Connect with us

Business

JioCinema-Hotstar OTT streaming platform to be called ‘JioStar’?- The Week

Published

on

JioCinema-Hotstar OTT streaming platform to be called ‘JioStar’?- The Week

“Coming soon…” reads the new website “jiostar.com”, the latest entrant into the Disney Star–Reliance Jio Cinema merger drama. For the past few weeks, social media and news channels alike have been following the amusing sequence of events triggered by a techie who approached Reliance to sell “jiohotstar.com” in a bid to fund his studies.

Dubai-based YouTubers and siblings Jivika and Jainam Jain purchased the domain from the unnamed software developer for a much smaller price after Reliance allegedly threatened legal action back in October. However, on Sunday, the Jain siblings offered Reliance the domain free of cost, in a twist that very few saw coming.

ALSO READ | Jiohotstar domain row: ‘If Reliance is NOT interested…,’ say siblings Jainam and Jivika in new offer to media-tech giant

When THE WEEK reached out to the Jain siblings in October, they confirmed the purchase and said that the deal happened over the ICANN-accredited domain registrar, Namecheap Inc.

Advertisement

“If Reliance doesn’t want it, that’s fine too. We’ll continue sharing our updates..” said the siblings in the video posted earlier this week. And it looks like Viacom 18 has taken them seriously.

On Tuesday, several outlets reported the arrival of the new domain “jiostar.com”. With barely any details on the website, and no public statements from Viacom 18 or any other Reliance company for that matter, users on social media are guessing that the new merged OTT streaming platform would possibly be named “JioStar”.

ALSO READ | Jiohotstar domain row: UAE-based kids take over ownership from Delhi app developer

The USD 8.5 billion merger of Reliance Industries and Disney Star received the nod from the regulators, the National Company Law Tribunal (NCLT) and the Competition Commission of India (CCI), back in August. When Reliance reported its second-quarter results, it announced that the merger would be expected to be completed in the third quarter of the current financial year, FY 2024-25.

Advertisement

Source link

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Travel

Abandoned UK airport to reopen for first event in over a decade in ‘last hurrah’ before total overhaul

Published

on

The Manston International Airshow on August 16 and 17

AN ABANDONED UK airport is set to reopen for its first event in over a decade in a “last hurrah” before its total overhaul.

The closed airport confirmed plans to host its first international airshow in over a decade next summer.

The Manston International Airshow on August 16 and 17

2

The Manston International Airshow on August 16 and 17Credit: Wikipedia
Tony Freudmann, director at RiverOak announced plans to invest £800million into the site

2

Advertisement
Tony Freudmann, director at RiverOak announced plans to invest £800million into the siteCredit: Times Media Ltd

A two-day event will be held at Manston Airport as a “last hurrah” for the old runway before it is transformed into an international hub.

Thanet Airfield, which closed in 2014, was cleared to reopen after successfully overcoming a legal challenge earlier this year.

RiverOak Strategic Partners, the company that owns the airfield, announced plans to invest £800million into the site.

Bosses added that the injection of funds will help restore the airport as a commercially successful travel hub for passengers.

Advertisement

However, the extensive renovations needed to transform the site are not expected to begin until early 2026, with completion projected by early 2028.

Tony Freudmann, director at RiverOak, said the airshow, the first at the site since 2013, is a great opportunity for people to see the airport for the last time before it is transformed.

He told Kent Online: “The air show will be the last hurrah for the old airport as it is now, that is how we see it anyway.”

The details of the upcoming Manston International Airshow have yet to be revealed, but aviation enthusiasts will be excited to know that the Belgium-based Bronco Demo Team OV-10B will be featured in the lineup.

Advertisement

The skilled group of pilots are renowned for their performances with the North American OV-10 Bronco – a 1960s aircraft designed for counter-insurgency combat.

Mr Freudmann added: “This will be the first big air show at the airport since 2013.

Abandoned UK airport is ‘weeks away’ from being given go-ahead to reopen – with plans to restart flights by 2028

“People should expect lots and lots of activities and aircraft flying in and out.”

In a post shared online, the external organisers of the show added: “We are thrilled to be able to start sharing with you what will be a spectacular event for Kent a show that we have been working on as a team since August.

Advertisement

“Our sincere thanks must be extended to RiverOak Strategic Partners and Visit Thanet for their support in us being able to launch such an incredibly high-profile show in the Garden of England.”

The Manston International Airshow will take place at Thanet Airfield on August 16 and 17.

It comes after a discontinued UK airport that once offered budget flights to Spain and Cyprus has revealed plans to re-open after a two-year closure.

Doncaster Sheffield Airport shut in 2022 after Wizz Air confirmed it would terminate the majority of its flights from the airport.

Advertisement

The airport, also known as the Robin Hood Airport, is located in Finningley near Doncaster and previously served millions of travellers heading to holiday destinations.

It opened to passengers in 2005 and was one of only two commercial international airports in Yorkshire.

The airport’s reopening is expected to delight nearby residents, who will be eager to once again use the popular travel hub.

Mayor Ros Jones stated that she intends to keep “councillors, residents, and businesses updated” as plans progress to reopen Doncaster Sheffield Airport.

Advertisement

She added: “The procurement of an operator is in its final stages of due diligence, we have regular meetings with investors, businesses and airlines.

“We have submitted a Statement of Need to the Civil Aviation Authority (CAA) in relation to re-establishing our airspace, this will soon be publicly available via the CAA website, I cannot emphasise enough the importance of retaining our airspace, our MPs continue to engage with the Aviation Minister in relation to this.”

Source link

Advertisement
Continue Reading

Business

Entrepreneur epistemology

Published

on

Entrepreneur epistemology

Unlock the Editor’s Digest for free

“The DNA of entrepreneurs is made up of dozens of interlocking variables,” says HSBC in a Thursday report. If by variables the bank means A, C, G and T, that specific conclusion is unassailable.

What it doesn’t do, however, is fulfill HSBC’s stated goal of shining “a brighter light onto what makes a global entrepreneur so special”.

Advertisement

For that, its Global Private Banking division hired Ipsos UK to interview 1,800 wealthy business owners. These manhours were dedicated to uncovering “key findings” such as “entrepreneurs are very optimistic” even as they “also worry about the state of the world”. 

There is at least one actual surprise, however. The UK, despite all the doom and gloom, is still a “top-three global destination for wealthy business owners” next to Switzerland and the US. 

The UK, HSBC writes, is “as popular a destination as the US, France or Singapore for business owners contemplating a transfer of some or all of their personal wealth”.

In fact, almost 60 per cent of the UK entrepreneurs the bank interviewed are “optimistic” that their personal wealth “will grow in future” — more than anywhere else.

Advertisement

On first glance, this seems to be a rather shocking rebuke to the headlines about chancellor Rachel Reeves’ tax-raising, apparently entrepreneurenraging Budget.

Alas, Ipsos finished conducting its quantitative fieldwork and its interviews three and five months before the Budget was released.

It’s possible that what really makes UK entrepreneurs special is their ability to complain to the press without actually changing their views. In that case, the UK may still have its spot near the top of the wealth-magnet rankings. Either way, we sympathise with Ipsos and HSBC. Timely reporting is hard.

Source link

Advertisement
Continue Reading

Money

Where Is Menendez Brothers’ Therapist Dr. Jerome Oziel Now?

Published

on

What is the Average Credit Score in the UK

The Man Behind the Confession: What Happened to Dr. Jerome Oziel, the Menendez Brothers’ Therapist?

In the annals of American crime, few cases have captivated the public as deeply as the Menendez murders. Lyle and Erik Menendez’s brutal killing of their parents, Jose and Kitty Menendez, shocked the nation and turned into one of the most highly publicized criminal trials of the early 1990s. Now, with Netflix’s latest release, Monsters: The Lyle and Erik Menendez Story, the chilling details of this family tragedy are once again under scrutiny. Beyond the brothers and their victims, there was another key figure who played a dramatic role in shaping the Menendez narrative: Dr. Jerome Oziel, Erik’s therapist. Oziel’s presence in the case, from the confessions to the courtroom, remains an essential—if controversial—part of this story. Here’s a closer look at Oziel’s relationship with the Menendez brothers, his impact on the case, and what has become of him today.

Jerome Oziel

The Confession: Did Erik Menendez Admit the Murder to Oziel?

Dr. Jerome Oziel’s association with the Menendez brothers began in 1988, when the family turned to him after Lyle and Erik were caught burglarizing homes in Calabasas, California. Jose and Kitty Menendez sought help for their troubled sons, hoping Oziel could address what they viewed as signs of delinquency. For a time, Erik saw Oziel as his therapist, confiding in him. But the relationship took a dark and pivotal turn after the murder of the Menendez parents in August 1989.

On Halloween of that year, Erik, who was clearly struggling with the weight of his actions, reached out to Oziel with an urgent request for a session. According to court records, they met at Oziel’s Bedford Drive office in Beverly Hills. The session extended beyond the confines of the office, spilling into the surrounding streets as they took a walk in a nearby park. There, Erik confessed to the murders, describing the planning, the execution, and the fabricated alibi he and his brother had constructed.

Advertisement

Oziel documented the confession meticulously, detailing how Erik recounted the crime and the reasons behind it. In dictated notes from this session, Oziel later described how Erik had revealed “in detail the planning and execution of the crime, including (the brothers’) fabricated alibi defense.” This confession would become central to the case against the brothers. Not long after, on November 2, both Lyle and Erik met with Oziel to discuss the motive behind the murder of their parents, diving into the psychological and emotional factors that led them to such a horrific act.

One critical decision Oziel made was to record a December 11 session with the brothers, creating an audio record of their discussions. This tape would prove both invaluable and controversial, and it became the subject of a prolonged legal dispute over its admissibility in court. Oziel’s recordings and notes would play a decisive role in the brothers’ prosecution, as well as in the public’s understanding of the gruesome crime.

The Tapes: How Oziel’s Recordings Influenced the Case

The recordings Oziel made of the Menendez brothers’ confessions became a flashpoint in the legal proceedings. In March 1990, a dramatic turn of events took place when Judalon Smyth, a former patient of Oziel and a woman with whom he was having an affair, approached the authorities and disclosed the existence of these tapes. This bombshell revelation led to the tapes being seized by law enforcement, and shortly thereafter, the Menendez brothers were arrested.

The legal battle that followed centered on whether the recordings were admissible in court, with the defense arguing that they were protected under therapist-patient confidentiality. The question reached the California Supreme Court, which ultimately ruled in August 1992 that two out of four tapes were indeed admissible. This decision was instrumental in the trial, providing evidence that supported the prosecution’s case and giving insight into the brothers’ motives and mindset at the time of the killings.

Advertisement

Oziel’s role in the trial was complicated and contentious. During the first trial, he testified as a key witness for the prosecution, describing Erik’s confession in vivid detail. However, Oziel’s credibility was subjected to a grueling cross-examination that focused largely on his personal life, including his affair with Smyth. This affair cast a shadow over his testimony, with the defense attempting to depict him as an unreliable and compromised witness whose own conduct undermined his professional ethics.

By the time of the second trial, Oziel’s direct involvement had waned—he did not testify. However, the tape recordings he had made were still played in court, cementing his influence in the case even in his absence. The recordings, along with the complex web of personal and professional conflicts that surrounded Oziel, left an indelible mark on the Menendez case, turning him into one of its most controversial figures.

Life After the Trial: Oziel’s Fall from Grace and New Beginnings

The fallout from the Menendez trial took a heavy toll on Dr. Oziel’s professional life. In 1997, the California Board of Psychology moved to revoke his license, citing several ethical violations, including breaches of patient confidentiality and allegations of inappropriate relationships with female patients. Oziel denied the accusations, maintaining that the revocation of his license was not related to any wrongdoing. In a statement given in 2017, he claimed, “I did not surrender my license due to the accusation, which implies I gave up my practice because I did things alleged in the original accusation. … No agency ever found I did a thing that was improper or wrong.”

Oziel suggested that his decision to step away from clinical psychology was motivated by a new career opportunity. He relocated to another state and focused on a business venture that he described as “highly lucrative,” eventually leaving behind the world of therapy in which he had once thrived. This shift marked a significant departure from his earlier life in Beverly Hills, where he had been a recognized figure in psychological circles, specializing in phobias and sex-related disorders, and had even taught at the University of Southern California.

Advertisement

Today, Oziel resides in Albuquerque, New Mexico, where he has reinvented himself as a marital mediator, going by the name Jerry Oziel. He now works at the Marital Mediation Center, where he applies his expertise in psychology to help couples resolve conflicts in their marriages without resorting to divorce. The center’s mission focuses on conflict resolution as an alternative to separation, offering couples a chance to repair their relationships through structured dialogue and mediation.

Despite his changed life and new career path, the shadow of the Menendez case continues to follow Oziel. The Netflix documentary on the Menendez brothers, released in October 2024, revisits his role in the case. Although he declined to participate in the documentary, his impact on the story remains undeniable. His involvement as the therapist who first heard Erik Menendez’s confession transformed him into a central—and polarizing—figure in the Menendez saga.

Where Is Dr. Jerome Oziel Now?

Though Dr. Jerome Oziel no longer holds a license to practice psychology, he has continued to leverage his background in human behavior. Now known as Jerry Oziel, he has focused on helping couples navigate marital issues. In Albuquerque, he lives a quieter life, removed from the high-profile cases that defined his earlier career.

Oziel’s academic journey began at Arizona State University, where he received his doctorate in clinical psychology in 1972. Following stints in South Carolina and eventually California, he established himself as a psychologist in Beverly Hills, becoming known for his work on phobias and sex-related disorders. His career was on a successful trajectory until the Menendez case thrust him into a maelstrom of media attention, ethical scrutiny, and ultimately, professional ruin.

Advertisement

The Menendez case remains one of the most haunting and complex trials in American criminal history, and Oziel’s role in it has ensured that his name remains intertwined with the story. As new audiences revisit the case, Oziel’s contributions—and controversies—continue to provoke questions about the limits of confidentiality, the ethics of therapy, and the personal toll of high-profile legal battles. In this way, Dr. Jerome Oziel remains a specter in the saga of the Menendez family, his influence etched into the legacy of a case that has gripped the American public for decades.

Source link

Advertisement
Continue Reading

Business

Bank of England boss to say UK must ‘rebuild relations’ after Brexit

Published

on

Is Reform UK's plan to get Farage into No 10 mission impossible?
Getty Images Andrew Bailey, Bank of England governor, talking at a press conference after the Bank cut interest rates on 7th NovemberGetty Images

The UK must “rebuild relations” with the EU “while respecting the decision of the British people” who voted to leave in 2016, the Bank of England’s governor will say later.

Andrew Bailey’s Mansion House speech to investors will mark some of his strongest comments yet on Brexit, saying one of its consequences has been weaker trade.

He has previously avoided commenting on the topic because of the Bank’s independence from Westminster politics.

“As a public official, I take no position on Brexit per se,” he will say. “But I do have to point out consequences.”

Mr Bailey will say the changed relationship with the EU has “weighed” on the economy.

Advertisement

“The impact on trade seems to be more in goods than services… But it underlines why we must be alert to and welcome opportunities to rebuild relations while respecting the decision of the British people.”

Mr Bailey will also say the UK should not focus “just on the effects of Brexit”, warning about the “broader fragmentation of the global economy”.

His Brexit comments go much further than he previously has on the topic. Last November, he said the decision had “led to a reduction in the openness of the UK economy”.

Assessing the impact of the UK’s decision to leave the EU on the economy has been tricky given the multiple economic shocks in recent years.

Advertisement

The Office for Budget Responsibility and other independent analysts estimate the economy is 4% smaller over the past 15 years as a result.

Goods trade, especially in food and farm exports, has been especially hit by the imposition of new trade barriers. Trade in services, such as banking, has done better than expected, however.

The government remains opposed to rejoining the EU, but Prime Minister Keir Starmer and some EU politicians have said there could be a better relationship.

Spain’s Finance Minister Carlos Cuerpo told the BBC: “We need to be positive here and optimistic that a better deal can be actually closed on that front.”

Advertisement

A UK government spokesperson said: “We are committed to resetting our relationship with our European partners… and improving our trade and investment relationship.”

Mr Bailey’s Mansion House address will come alongside a speech by Chancellor Rachel Reeves, who will talk about her plans to shake up the UK pension system in a bid for growth.

She wants council pension pots to be merged so they can make bigger investments to generate higher returns, a move criticised as risky by some.

“The UK has been regulating for risk, but not regulating for growth,” she will say.

Advertisement

The annual event comes as the government also faces criticism from businesses for holding back growth through tax raises, which Reeves has said are necessary to “properly fund” public services.

‘Bottom line’

Mr Bailey’s speech will go on to address the wider UK economy and its lack of growth.

“Bottom line, it’s not a good story,” he will say, describing how productivity has fallen since the 2008 economic crash and has not recovered since.

Advertisement

He will explain that the UK is not alone in having this problem, which he says also affects other parts of Europe, but notes that the US has “a better story to tell”.

Mr Bailey will also echo Reeves’ concern that the UK pension system is “fragmented” and requires “heavy lifting” to fix it.

Former Chancellor Jeremy Hunt has said there was “much to welcome” in Reeves’ suggested reforms, though shadow chancellor Mel Stride has added that Conservatives will be “looking closely at the detail”.

Source link

Advertisement
Continue Reading

Money

Viewers left in tears over heart-warming ad that is ‘better than John Lewis’

Published

on

Viewers left in tears over heart-warming ad that is 'better than John Lewis'

AS soon as the Christmas advert season began, all eyes were on John Lewis to see what it had in store.

But it seems another retailer has stolen viewers’ hearts this year.

Tesco's 2024 Christmas Advert reflects on the effects of loss during the festive period

1

Tesco’s 2024 Christmas Advert reflects on the effects of loss during the festive period

As the Christmas ads start rolling, most of us begin to start getting into the festive spirit – and we also tend to shed a tear or two.

Advertisement

John Lewis has become well-known for its emotional and heartwarming Christmas adverts.

But the real tear-jerker this year isn’t the usual suspect, with some people saying Tesco‘s three minute advert is far better than the John Lewis Campaign.

The ad follows a man called Gary who is trying to navigate Christmas while mourning the loss of his grandmother.

It touches on how the festive period can cause conflicting emotions for many people who are missing a loved one.

Advertisement

The soundtrack for the ad is Melancholy Hill by Gorillaz, and it opens with Gary visiting his grandfather, then pans to a flashback of him visiting his late nan.

He gets up to leave, and at the door his grandfather hands him a packet of Tesco gingerbread men.

Taking a bite of one of the biscuits, Gary’s world transforms into a magical Christmas landscape where sugary treats burst out of every corner.

But when he thinks about the absence of his grandmother, his festive dreamland begins to crumble.

Advertisement

So, Gary decides to rekindle a Christmas tradition he had with his grandmother by sitting with his grandfather and building a gingerbread house.

The pair are seen to “rebuild” their lives after the loss, as the ad finishes with the entire family sitting down and having Christmas dinner together.

The table spread features glimpses of Tesco’s festive range including a turkey and pigs in blankets.

John Lewis Christmas advert 2024 – tearjerker ad with iconic 90s song as sister desperately searches to find perfect gift

Becky Brock, group customer director at Tesco, said: “We want our Christmas campaign to connect people with the joy of moments that help feed our Christmas spirit and showcase how Tesco can help you do just that.

Advertisement

“We appreciate that even if you love Christmas, there can be
little things that eat away at your Christmas spirit as well as things that help to feed it.”

People went crazy for the short film on social media, celebrating its ability to connect with viewers.

One person wrote on X: “The Tesco Christmas ad is AMAZING!”

Another person said: “I’ve just watched the Tesco Christmas ad and it’s completely correct and has got the tone right.”

Advertisement

While someone commented: “Tesco Christmas ad is all about the spirit of Christmas. Normal people, normal lives.”

A fourth warned: “Check it out, it’s the best I’ve seen so far – but I dare you not to shed a tear.”

The usual tear-jerker on the block, John Lewis, has faced much less praise this winter season.

Another X user wrote: “@JohnLewisRetail That was a bad Christmas ad, I’m sorry but Tesco wins it this year.”

Advertisement

John Lewis is famous for pulling on the heart strings at Christmas time, previously spending as much as £7 million on a single campaign.

It spent almost that much this time round, and is classed as the biggest advertising event of the year.

In its two minute long advert for 2024, named The Gifting Hour, the story line follows a woman’s urgent hunt for a gift for her sister.

For the first time in 17 years, the John Lewis store actually features in the mini-film.

Advertisement

The ad, created by Saatchi & Saatchi, follows the woman, named Sally, rushing around the John Lewis shop floor.

Then she is transported down memory lane, and she tries to navigate childhood memories and pick up clues on what to buy her sister.

When she finds the perfect gift she reenters reality and find its already wrapped.

She then heads outside and shares a special moment with her sister, followed by the strap line: “The secret to the perfect gift? Knowing where to look.”

Advertisement

John Lewis purposefully leaves the contents of the gift a mystery to emphasise sentiment over material value.

However the heart-warming message fell short, with one person posting on X: “That’s it, Christmas is ruined. The John Lewis ad is quite comfortably the worst one yet.”

Another said: “Very disappointed, I wanted the John Lewis Christmas ad to make me cry and give me a sense of family and home.

“I have loved all previous ads because what sets them apart is they never actually focused on shopping, this year you have.”

Advertisement

Some viewers weren’t impressed by the song choice for this year’s ad.

One person wrote on X: “Where’s the slow emotional cover we usually get?”

Despite usually using a cover version of a famous song for its adverts, the campaign opts for The Sonnet by The Verve sung by the original band members.

It serves as a nod to the 90s, which has had a major resurgence this year.

Advertisement

It has also been left open to the audience as John Lewis searches for a coverstar on TikTok – and legendary lead singer of the band Richard Ashcroft will help pick the new star.

The winner will record and release their own track with BMG and a version of the advert with their rendition will be played on TV on Christmas Day. 

They will also win a £3,000 shopping spree and tickets to a Richard Ashcroft headline show in 2025. 

Proceeds from the single will be donated to the John Lewis Partnership’s Building Happier Futures programme, which helps care-experienced people. 

Advertisement

This year, the advert is the final instalment of a three-part series, to relaunch the chain’s Never Knowingly Undersold pledge.  

It will air first on John Lewis’ social media platforms at 8am tomorrow, but MyJohnLewis members can watch it from 8am on the John Lewis website. 

It will be broadcast on TV during the ad break for Coronation Street on ITV at  8.45pm on Friday November 15. 

How to save money on Christmas shopping

Advertisement

Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping.

Limit the amount of presents – buying presents for all your family and friends can cost a bomb.

Instead, why not organise a Secret Santa between your inner circles so you’re not having to buy multiple presents.

Plan ahead – if you’ve got the stamina and budget, it’s worth buying your Christmas presents for the following year in the January sales.

Advertisement

Make sure you shop around for the best deals by using price comparison sites so you’re not forking out more than you should though.

Buy in Boxing Day sales – some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25.

Delivery may cost you a bit more, but it can be worth it if the savings are decent.

Shop via outlet stores – you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts.

Advertisement

They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor.

Others weren’t impressed by the lack of men visible onscreen throughout the John Lewis advert.

An X user wrote: “No mention of men in the advert. According to John Lewis men don’t shop or have families.”

On GB News, Dr Renee Hoenderkamp complained: “There’s no men in it. There’s no brothers, no husbands, there’s no grandpas – it’s all women.

Advertisement

“Christmas is about family, which includes men and women.”

But other viewers saw it as celebrating women.

One X user said: “If you have just watched the John Lewis advert and have sisters you will totally get it – I sobbed.

“I am blessed to have the most amazing sisters and best friends”.

Advertisement

Another said: “The John Lewis Christmas ad is a celebration of women and it’s, quite frankly, brilliant!”

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

Source link

Advertisement
Continue Reading

Business

Ex-BDO auditor banned for 20 years for faking signatures and documents

Published

on

Ex-BDO auditor banned for 20 years for faking signatures and documents

Stay informed with free updates

A former auditor at BDO has been given a 20-year ban by the regulator for faking electronic signatures and evidence and filing false company accounts.

The Financial Reporting Council, which oversees the UK accountancy profession, said Amanda Nightingale had “acted with sustained dishonesty over a five-year period in relation to a large number of audits” in her role as a senior manager at BDO’s Gatwick office.

Advertisement

The regulator said it had also issued “proposed formal complaints” against BDO and two of its former partners in August, alleging misconduct as part of its wider investigation into how Nightingale was able to carry out such “extremely serious” actions for so long.

Jamie Symington, FRC deputy executive counsel, said: “By deliberately signing audit reports without the relevant audit engagement partners’ knowledge, Nightingale’s conduct has risked severely undermining confidence in the audit profession and BDO.”

The findings are another blow for BDO, the world’s fifth-largest accountant, which was recently criticised by authorities in both the US and UK for having unacceptably high levels of errors in its audits of companies.

The FRC said: “On numerous occasions between 2015 and 2019, the conduct of Nightingale fell significantly short of the standards reasonably to be expected . . . and has brought, or is likely to bring, discredit to herself, BDO and to the accountancy profession.”

Advertisement

The regulator said Nightingale, who was unavailable for comment, had been banned from doing any accountancy work and excluded from the Institute of Chartered Accountants in England and Wales for 20 years.

BDO said its partners discovered Nightingale was “operating without proper authority” five years ago. When confronted, she “left the firm before her impending dismissal for gross misconduct” and the firm then reported its findings to the FRC and conducted an internal probe that reported to regulators and senior managers in February 2021.

The FRC said Nightingale had “caused or permitted auditor’s reports to be issued without approval” including by “inserting electronic copies” of other people’s signatures. It said she also filed accounts at Companies House without authorisation and using faked signatures, created false documents, falsified audit evidence and deceived colleagues and clients.

But it said there were mitigating factors: she was under extra strain due to a seriously ill family member, she did not gain financially from her misconduct — apart from it helping her to keep her job — and she has apologised for her actions.

Advertisement

As a result, and having “taken into account her financial circumstances”, it decided not to fine Nightingale, who paid £10,000 towards its costs.

Source link

Continue Reading

Trending

Copyright © 2024 WordupNews.com