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The Business Herald 2013 Review – Professional Services

Painting: Ed Kluz via AllThingsConsidered

By Ian Fraser Published: The Business Herald Date: 11 December 2013 Two of the biggest developments in Scottish professional services in the past year came when global firms set up large “back offices” in Glasgow, both with generous government grants. In April 2013, the accountants KPMG said it would establish “tax centre of excellence” on […]

December 11th, 2013 | Posted in Article Library | Read More »

Paul Moore: Why Griffith-Jones must step down as FCA chairman

John Griffith Jones ex KPMG, currently with FCA

April 20th, 2013 Trust in UK financial regulation and auditing cannot be rebuilt unless John Griffith-Jones (pictured right) steps down as chairman of the Financial Conduct Authority, writes HBOS whistleblower Paul Moore, who is also calling for a public inquiry into KPMG’s pre-crash audits of the collapsed bank HBOS. The need for such an inquiry was reinforced on 11 April, […]

April 20th, 2013 | Posted in Blog | Read More »

Guest post: The parable of the bailouts

Balloon Horse

October 18th, 2012 By Tom Nicol ‘Then the flying machines started falling from the sky.’ Once upon a time in the Westerlands, people became aware of a developing phenomenon: flying machines were falling from the sky with a great deal more regularity than was previously the case. Understandably, the people became uneasy and started to […]

October 18th, 2012 | Posted in Blog | Read More »

Financial regulation: With Griffith-Jones’ appointment, Britain keeps it in the family

John Griffith Jones chairman KPMG

By Ian Fraser Published: Qfinance Date: June 18th, 2012 I was surprised and exasperated to learn last week that chancellor George Osborne has rubber-stamped the appointment of John Griffith-Jones, the senior partner of KPMG, as chairman-designate of the Financial Conduct Authority, one of the two financial regulators that will take over from the soon-to-be-disbanded FSA. As […]

June 18th, 2012 | Posted in Article Library,Blog | Read More »

John Kay on the illusory nature of bank profits

John Kay

April 16th, 2012 In this speech the economist and author John Kay examined how the financial sector continues to make — or claims to make — returns-on-equity which are way in excess of any reasonable estimate of cost of capital. Kay, a visiting professor at London School of Economics, examined various possible reasons but then focused on […]

April 16th, 2012 | Posted in Blog | Read More »

FSA bombshell changes everything for ex-HBOS directors Crosby, Stevenson and Cummings

Gordon Brown and James Crosby

March 10th, 2012 Yesterday was an extraordinary day in the world of banking. First we had confirmation from Barclays, Lloyds Banking Group and Royal Bank of Scotland that they are doling out obscene sums in bonuses to executives, even as performance flags and share prices plunge. Then we had the ridiculous saga of the IDSA determinations […]

March 10th, 2012 | Posted in Blog | Read More »

Once again, the banks reveal the great miracle of solvency

numbers binary

January 18th, 2012 Ian Fraser’s introduction: This blog was written by Golem XIV, a pseudonym for filmmaker and author David Malone.   The lies which got us to the purgatory we are in are being told all over again, right now, inside every bank in the Western world. Not by accident but on purpose, by men with […]

January 18th, 2012 | Posted in Blog | Read More »

Deloitte and the demise of RBS

John Connolly

By Ian Fraser Published: Sunday Herald Date: December 18th, 2011 (minor edits March 31st, 2013) One of Fred Goodwin’s first acts on being appointed RBS’s chief executive on March 6, 2000 was to sack PWC as auditors and to wheel in his ‘alma mater’, Deloitte & Touche. Ex-insiders suggest this was because Goodwin believed that […]

December 18th, 2011 | Posted in Article Library | Read More »

KPMG and the HBOS whistleblower

kpmg logo

By Ian Fraser Published: Sunday Herald Date: December 18th, 2011 KPMG was already auditing Halifax when the ex-building society merged with Bank of Scotland a decade ago, and the audit firm took over responsibility for auditing HBOS books from September 2001. The firm fulfilled this function until HBOS had to be rescued via a shotgun […]

December 18th, 2011 | Posted in Article Library | Read More »

Big Four finally held to account

Michel Barnier

By Ian Fraser Published: Sunday Herald Date: October 2nd, 2011 The “Big Four” accountancy firms, whose complacency and dereliction of duty were major contributors to the banking crisis that tipped the UK into recession, could be getting their comeuppance at the hands of the European Union. The story of Deloitte, Ernst & Young, KPMG and PWC […]

October 2nd, 2011 | Posted in Article Library,Latest Articles | Read More »

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