Emeritus Professor of Accounting. Member, UK House of Lords. If with all your effort and might you do not reach the mountain top that is not failure; failure is that you did not even try.
Who audits big companies for mega fees? On paper it is the big four accounting firms - Deloitte, EY, KPMG and PwC. But they use offshore networks. There people without proper control do audits remotely. For bigger profits. Offshoring of audits is not disclosed. archive.ph/MBclD
Big Four’s use of offshore auditors sparks concern from UK accounting watchdogFinancial Reporting Council says it will monitor how the largest firms manage their overseas teams for the next yearwww.ft.comNatWest Bank quarterly pre-tax profits surge 29% to £2.3bn. It received £45.5bn bailout after the 2008 crash. Last year, just ahead of bumper profits, govt sold its stake, appeased the City. All banks are profiteering, closing branches. Must levy windfall tax archive.ph/DqegK
NatWest chief resists calls for tax rises on banksBumper profits from the sector fuel demands for higher UK levieswww.ft.comOfcom and BBC, correct the record: Thames Water CEO misled the public about public ownership. Too many journalists amplify water industry PR. Please follow the advice in this link and lodge your complaint.
Ofcom and BBC, correct the record: Thames Water CEO misled the public about public ownershipThames Water CEO lied about public ownership on the BBC. It is time Ofcom and the BBC corrected the recordweownit.org.ukGianni infantino abandons plans to sell World Cup to private equity and Kushner/Trump family after massive pushback. The plan would have increased his pay packet from £4.5m to £47m. Such people can't protect the game or supporters. Sack the FIFA board.
Infantino abandons plans to sell World Cup profits to private equity following massive pushbackFIFA President Gianni Infantino is abandoning his divisive plan to sell World Cup profits to private equity after receiving pushback from all corners of the soccer worldwww.independent.co.ukSleaze and Corruption Inc. PwC thought leadership reports ‘100 per cent AI generated’ Reports contained fake footnotes, fabricated claims and strange formatting decisions likely resulting from irresponsible AI usage. All to push the firm's products Anything not done for profits?
PwC published AI reports containing hallucinations ‘written by AI’Consulting giant PwC has published reports on AI and electric vehicles that contained fake footnotes, fabricated claims and strange formatting decisions likely resulting from irresponsible AI usage, a...nationaltechnology.co.ukErnst & Young fined £1,800,000 for dud audits of Made.com Did not establish that the business was a going concern, accepted management's assertions. No big accounting firm delivers good audits, act was poodles not watchdogs, fines passed to other clients. Audit itself is a fraud.
Sanctions against Ernst & Young LLP and Ms Julie CarlyleExecutive Counsel to the Financial Reporting Council (FRC) has issued a Final Settlement Decision Notice under the Audit Enforcement Procedure, imposing sanctions on Ernst & Young LLP (EY) and Julie C...www.frc.org.ukShell’s quarterly profits up from $4.3bn to $9.8bn, jump in price of oil/gas due to wars . Customer bills hiked, industries crippled, economies damaged, planet burns from fossil fuels pollution, corporations profit from catastrophies. Another $3bn share buyback. Must levy 100% windfall tax.
Shell’s profits more than double after jump in oil and gas pricesEnvironmentalists renew calls for windfall tax to support households after Q2 earnings rise to almost $10bnwww.theguardian.comThames Water boss says leakage targets 'not realistic'. TW loses 200bn litres of water a year to leaks. Dumps sewage in rivers Chose to pay dividends Exec pay hiked Investment neglected for 37 years Fines announced but waived or deferred Captive customers fleeced
Thames Water boss says leakage targets 'not realistic'Chris Weston said Thames wanted "to do better" but some of its targets were not achievable.www.bbc.co.ukUKHSA report shows 2,877 excess deaths caused by May and June 2026 heatwaves, up from 1,500 last year. Need a fundamental rethink about the design of infrastructure, homes, shops, workplaces. Need maximum workplace temperature laws to protect workers. Voluntary codes won't give enforceable rights.
UKHSA report shows 2,877 excess deaths caused by May and June heatwavesThe 2,877 excess deaths represents a significant increase on the 1,504 excess deaths observed in summer 2025.www.gov.ukPrem SikkaHeat-related deaths are rising in the UK, likely to double this year. Could be tackled by laws specifying maximum temperature for workplaces. Countries such as Spain and Belgium have such laws, give workers enforceable rights. What will the UK govt do? Watch the Minister's reply.
Court upholds CMA findings that Auden Mckenzie and Actavis UK charged excessive/unfair prices for NHS-funded drugs Prices for hydrocortisone tablets rose from less than £1 to £70+ per pack, did not reflect any increase in costs or investment. They bought off competition. No execs penalised
Court upholds CMA findings that firms charged excessive and unfair prices for lifesaving NHS-funded medicineThe Court of Appeal has confirmed that firms broke the law by charging excessive and unfair prices for hydrocortisone tablets over a decade.www.gov.ukUK regulator won't ban CEO and execs of private equity group Cinven from running companies over the firm’s role in an NHS drug price-gouging scandal. Last year, UK Court confirmed £51.9m fine on Cinven. It increased price of NHS drugs by 1,110%. No exec fined. Licence to loot. archive.ph/zzqLv
CMA drops pursuit of private equity executives over price gougingUK regulator decides not to pursue ban against two former Cinven executiveswww.ft.comBurnham urged to increase tax on banks as Barclays’ pre-tax profits for the second quarter soar to £3.3bn, up 31% on the year. Other banks making record profits too, closing branches, cutting staff, and involved in scandals. Chance for the Burnham and chancellor to show whose side they’re on.
Burnham urged to increase tax on banks as Barclays’ profits soarTUC says lender ‘can easily afford to pay more tax’ as it increases half-year bonus pool by nearly 30%www.theguardian.comCare workers should be 'best paid' as Burnham seeks to overhaul social care crisis. Problems multiplied by privatisation of social care. Low wages/investment, profits, poor care. Billions taken out of public purse to profits. Can't address crisis without ending privatisation.
Social Care In England As Unfair As US Healthcare, Says BurnhamThe Prime Minister has said that social care in England is “as unfair as American health care” as he pledged to do what successive governments have...www.politicshome.comTrident renewal central to defence spending, says Andy Burnham. That is more profits for US companies. UK deindustrialization has made it more dependent on US weapons, forces it to appease the US and tyrants like Trump. Taking back control?
Trident renewal central to defence spending, says Andy BurnhamPrime minister to highlight investment in communities as he launches next phase of nuclear submarine replacementwww.theguardian.comAndy Burnham previously called for “aspirational socialism“. Before becoming PM he said for water industry: “Public ownership is absolutely an option ... I would say for Thames Water, that is what should be done.” After becoming PM, it is ‘more public control’. Test coming soon.
Andy Burnham can’t transform the country while sticking to the current fiscal rulesSticking to the 2024 election manifesto and fiscal rules will make it harder for him to deliver the headline promises and the change that he has paraded.leftfootforward.orgHeathrow passengers face higher fares as airport can recover early expansion plan costs. Management of companies made bids for the third runway to boost private profits. But £320m cost of those plans passed to customers who had no say. Shareholders not hit. Heads they win, tails you lose.
Heathrow passengers face higher fares as airport can recover early expansion plan costsCivil Aviation Authority says airport can recoup £320m through higher airline charges, which are usually passed on to travellerswww.theguardian.comCrazy FIFA plan to sell stake in the Football World Cup to a private equity firm founded by Joshua Kushner, the brother of US President Donald Trump's son-in-law Jared. It is about money and bungs, nothing to do with supporters. Get rid of FIFA leaders.
World Cup: Uefa furious at Fifa plan for private investment in tournamentUefa and Prime Minister Andy Burnham criticise proposals from Fifa to seek private investment in its competitions, including the World Cup.www.bbc.co.ukCEO of Anglian Water, England's worst-polluting water company, handed extra £1.3m despite govt ban on bonuses for failing firms. Companies circumvent rules to reward execs for dumping sewage, fleecing customers, neglecting investment. Govt/Ofwat do nothing.
England's most prolific polluters hand water boss extra £1.3m - despite ban on bonuses | LBCLast year, the government delivered new legislation to prevent underperforming water companies from offering bonus payments to their executives.www.lbc.co.ukBarclays Bank is Europe's biggest funder of fossil fuels. Pushing climate change, El nino, crop failures, hunger as profit opportunity, urging investors to speculate on price of food, fertilizer, commodities. Prices and food bills will rise. Profiting from destruction that banks financed.
Barclays spots a chance to profit from extreme weather crisisEurope’s biggest funder of fossil fuels urges investors to see an opportunity in ‘super’ El Niño that could leave millions starvingwww.thebureauinvestigates.comGovts use fiscal rules to push privatisations and public spending cuts. Rules suspended during bank bailouts. Rules are not accompanied by social goals e.g. full employment, reduction in poverty, reindustrialisation, public ownership of vital industries. Must suspend them to rebuild UK economy.
Andy Burnham can’t transform the country while sticking to the current fiscal rulesSticking to the 2024 election manifesto and fiscal rules will make it harder for him to deliver the headline promises and the change that he has paraded.leftfootforward.org