlist for top UK job</a></div><p class="o-teaser__standfirst"><a href="/content/edb26f91-7370-4c17-a5c5-1f9f7d387dee" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Race to succeed Hywel Ball will see weeks of soundings with partners over trio of candidates </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="edb26f91-7370-4c17-a5c5-1f9f7d387dee" data-myft-ui="saved" action="/myft/save/edb26f91-7370-4c17-a5c5-1f9f7d387dee" data-js-action="/__myft/api/core/saved/content/edb26f91-7370-4c17-a5c5-1f9f7d387dee?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save EY draws up female-dominated shortlist for top UK job to myFT for later" aria-label="Save EY draws up female-dominated shortlist for top UK job to myFT for later" data-alternate-label="EY draws up female-dominated shortlist for top UK job is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="edb26f91-7370-4c17-a5c5-1f9f7d387dee" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/edb26f91-7370-4c17-a5c5-1f9f7d387dee" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2443%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd3b63ea1-5832-4871-89ab-49c294fa99ca.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="EY’s London headquarters"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-08-28T04:00:32.238Z">Wednesday, 28 August, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="95f0df89-4b03-47fd-bfb6-3b9726a8c856" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="95f0df89-4b03-47fd-bfb6-3b9726a8c856"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Business Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stephen-foley" aria-label="Category: Stephen Foley">Stephen Foley</a></div><div class="o-teaser__heading"><a href="/content/95f0df89-4b03-47fd-bfb6-3b9726a8c856" data-trackable="heading-link" class="js-teaser-heading-link">Accountancy firms fight back against audit reforms</a></div><p class="o-teaser__standfirst"><a href="/content/95f0df89-4b03-47fd-bfb6-3b9726a8c856" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Big firms are battling against proposed rules on external oversight </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="95f0df89-4b03-47fd-bfb6-3b9726a8c856" data-myft-ui="saved" action="/myft/save/95f0df89-4b03-47fd-bfb6-3b9726a8c856" data-js-action="/__myft/api/core/saved/content/95f0df89-4b03-47fd-bfb6-3b9726a8c856?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Accountancy firms fight back against audit reforms to myFT for later" aria-label="Save Accountancy firms fight back against audit reforms to myFT for later" data-alternate-label="Accountancy firms fight back against audit reforms is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="95f0df89-4b03-47fd-bfb6-3b9726a8c856" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/95f0df89-4b03-47fd-bfb6-3b9726a8c856" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2254%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F2e2a5d37-a215-490e-8aa9-e2b5cefe3c99.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Erica Williams, chair of the Public Company Accounting Oversight Board"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-08-26T04:00:12.678Z">Monday, 26 August, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/ff4b4fa4-4edd-4cd4-8365-1ccc6f7635f2" aria-label="Category: KPMG UK">KPMG UK</a></div><div class="o-teaser__heading"><a href="/content/d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5" data-trackable="heading-link" class="js-teaser-heading-link">KPMG wins £223mn UK government contract amid plans to cut consultant spending</a></div><p class="o-teaser__standfirst"><a href="/content/d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Big Four firm given its second-biggest public sector mandate before Labour pledged to reduce reliance on external firms</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5" data-myft-ui="saved" action="/myft/save/d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5" data-js-action="/__myft/api/core/saved/content/d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save KPMG wins £223mn UK government contract amid plans to cut consultant spending to myFT for later" aria-label="Save KPMG wins £223mn UK government contract amid plans to cut consultant spending to myFT for later" data-alternate-label="KPMG wins £223mn UK government contract amid plans to cut consultant spending is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/d6da606d-76c7-44cd-a6ca-b6cdd5ba2ea5" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F040c6f78-1612-4ba3-aacc-9c5f1dfe43f1.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A worker, wearing a black jacket and jeans, enters the office development at One St Peter's Square, home to KPMG Europe LLP, in Manchester, UK. The entrance features glass doors with the KPMG logo above."/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-08-24T12:00:48.753Z">Saturday, 24 August, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/ec2e9db3-5230-4542-bb9a-098c6dafecda" aria-label="Category: Grant Thornton UK LLP">Grant Thornton UK LLP</a></div><div class="o-teaser__heading"><a href="/content/ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0" data-trackable="heading-link" class="js-teaser-heading-link">Private equity circles Grant Thornton’s UK business</a></div><p class="o-teaser__standfirst"><a href="/content/ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Carlyle, Blackstone and Permira among firms considering buying a stake in mid-tier accountant</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0" data-myft-ui="saved" action="/myft/save/ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0" data-js-action="/__myft/api/core/saved/content/ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Private equity circles Grant Thornton’s UK business to myFT for later" aria-label="Save Private equity circles Grant Thornton’s UK business to myFT for later" data-alternate-label="Private equity circles Grant Thornton’s UK business is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/ee0f1bd9-1f23-45f4-ab0b-6ad27bc6a7b0" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2000%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa2fa55e0-35ed-4cbd-9a86-73acac0c23fd.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Grant Thornton offices in Bristol"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-08-21T20:00:26.977Z">Wednesday, 21 August, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6e165676-30b1-4567-8cb1-647c15bb015d" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="6e165676-30b1-4567-8cb1-647c15bb015d"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/16467d92-aef7-43f1-a843-d3de1b94c59f" aria-label="Category: PwC">PwC</a></div><div class="o-teaser__heading"><a href="/content/6e165676-30b1-4567-8cb1-647c15bb015d" data-trackable="heading-link" class="js-teaser-heading-link">PwC braced for 6-month ban in China over Evergrande audit</a></div><p class="o-teaser__standfirst"><a href="/content/6e165676-30b1-4567-8cb1-647c15bb015d" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Expected punishment for work on failed property developer’s accounts would be toughest by Beijing against a Big Four firm</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6e165676-30b1-4567-8cb1-647c15bb015d" data-myft-ui="saved" action="/myft/save/6e165676-30b1-4567-8cb1-647c15bb015d" data-js-action="/__myft/api/core/saved/content/6e165676-30b1-4567-8cb1-647c15bb015d?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save PwC braced for 6-month ban in China over Evergrande audit to myFT for later" aria-label="Save PwC braced for 6-month ban in China over Evergrande audit to myFT for later" data-alternate-label="PwC braced for 6-month ban in China over Evergrande audit is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="6e165676-30b1-4567-8cb1-647c15bb015d" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/6e165676-30b1-4567-8cb1-647c15bb015d" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fce5606c2-ac9f-4b5c-87bc-109c8639247b.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A combination image of the PwC logo and unfinished residential towers"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-08-19T04:00:45.390Z">Monday, 19 August, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="e8f8c45c-2050-4646-a717-cbd337ccbdbc" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="e8f8c45c-2050-4646-a717-cbd337ccbdbc"><div class="o-teaser__content"><div class="o-teaser__meta"></div><div class="o-teaser__heading"><a href="/content/e8f8c45c-2050-4646-a717-cbd337ccbdbc" data-trackable="heading-link" class="js-teaser-heading-link">SEC accused of ‘censorship’ over politically sensitive audit paper</a></div><p class="o-teaser__standfirst"><a href="/content/e8f8c45c-2050-4646-a717-cbd337ccbdbc" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Academic says she was forced to delay publication of paper highlighting pressure on smaller audit firms</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="e8f8c45c-2050-4646-a717-cbd337ccbdbc" data-myft-ui="saved" action="/myft/save/e8f8c45c-2050-4646-a717-cbd337ccbdbc" data-js-action="/__myft/api/core/saved/content/e8f8c45c-2050-4646-a717-cbd337ccbdbc?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save SEC accused of ‘censorship’ over politically sensitive audit paper to myFT for later" aria-label="Save SEC accused of ‘censorship’ over politically sensitive audit paper to myFT for later" data-alternate-label="SEC accused of ‘censorship’ over politically sensitive audit paper is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="e8f8c45c-2050-4646-a717-cbd337ccbdbc" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/e8f8c45c-2050-4646-a717-cbd337ccbdbc" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2254%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F197fd5d4-0ac0-4b99-a5ed-a978a9115f30.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="The SEC seal on its headquarters in Washington, DC"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-08-16T04:00:24.644Z">Friday, 16 August, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="faea9b00-eadd-4eeb-a9c5-c42d830957b5" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="faea9b00-eadd-4eeb-a9c5-c42d830957b5"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/16467d92-aef7-43f1-a843-d3de1b94c59f" aria-label="Category: PwC">PwC</a></div><div class="o-teaser__heading"><a href="/content/faea9b00-eadd-4eeb-a9c5-c42d830957b5" data-trackable="heading-link" class="js-teaser-heading-link">UK property developer sues PwC alleging ‘negligent’ tax advice</a></div><p class="o-teaser__standfirst"><a href="/content/faea9b00-eadd-4eeb-a9c5-c42d830957b5" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Revelan is seeking about £6.6mn for loss and damages after claiming consulting firm ‘failed to accurately calculate tax due’</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="faea9b00-eadd-4eeb-a9c5-c42d830957b5" data-myft-ui="saved" action="/myft/save/faea9b00-eadd-4eeb-a9c5-c42d830957b5" data-js-action="/__myft/api/core/saved/content/faea9b00-eadd-4eeb-a9c5-c42d830957b5?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save UK property developer sues PwC alleging ‘negligent’ tax advice to myFT for later" aria-label="Save UK property developer sues PwC alleging ‘negligent’ tax advice to myFT for later" data-alternate-label="UK property developer sues PwC alleging ‘negligent’ tax advice is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="faea9b00-eadd-4eeb-a9c5-c42d830957b5" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/faea9b00-eadd-4eeb-a9c5-c42d830957b5" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2444%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F09daeeff-bb16-46e7-b475-05b418ea3342.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="PwC offices in London"/></div></a></div></div> </div> </div> </li> </ul> </div> <div data-stream-additions aria-live="polite" aria-relevant="additions" class="stream__a11y o-normalise-visually-hidden"> </div> <div data-pagination role="navigation" aria-label="Pagination" class="stream__pagination o-buttons-pagination"> <a data-pagination-previous data-trackable="previous-page" disabled class="o-buttons o-buttons--secondary o-buttons-icon o-buttons-icon--arrow-left o-buttons-icon--icon-only"> <span class="o-buttons-icon__label">Previous page</span> </a> <span class="stream__pagination-label"> You are on page <strong data-pagination-page>1</strong> </span> <a data-pagination-next data-trackable="next-page" href="?page=2" class="o-buttons o-buttons--secondary o-buttons-icon o-buttons-icon--arrow-right o-buttons-icon--icon-only"> <span class="o-buttons-icon__label">Next page</span> </a> </div> </div> <div class="stream__right-hand " data-o-grid-colspan="12 L4 XL3 XLoffset1" > <div class="o-grid-row"> <h2 class="o-header__visually-hidden">Topics to follow</h2> <div class="industry-recommendations o-teaser-collection js-track-scroll-event" data-o-grid-colspan="12" data-trackable="industry-recommendations" > <section class="collection collection--regular" data-trackable="collection"> <header class="collection__header collection__header--regular"> <h3 class="collection__title collection__title--regular"> Topics related to Accountancy & tax advisory </h3> </header> <ul class="collection__concepts"> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="93f42e47-dfe4-410c-a240-68465f270ec1" action="/myft/add/93f42e47-dfe4-410c-a240-68465f270ec1" data-js-action="/__myft/api/core/followed/concept/93f42e47-dfe4-410c-a240-68465f270ec1?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following Accounting & Consulting services." data-unpressed-text="No longer following Accounting & Consulting services." ></div> <button aria-pressed="false" aria-label="Add to myFT: Accounting & Consulting services" title="Add Accounting & Consulting services to myFT" data-alternate-label="Added Accounting & Consulting services to myFT: click to remove" data-alternate-text="Accounting & Consulting services" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="93f42e47-dfe4-410c-a240-68465f270ec1" data-trackable="follow" type="submit">Accounting & Consulting services</button> </form> </li> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="0e110c05-b3e6-4d8c-90e0-6632f398f1ac" action="/myft/add/0e110c05-b3e6-4d8c-90e0-6632f398f1ac" data-js-action="/__myft/api/core/followed/concept/0e110c05-b3e6-4d8c-90e0-6632f398f1ac?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following KPMG LLP." data-unpressed-text="No longer following KPMG LLP." ></div> <button aria-pressed="false" aria-label="Add to myFT: KPMG LLP" title="Add KPMG LLP to myFT" data-alternate-label="Added KPMG LLP to myFT: click to remove" data-alternate-text="KPMG LLP" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="0e110c05-b3e6-4d8c-90e0-6632f398f1ac" data-trackable="follow" type="submit">KPMG LLP</button> </form> </li> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="4985c310-982b-40c6-809e-e7a8792c9336" action="/myft/add/4985c310-982b-40c6-809e-e7a8792c9336" data-js-action="/__myft/api/core/followed/concept/4985c310-982b-40c6-809e-e7a8792c9336?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following EY." data-unpressed-text="No longer following EY." ></div> <button aria-pressed="false" aria-label="Add to myFT: EY" title="Add EY to myFT" data-alternate-label="Added EY to myFT: click to remove" data-alternate-text="EY" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="4985c310-982b-40c6-809e-e7a8792c9336" data-trackable="follow" type="submit">EY</button> </form> </li> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="3cf32c5c-0134-4755-8a53-6f029205be89" action="/myft/add/3cf32c5c-0134-4755-8a53-6f029205be89" data-js-action="/__myft/api/core/followed/concept/3cf32c5c-0134-4755-8a53-6f029205be89?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following Accountancy." data-unpressed-text="No longer following Accountancy." ></div> <button aria-pressed="false" aria-label="Add to myFT: Accountancy" title="Add Accountancy to myFT" data-alternate-label="Added Accountancy to myFT: click to remove" data-alternate-text="Accountancy" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="3cf32c5c-0134-4755-8a53-6f029205be89" data-trackable="follow" type="submit">Accountancy</button> </form> </li> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="16467d92-aef7-43f1-a843-d3de1b94c59f" action="/myft/add/16467d92-aef7-43f1-a843-d3de1b94c59f" data-js-action="/__myft/api/core/followed/concept/16467d92-aef7-43f1-a843-d3de1b94c59f?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following PwC." data-unpressed-text="No longer following PwC." ></div> <button aria-pressed="false" aria-label="Add to myFT: PwC" title="Add PwC to myFT" data-alternate-label="Added PwC to myFT: click to remove" data-alternate-text="PwC" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="16467d92-aef7-43f1-a843-d3de1b94c59f" data-trackable="follow" type="submit">PwC</button> </form> </li> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="0be7abda-7786-4849-ad89-664e60d1156b" action="/myft/add/0be7abda-7786-4849-ad89-664e60d1156b" data-js-action="/__myft/api/core/followed/concept/0be7abda-7786-4849-ad89-664e60d1156b?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following Tax." data-unpressed-text="No longer following Tax." ></div> <button aria-pressed="false" aria-label="Add to myFT: Tax" title="Add Tax to myFT" data-alternate-label="Added Tax to myFT: click to remove" data-alternate-text="Tax" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="0be7abda-7786-4849-ad89-664e60d1156b" data-trackable="follow" type="submit">Tax</button> </form> </li> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="325f8bb3-f356-49b7-81f9-39874259d49e" action="/myft/add/325f8bb3-f356-49b7-81f9-39874259d49e" data-js-action="/__myft/api/core/followed/concept/325f8bb3-f356-49b7-81f9-39874259d49e?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following International tax." data-unpressed-text="No longer following International tax." ></div> <button aria-pressed="false" aria-label="Add to myFT: International tax" title="Add International tax to myFT" data-alternate-label="Added International tax to myFT: click to remove" data-alternate-text="International tax" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="325f8bb3-f356-49b7-81f9-39874259d49e" data-trackable="follow" type="submit">International tax</button> </form> </li> <li class="collection__concept"> <form class="n-myft-ui n-myft-ui--follow " method="GET" data-myft-ui="follow" data-concept-id="f1c79b49-d38d-4edd-81a0-53317248951a" action="/myft/add/f1c79b49-d38d-4edd-81a0-53317248951a" data-js-action="/__myft/api/core/followed/concept/f1c79b49-d38d-4edd-81a0-53317248951a?method=put" > <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Now following Deloitte." data-unpressed-text="No longer following Deloitte." ></div> <button aria-pressed="false" aria-label="Add to myFT: Deloitte" title="Add Deloitte to myFT" data-alternate-label="Added Deloitte to myFT: click to remove" data-alternate-text="Deloitte" class=" n-myft-follow-button n-myft-follow-button--inverse" data-concept-id="f1c79b49-d38d-4edd-81a0-53317248951a" data-trackable="follow" type="submit">Deloitte</button> </form> </li> </ul> <div class="collection__meta"> <form method="POST" action="#" data-myft-ui="follow" data-concept-id="93f42e47-dfe4-410c-a240-68465f270ec1,0e110c05-b3e6-4d8c-90e0-6632f398f1ac,4985c310-982b-40c6-809e-e7a8792c9336,3cf32c5c-0134-4755-8a53-6f029205be89,16467d92-aef7-43f1-a843-d3de1b94c59f,0be7abda-7786-4849-ad89-664e60d1156b,325f8bb3-f356-49b7-81f9-39874259d49e,f1c79b49-d38d-4edd-81a0-53317248951a" class="n-myft-ui n-myft-ui--follow n-ui-hide-core collection-follow-all"> <input type="hidden" name="directType" value="http://www.ft.com/ontology/Topic,http://www.ft.com/ontology/organisation/Organisation,http://www.ft.com/ontology/organisation/Organisation,http://www.ft.com/ontology/Topic,http://www.ft.com/ontology/organisation/Organisation,http://www.ft.com/ontology/Topic,http://www.ft.com/ontology/Topic,http://www.ft.com/ontology/organisation/Organisation" /> <input data-myft-csrf-token value="" type="hidden" name="token"> <input type="hidden" name="name" value="Accounting & Consulting services,KPMG LLP,EY,Accountancy,PwC,Tax,International tax,Deloitte" /> <button type="submit" aria-pressed="false" class="collection-follow-all__button collection-follow-all__button--regular" data-trackable="follow all" data-concept-id="93f42e47-dfe4-410c-a240-68465f270ec1,0e110c05-b3e6-4d8c-90e0-6632f398f1ac,4985c310-982b-40c6-809e-e7a8792c9336,3cf32c5c-0134-4755-8a53-6f029205be89,16467d92-aef7-43f1-a843-d3de1b94c59f,0be7abda-7786-4849-ad89-664e60d1156b,325f8bb3-f356-49b7-81f9-39874259d49e,f1c79b49-d38d-4edd-81a0-53317248951a" aria-label="Add all to myFT: Topics related to Accountancy & tax advisory collection" data-alternate-label="Added: click to remove all topics in the Topics related to Accountancy & tax advisory collection from my FT" data-alternate-text="Added" title="Add all topics in the Topics related to Accountancy & tax advisory collection to my FT"> Add all to myFT </button> </form> </div> </section> </div> <div class="o-ads advert--mid-small-medium" data-o-ads-name="mid-small" data-o-ads-targeting="pos=mid" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="false" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> <div class="o-ads advert--sidebar advert--sidebar-mid " data-o-ads-name="mid-non-responsive-large" data-o-ads-targeting="pos=mid;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="false" data-o-ads-formats-medium="false" data-o-ads-formats-large="MediumRectangle,HalfPage,OneByOne,Responsive" data-o-ads-formats-extra="MediumRectangle,HalfPage,OneByOne,Responsive" aria-hidden="true"> </div> <div class="o-ads advert--sidebar advert--sidebar-mid1 " data-o-ads-name="mid1-non-responsive-large" data-o-ads-targeting="pos=mid1" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="false" data-o-ads-formats-medium="false" data-o-ads-formats-large="MediumRectangle,OneByOne,HalfPage,Responsive" data-o-ads-formats-extra="MediumRectangle,OneByOne,HalfPage,Responsive" aria-hidden="true"> </div> </div> </div> </div> </div> </div></div></div><div class="n-layout__row n-layout__row--footer"><footer id="site-footer" class="o-footer o-footer--theme-dark" data-o-component="o-footer"><div class="o-footer__container"><div class="o-footer__row"><h2 class="o-normalise-visually-hidden">Useful links</h2><nav class="o-footer__matrix" role="navigation" aria-label="Useful links"><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-0">Support</h3><div class="o-footer__matrix-content" id="o-footer-section-0"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="/tour" data-trackable="View Site Tips"><span class="o-footer__matrix-link__copy">View Site Tips</span></a><a class="o-footer__matrix-link" href="https://help.ft.com" data-trackable="Help Centre"><span class="o-footer__matrix-link__copy">Help Centre</span></a><a class="o-footer__matrix-link" href="https://aboutus.ft.com/contact-us" data-trackable="Contact Us"><span class="o-footer__matrix-link__copy">Contact Us</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/aboutus" data-trackable="About Us"><span class="o-footer__matrix-link__copy">About Us</span></a><a class="o-footer__matrix-link" href="/accessibility" data-trackable="Accessibility"><span class="o-footer__matrix-link__copy">Accessibility</span></a><a class="o-footer__matrix-link" href="/tour/myft" data-trackable="myFT Tour"><span class="o-footer__matrix-link__copy">myFT Tour</span></a><a class="o-footer__matrix-link" href="https://aboutus.ft.com/en-gb/careers/" data-trackable="Careers"><span class="o-footer__matrix-link__copy">Careers</span></a><a class="o-footer__matrix-link" href="https://aboutus.ft.com/suppliers" data-trackable="Suppliers"><span class="o-footer__matrix-link__copy">Suppliers</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-1">Legal & Privacy</h3><div class="o-footer__matrix-content" id="o-footer-section-1"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/terms-conditions/" data-trackable="Terms & Conditions"><span class="o-footer__matrix-link__copy">Terms & Conditions</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/privacy/" data-trackable="Privacy Policy"><span class="o-footer__matrix-link__copy">Privacy Policy</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/cookies/" data-trackable="Cookie Policy"><span class="o-footer__matrix-link__copy">Cookie Policy</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/preferences/manage-cookies" data-trackable="Manage Cookies"><span class="o-footer__matrix-link__copy">Manage Cookies</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal-privacy/copyright/copyright-policy/" data-trackable="Copyright"><span class="o-footer__matrix-link__copy">Copyright</span></a><a class="o-footer__matrix-link" href="https://help.ft.com/help/legal/slavery-statement/" data-trackable="Slavery Statement & Policies"><span class="o-footer__matrix-link__copy">Slavery Statement & Policies</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-2">Services</h3><div class="o-footer__matrix-content" id="o-footer-section-2"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="/securedrop" data-trackable="Share News Tips Securely" data-o-tracking-do-not-track="true"><span class="o-footer__matrix-link__copy">Share News Tips Securely</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/products" data-trackable="Individual Subscriptions"><span class="o-footer__matrix-link__copy">Individual Subscriptions</span></a><a class="o-footer__matrix-link" href="https://professional.ft.com/en-gb/services/professional-subscriptions?segmentId=383c7f[…]4-b62d-cb33-4c278e6fdf61&cpccampaign=B2B_link_ft.com_footer" data-trackable="Professional Subscriptions"><span class="o-footer__matrix-link__copy">Professional Subscriptions</span></a><a class="o-footer__matrix-link" href="https://professional.ft.com/en-gb/services/republishing/" data-trackable="Republishing"><span class="o-footer__matrix-link__copy">Republishing</span></a><a class="o-footer__matrix-link" href="https://www.exec-appointments.com/" data-trackable="Executive Job Search"><span class="o-footer__matrix-link__copy">Executive Job Search</span></a><a class="o-footer__matrix-link" href="https://commercial.ft.com/" data-trackable="Advertise with the FT"><span class="o-footer__matrix-link__copy">Advertise with the FT</span></a><a class="o-footer__matrix-link" href="https://twitter.com/ft" data-trackable="Follow the FT on X"><span class="o-footer__matrix-link__copy">Follow the FT on X</span></a><a class="o-footer__matrix-link" href="https://channels.ft.com/" data-trackable="FT Channels"><span class="o-footer__matrix-link__copy">FT Channels</span></a><a class="o-footer__matrix-link" href="https://enterprise.ft.com/en-gb/services/group-subscriptions/secondary-education/" data-trackable="FT Schools"><span class="o-footer__matrix-link__copy">FT Schools</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-3">Tools</h3><div class="o-footer__matrix-content" id="o-footer-section-3"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="https://markets.ft.com/data/portfolio/dashboard" data-trackable="Portfolio"><span class="o-footer__matrix-link__copy">Portfolio</span></a><a class="o-footer__matrix-link" href="https://applink.ft.com/A6lV/2khsqyrh" data-trackable="FT App"><span class="o-footer__matrix-link__copy">FT App</span></a><a class="o-footer__matrix-link" href="https://www.ft.com/todaysnewspaper" data-trackable="FT Digital Edition"><span class="o-footer__matrix-link__copy">FT Digital Edition</span></a><a class="o-footer__matrix-link" href="https://ftedit.ft.com/Ju3k/pqkac2ds" data-trackable="FT Edit"><span class="o-footer__matrix-link__copy">FT Edit</span></a><a class="o-footer__matrix-link" href="https://markets.ft.com/data/alerts/" data-trackable="Alerts Hub"><span class="o-footer__matrix-link__copy">Alerts Hub</span></a><a class="o-footer__matrix-link" href="https://rankings.ft.com/business-education" data-trackable="Business School Rankings"><span class="o-footer__matrix-link__copy">Business School Rankings</span></a><a class="o-footer__matrix-link" href="https://subscription-manager.ft.com/" data-trackable="Subscription Manager"><span class="o-footer__matrix-link__copy">Subscription Manager</span></a><a class="o-footer__matrix-link" href="/news-feed" data-trackable="News feed"><span class="o-footer__matrix-link__copy">News feed</span></a><a class="o-footer__matrix-link" href="/newsletters" data-trackable="Newsletters"><span class="o-footer__matrix-link__copy">Newsletters</span></a><a class="o-footer__matrix-link" href="https://markets.ft.com/data/currencies" data-trackable="Currency Converter"><span class="o-footer__matrix-link__copy">Currency Converter</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title" aria-controls="o-footer-section-4">Community & Events</h3><div class="o-footer__matrix-content" id="o-footer-section-4"><div class="o-footer__matrix-column"><a class="o-footer__matrix-link" href="https://events.ft.com/events-list" data-trackable="FT Live Events"><span class="o-footer__matrix-link__copy">FT Live Events</span></a><a class="o-footer__matrix-link" href="https://forums.ft.com/" data-trackable="FT Forums"><span class="o-footer__matrix-link__copy">FT Forums</span></a><a class="o-footer__matrix-link" href="https://bdp.ft.com/" data-trackable="Board Director Programme"><span class="o-footer__matrix-link__copy">Board Director Programme</span></a></div></div></div><div class="o-footer__matrix-group o-footer__matrix-group--1"><h3 class="o-footer__matrix-title o-footer__matrix-title--link"><a class="o-footer__matrix-link o-footer__matrix-link--more" id="o-footer-5" href="https://ft.com/more-from-ft-group"><span class="o-footer__matrix-link__copy">More from the FT Group</span></a></h3></div></nav></div><div class="o-footer__copyright"><small>Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2024. <abbr title="Financial Times" aria-label="F T">FT</abbr> and ‘Financial Times’ are trademarks of The Financial Times Ltd.<br/>The Financial Times and its journalism are subject to a self-regulation regime under the <a href="https://aboutus.ft.com/en-gb/ft-editorial-code/" aria-label="F T Editorial Code of Practice">FT Editorial Code of Practice</a>.</small></div></div><div class="o-footer__brand"><div class="o-footer__container"><div class="o-footer__brand-logo"></div></div></div></footer><div class="n-layout__footer-after"><script data-pixel-src="https://spoor-api.ft.com/px.gif?data=%7B%22category%22%3A%22page%22%2C%22action%22%3A%22view%22%2C%22system%22%3A%7B%22source%22%3A%22non-ctm%22%7D%2C%22context%22%3A%7B%22name%22%3A%22stream-page%22%2C%22product%22%3A%22next%22%2C%22data%22%3A%7B%22source%22%3A%22%5BSOURCE%5D%22%7D%7D%7D">(function coreExperience() { if (/\bcore\b/.test(document.documentElement.className)) { // eslint-disable-next-line no-var var currentScript = document.scripts[document.scripts.length - 1]; // eslint-disable-next-line no-var var img = new Image(); img.alt = ''; img.src = currentScript.getAttribute('data-pixel-src'); } })();</script><noscript><img src="https://spoor-api.ft.com/px.gif?data=%7B%22category%22%3A%22page%22%2C%22action%22%3A%22view%22%2C%22system%22%3A%7B%22source%22%3A%22non-ctm%22%7D%2C%22context%22%3A%7B%22name%22%3A%22stream-page%22%2C%22product%22%3A%22next%22%2C%22data%22%3A%7B%22source%22%3A%22%5BSOURCE%5D%22%7D%7D%7D" alt=""/></noscript></div></div><div class="o-header__drawer" id="o-header-drawer" role="modal" aria-label="Drawer menu" aria-modal="true" data-o-header-drawer="true" data-o-header-drawer--no-js="true" data-trackable="drawer" data-trackable-terminate="true"><div class="o-header__drawer-inner"><div class="o-header__drawer-tools"><button type="button" class="o-header__drawer-tools-close" title="Close side navigation menu" aria-controls="o-header-drawer" data-trackable="close"><span class="o-header__visually-hidden">Close side navigation menu</span></button><nav class="o-header__drawer-menu o-header__drawer-edition-switcher" aria-label="Edition switcher"><span class="o-header__drawer-menu-item">Edition:</span><span class="o-header__drawer-menu-item o-header__drawer-current-edition">International</span><div class="o-header__drawer-divider"></div><a class="o-header__drawer-menu-link" href="/?edition=uk">UK</a></nav></div><div class="o-header__drawer-search"><form class="o-header__drawer-search-form" action="/search" role="search" aria-label="Site search" data-n-topic-search="true"><label for="o-header-drawer-search-term" class="o-forms-field o-forms-field--optional"><span class="o-forms-title o-header__visually-hidden"><span class="o-forms-title__main">Search the <abbr title="Financial Times">FT</abbr></span></span><span class="o-forms-input o-forms-input--text o-forms-input--suffix"><input type="search" id="o-header-drawer-search-term" name="q" autoComplete="off" autoCorrect="off" autoCapitalize="off" spellcheck="false" data-trackable="search-term" data-n-topic-search-input="true" placeholder="Search for stories, topics or securities" role="combobox" aria-controls="suggestions-o-header-drawer-search-term" data-n-topic-search-drawer="true"/><button class="o-header__drawer-search-submit" type="submit" data-trackable="search-submit"><span class="o-header__visually-hidden">Search</span></button></span></label></form></div><div class="o-header__drawer-actions"><a class="o-header__drawer-button" role="button" href="/products?segmentId=4526c036-7527-ab37-9a29-0b0403fa0b5f" data-trackable="subscribe-button">Subscribe for full access</a></div><nav class="o-header__drawer-menu o-header__drawer-menu--primary"><h2 id="top-sections" class="o-header__drawer-menu-item o-header__drawer-menu-item--heading">Top sections</h2><ul aria-labelledby="top-sections" class="o-header__drawer-menu-list"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/" data-trackable="Home">Home</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/world" data-trackable="World">World</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-1" data-trackable="sub-level-toggle | World">Show more World</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-1" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/middle-east-war" data-trackable="Middle East war">Middle East war</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/global-economy" data-trackable="Global Economy">Global Economy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/world-uk" data-trackable="UK">UK</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us" data-trackable="US">US</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/china" data-trackable="China">China</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/africa" data-trackable="Africa">Africa</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/asia-pacific" data-trackable="Asia Pacific">Asia Pacific</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/emerging-markets" data-trackable="Emerging Markets">Emerging Markets</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/europe" data-trackable="Europe">Europe</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/war-in-ukraine" data-trackable="War in Ukraine">War in Ukraine</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/americas" data-trackable="Americas">Americas</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/middle-east-north-africa" data-trackable="Middle East & North Africa">Middle East & North Africa</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/us" data-trackable="US">US</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-2" data-trackable="sub-level-toggle | US">Show more US</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-2" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-economy" data-trackable="US Economy">US Economy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/investing-in-america" data-trackable="Investing in America">Investing in America</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-companies" data-trackable="US Companies">US Companies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-politics-policy" data-trackable="US Politics & Policy">US Politics & Policy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-presidential-election-2024" data-trackable="US Presidential Election 2024">US Presidential Election 2024</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/companies" data-trackable="Companies">Companies</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-3" data-trackable="sub-level-toggle | Companies">Show more Companies</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-3" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/energy" data-trackable="Energy">Energy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/financials" data-trackable="Financials">Financials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/health" data-trackable="Health">Health</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/industrials" data-trackable="Industrials">Industrials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/media" data-trackable="Media">Media</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/professional-services" data-trackable="Professional Services">Professional Services</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/retail-consumer" data-trackable="Retail & Consumer">Retail & Consumer</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/technology-sector" data-trackable="Tech Sector">Tech Sector</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/telecoms" data-trackable="Telecoms">Telecoms</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/transport" data-trackable="Transport">Transport</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/technology" data-trackable="Tech">Tech</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-4" data-trackable="sub-level-toggle | Tech">Show more Tech</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-4" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/artificial-intelligence" data-trackable="Artificial intelligence">Artificial intelligence</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/semiconductors" data-trackable="Semiconductors">Semiconductors</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/cyber-security" data-trackable="Cyber Security">Cyber Security</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/social-media" data-trackable="Social Media">Social Media</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/markets" data-trackable="Markets">Markets</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-5" data-trackable="sub-level-toggle | Markets">Show more Markets</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-5" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://markets.ft.com/data" data-trackable="Markets Data">Markets Data</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/crypto" data-trackable="Crypto">Crypto</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/capital-markets" data-trackable="Capital Markets">Capital Markets</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/commodities" data-trackable="Commodities">Commodities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/currencies" data-trackable="Currencies">Currencies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/equities" data-trackable="Equities">Equities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-wealth-management" data-trackable="Wealth Management">Wealth Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/moral-money" data-trackable="Moral Money">Moral Money</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://etf.ft.com" data-trackable="ETF Hub">ETF Hub</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/fund-management" data-trackable="Fund Management">Fund Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-trading-room" data-trackable="Trading">Trading</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/climate-capital" data-trackable="Climate">Climate</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/opinion" data-trackable="Opinion">Opinion</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-7" data-trackable="sub-level-toggle | Opinion">Show more Opinion</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-7" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/columnists" data-trackable="Columnists">Columnists</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-view" data-trackable="The FT View">The FT View</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/the-big-read" data-trackable="The Big Read">The Big Read</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/obituaries" data-trackable="Obituaries">Obituaries</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/letters" data-trackable="Letters">Letters</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/work-careers" data-trackable="Work & Careers">Work & Careers</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-9" data-trackable="sub-level-toggle | Work & Careers">Show more Work & Careers</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-9" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/business-education" data-trackable="Business School Rankings">Business School Rankings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-education" data-trackable="Business Education">Business Education</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/incubator-accelerator-programmes-europe" data-trackable="Europe's Start-Up Hubs">Europe's Start-Up Hubs</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/entrepreneurship" data-trackable="Entrepreneurship">Entrepreneurship</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/recruitment" data-trackable="Recruitment">Recruitment</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-books" data-trackable="Business Books">Business Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-travel" data-trackable="Business Travel">Business Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/working-it" data-trackable="Working It">Working It</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/life-arts" data-trackable="Life & Arts">Life & Arts</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-10" data-trackable="sub-level-toggle | Life & Arts">Show more Life & Arts</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-10" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/arts" data-trackable="Arts">Arts</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/books" data-trackable="Books">Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/food-drink" data-trackable="Food & Drink">Food & Drink</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/magazine" data-trackable="FT Magazine">FT Magazine</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/house-home" data-trackable="House & Home">House & Home</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/style" data-trackable="Style">Style</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/travel" data-trackable="Travel">Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/personal-finance" data-trackable="Personal Finance">Personal Finance</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-11" data-trackable="sub-level-toggle | Personal Finance">Show more Personal Finance</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-11" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/mortgages" data-trackable="Property & Mortgages">Property & Mortgages</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/investments" data-trackable="Investments">Investments</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/pensions" data-trackable="Pensions">Pensions</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/tax" data-trackable="Tax">Tax</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/banking-savings" data-trackable="Banking & Savings">Banking & Savings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/advice-comment" data-trackable="Advice & Comment">Advice & Comment</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/next-act" data-trackable="Next Act">Next Act</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/htsi" data-trackable="HTSI">HTSI</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/special-reports" data-trackable="Special Reports">Special Reports</a></li></ul><h2 id="ft-recommends" class="o-header__drawer-menu-item o-header__drawer-menu-item--heading">FT recommends</h2><ul aria-labelledby="ft-recommends" class="o-header__drawer-menu-list"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/ft-edit" data-trackable="FT Edit">FT Edit</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lunch-with-the-ft" data-trackable="Lunch with the FT">Lunch with the FT</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://www.ft.com/tech-asia" data-trackable="#techAsia">#techAsia</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/moral-money" data-trackable="Moral Money">Moral Money</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/visual-and-data-journalism" data-trackable="Visual and data journalism">Visual and data journalism</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/newsletters" data-trackable="Newsletters">Newsletters</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/video" data-trackable="Video">Video</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://www.ft.com/podcasts" data-trackable="Podcasts">Podcasts</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/news-feed" data-trackable="News feed">News feed</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/ft-schools" data-trackable="FT Schools">FT Schools</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://events.ft.com/events-list" data-trackable="FT Live Events">FT Live Events</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://forums.ft.com/" data-trackable="FT Forums">FT Forums</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="https://bdp.ft.com/" data-trackable="Board Director Programme">Board Director Programme</a></li></ul><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--divide"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--secondary" href="/myft" data-trackable="myFT">myFT</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--secondary" href="https://markets.ft.com/data/portfolio/dashboard" data-trackable="Portfolio">Portfolio</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--secondary" href="https://www.ft.com/todaysnewspaper" data-trackable="FT Digital Edition">FT Digital Edition</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--secondary" href="https://www.ft.com/crossword" data-trackable="Crossword">Crossword</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--secondary" href="https://www.ft.com/tour/apps" data-trackable="Our Apps">Our Apps</a></li></ul></nav><nav class="o-header__drawer-menu o-header__drawer-menu--user" data-trackable="user-nav"><ul class="o-header__drawer-menu-list"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link" href="https://help.ft.com" data-trackable="Help Centre">Help Centre</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link" href="/products?segmentId=d290332b-e8e8-d29b-2ff4-2019b13f008a" data-trackable="Subscribe">Subscribe</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link" href="/login?location=/accountancy" data-trackable="Sign In">Sign In</a></li></ul></nav></div></div></div><script type="application/json" id="page-kit-app-context">{"appName":"stream-page","product":"next","edition":"international","appVersion":"d5e31650857d900d513361cd4e9e1eb86600ad82","abTestState":"messageSlotBottom:cookieConsentC,articlecommunitypromoevent:variant2,appleSignUpForBuyFlowTest:variant","isProduction":true,"isUserLoggedIn":false,"pageKitVersion":"11.0.5","conceptId":"3cf32c5c-0134-4755-8a53-6f029205be89","conceptType":"http://www.ft.com/ontology/Topic"}</script><script type="application/json" id="page-kit-flags-embed">{"articleRelatedContent":true,"ads":true,"javascript":true,"oTracking":true,"articleComments":true,"myFtApi":true,"articleShareButtons":true,"myFtApiWrite":true,"adTargetingUserApi":true,"videoPlayerAdvertising":true,"streamMostRead":true,"openGraph":true,"nativeAds":true,"regionalNews":true,"syndication":true,"myFTEmailDisableABAlloc":true,"streamRecommendedStoriesList":true,"refererCohort":true,"newsletterSignupOnArticle":true,"myFTInstantNotifications":true,"myftPrioritiseTopics":true,"myftIndustryRecs":true,"showEventPromo":true,"myftConsentSwitch":true,"manageCookiesWhiteLabel":true,"myftIndustryRecsFeed":true,"AdsPermutive":true,"syndication_promo":true,"messageSlotBottom":"cookieConsentC","enableGTM":true,"myftNewNewLabel":true,"myftBoldNewArticles":true,"myftPageAppNotificationsToggle":true,"realUserMonitoringForPerformance":true,"textCopyTracking":true,"enableBrandmetricsSurveyScript":true,"managePremiumCancellationJourney":true,"articleInstantAlertsPromo":true,"manageStepUpCancellationJourney":true,"manageStandardCancellationJourney":true,"manageStepUpTransitionJourney":true,"manageDirectCancellationJourney":true,"privShowCCPALinkOnFooter":true,"optimizely":true,"graphicSyndication":true,"adsNativeLazyload":true,"enableRavelinOnProd":true,"enableMarketingAnalyticsTags":true,"streamPageGraphicsList":true,"useFlourish":true,"adsHighImpact":true,"monthlyTermForPremiumCovidCohort":true,"enableNonUKDeliveryAddress":true,"homePageHeaderMarketsData":true,"enableGoogleExtendedMeter":true,"inArticleContentSignUp":true,"frontPageCommunitySection":true,"newBuyFlow":true,"bizzaboRegistrationEnabled":true,"enableSingleTermSubscriptions":true,"newsletterAutoEnrolment":true,"eventsInMyFtPage":true,"eventsInDigestEmails":true,"eventsInStreamPage":true,"ftGlobetrotterBanner":true,"scrollytellingImages":true,"emailVerificationOnSignupForms":true,"AdsExtraMobileSlot":true,"dotcomPages":true,"fomoPage":true,"exponeaOnsiteMessaging":true,"homepageInteractivesEmbeds":true,"bankTransferFeature":true,"articlecommunitypromoevent":"variant2","purgeableLongTailArticleCaching":true,"myAccountLanding":true,"chatterboxChat":true,"liveChat":true,"billingDetailsConfirmationPage":true,"AdsCompaniesTypeaheadDemo":true,"reverseCancellation":true,"adsPGHomePage":true,"saveMeDisplayEdit":true,"adsCommentsRHR":true,"adsPGSearchPage":true,"stripeForIndia":true,"showNoOffersPageInRetention":true,"adsDisableInternalCMP":true,"myFTInstantAlertsOnboarding":true,"proCentralBanking":true,"magnetOnArticle":true,"myftFollowButton":true,"customCodeComponent":true,"extensibleFrontends":true,"adsAppDisableInternalCMP":true,"experimentalAccountEntryTest":true,"enableSubX":true,"homepageClips":true,"enableAppleSignUpForRegFlow":true,"enableAppleSignUpForBuyFlow":true,"workspaceTeaserContextMenu":true,"appleSignUpForBuyFlowTest":"variant","personalFinanceCourseOfferSubscriberRenewalJourney":true,"retentionDirectToSeperateCancelCompareController":true,"enableCorporateBarrier":true,"onboardingCsatSurveyEnabled":true,"adsInsertTexasDNSLink":true,"pro-signup-welcome-page-v2-enabled":true,"inArticleContentSignUpUSElectionNewsletter":true,"enableFTEditRegisterFlow":true,"backToTopButton":true,"adsEnableGpp":true,"amplitudeExperiment":true,"pro-signup-onboarding-enabled":true,"useFlourishIFrame":true,"commentsOnlySubscriber":true,"pro-workspace-recommendation-cards-enabled":true,"articleToolsBox":true,"adsEnableFullBleedResponsive":true,"accountSettingsBillingDetailsPaypal":true,"adsVideoPageConsent":true,"clipsEnhancedPlayer":true,"adsEnableMiniBillboard":true,"ads-refresh-pc":true,"enableProfessionalSubscriptionCheck":true,"ads-validate-traffic-ias":true,"adsEnableMiniBillboardWeb":true,"adsMarketsDataWidget":true,"professional-newsletter-autoenrol-ab":true,"adsArticlePcStyling":true,"ads-adblock-recovery":true,"mprHomePageSlice":true,"liveChatProjectFelix":true,"ads-first-party-gtm":true,"liveBlogPagination":true,"enableWhiteHouseWatchNewsletterSignup":true,"articleBulletPointSummary":true}</script></body></html>

CINXE.COM

Accountancy