United Kingdom

Competition Market Authority’s review: a broader investigation is needed

Robert Browne, Partner Strategy, KPMG in the UK 

The Competition and Markets Authority (CMA) has been criticised by some for its “feeble” response to the Which? super-complaint against Britain’s biggest supermarkets.

Supermarkets are already tackling Which?’s promotions issue

By Nick Whitfeld, Director, Business Intelligence and Data, KPMG in the UK

Over the past 12 months, Britain’s big supermarkets have been cleaning up their act, addressing flaws in their unit pricing and shifting strategy, away from promotions in favour of everyday low pricing. I suspect this is the reason why Britain’s Competition and Markets Authority (CMA) found little evidence of widespread mispricing as alleged by Which?

Hope for the High Street – A Potential Solution

By Stephen Barter UK chairman of Real Estate Advisory KPMG in the UK

Town centres remain essential hubs for our communities. But the retail core is smaller than it once was, and is typically surrounded by under-occupied buildings and a grim environment.

Audit quality defies standard measurement

By David Littleford, Audit Partner, KPMG in the UK

When we measure something, we take for granted that someone else has already worked out how best to measure it. Audit quality is different.

Learning from the past will raise audit quality

By Hugh Green, Audit Partner, KPMG in the UK

Improving audit quality requires the profession to open up about close calls experienced during the audit process. As individuals we learn from our mistakes, but faced with a regulatory regime that punishes failure and non-compliance, we keep near-misses to ourselves.

Auditors must prove their true value through audit quality

By Jonathan Bingham, Audit Partner, KPMG in the UK

Auditors must resist relinquishing the right to define ‘audit quality’ to regulators. While I support the increased regulatory scrutiny imposed since the financial crisis, there is more to quality than regulation. Audit firms must take back the initiative in driving quality. We need to demonstrate our relevance to audit committees, investors and management.

More transparency means more confidence in audit quality

By Guy Bainbridge, Audit Partner, KPMG in the UK

Audit is a confidence business. Perception of quality is as important as the strength of the process itself. Auditors not only have to do a good job, but be seen to be doing so.

Cyber security skills gap: Don’t chase alphabets

By Serena Gonsalves-Fersch Senior Manager, UK Cyber Academy Lead, KPMG in the UK

One of the biggest challenges currently facing the IT security industry, is skills and staffing. With a projected gap of 1.5 million security professionals by 2020, according to the seventh annual (ISC)² Global Workforce Survey, conducted by Frost & Sullivan, this is a real problem for all concerned.

“Cyber security is an opportunity” say global directors

By Malcolm Marshall, Partner, UK and Global Leader, Information Protection and Business Resilience

Cyber security’s ascent onto the boardroom priority agenda has been nothing short of rocket fuelled. As an example a few years ago the head of cyber security at one of the world’s most respected banks  gave his reflection on board level interest in cyber security: “I’ve spent half of my life trying to get security on the board agenda and the other half trying to get it off”.  Judging by what I heard last week, he’s now unlikely to get his second wish.

Budget 2015: Osborne’s penny surprise is welcome boost

Commenting on today’s Chancellors Budget, Will Hawkley, Head of Leisure at KPMG said: