U.K.

Artificial intelligence will eliminate vast swaths of the repetitive, time-consuming tasks that typically filled up junior staffers' first few years on the job.

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.

Britain's accountants, auditors and advisers are clinging to their jobs, nervous that their negotiating power has sharply dropped.

Profits at the U.K. arm of the Big Four firm declined to £1.3 billion in the year to June 2023, from £1.5 billion in 2022

The more KAMs disclosed in an audit report, the higher the distress level of a company, according to a new study

The Cum-Ex strategy ultimately landed ED&F Man in the middle of one of the biggest financial scandals in modern European history.

The professional services firm is freezing pay bands for auditors at the senior associate level.

EY is revamping two of its internal U.K. management teams, weeks after the company ditched plans to break up its audit and consulting operations globally.

Jan Du Plessis took over Britain's Financial Reporting Council last year following a series of scandals that left investors nursing heavy losses.

At the time of the audit failures, Luceco was the parent of a group of companies producing lighting products and wiring accessories.

EY's U.S. business is embarking on a $500 million cost-saving program over the next 12 months.