U.K.

The U.K. Supreme Court rejected lawyers' claims that London isn't the proper place for the Danish tax agency to bring its claim.

The bulk of the cuts will be aimed at the advisory division.

Partners at the Ernst & Young in the U.K. saw their share of profits drop for the first time in three years as the Big Four face economic uncertainty.

The accounting firm will use artificial intelligence to consult on complex matters in tax, legal and human resources.

In a dramatic reversal, just weeks before the 92-year-old was due to stand trial, Bernie Ecclestone agreed to a £652 million tax settlement.

"These findings are damning," Jon Holt, CEO of KPMG in the U.K., said. "It is clear to me that our audit work on Carillion was very bad."

CohnReznick acquired Exiger's construction monitorship and public sector forensic investigations division; DJH Mitten Clarke acquired Revell Ward, Lyon Griffiths, and Haines Watts' Altrincham office; and OD Accountants acquired Probusiness.

The amount shared by the accounting firm's 1,300 U.K. equity partners is broadly the same as last year.

Other Big Four firms are also introducing cuts in the U.K. after a period of over-hiring during the pandemic.

The Serious Fraud Office charged the former CFO as well as three others with inflating the cash in the bakery chain's balance sheets.