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Stay up-to-date with the latest Coronavirus news: Sign up for daily news alerts. A spokesperson for the firm declined to comment on individual cases, but did not dispute the information uncovered by The Times. Brereton and Kjaer, however, resigned to protest that the firm had not gone further in its action against him. He currently remains in the same position at KPMG. That response though also needs to be appropriate and proportionate to the findings in the investigation and to respect the position and welfare of the accused as well as the victim. All of the Big Four remain under scrutiny following multiple allegations of inappropriate behaviour among senior staff.

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SEE VIDEO BY TOPIC: Life of an Auditor (PwC, KPMG, EY, Deloitte)

Two KPMG U.K. Female Partners Had Enough Of Working At a Firm That Protected An Alleged Bully

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The female partners who quit KPMG in reaction to bullying concerns have launched a rival firm. Eos Deal Advisory, named after the Greek goddess of the dawn, will aim to break the 'macho' working culture in the business consultancy industry.

Its founders Maggie Brereton, who was a board member and head of UK transaction services at the accountancy giant, and Ina Kjaer, who was the big-four auditor's head of UK integration in the deal advisory team, set up Eos after resigning from their previous jobs in February. They objected to how KPMG had handled alleged bullying by deal advisory boss Sanjay Thakkar, amid claims the firm sought to protect high-ranking individuals who were close to senior leadership.

Eos will reshape the deal advisory market by employing a diverse range of staff and eschewing the industry's standard practice of long working hours, Brereton told the FT.

She said her staff would not pull all-nighters to meet deadlines, and added: 'The business will allow minorities and women who walked out of the [deal advisory] market to feel like they want to work in it. We will bring proper diversity into this market. It wants to have no gender pay gap from the get-go, in contrast to its major peers where men tend to be paid at least 20 per cent more than women.

Brereton added that Brexit would bring more deals, as a weaker pound meant UK companies looked cheaper to foreign predators and private equity buyers. Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

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Women who quit KPMG over bullying launch rival firm

When Bill Michael was elected chairman of KPMG UK in on a promise of restoring stability to both its finances and brand, he knew it would be a gruelling task. The Big Four accounting and advisory firm had experienced several years of financial decline under his predecessor, Simon Collins, who had been ridiculed for his expensive, blue-sky initiatives. Its culture had become marred by internal politics and bureaucracy. Worst of all, the quality of its audits — the core of its business — had been questioned, with increasing calls in parliament for a new probe into its work for failed bank HBOS.

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A misconduct investigation at services giant KPMG into the use of WhatsApp messages by senior staff has led to the departure of three top executives. Both men will leave at the end of the month. Howarth told the Financial Times he had already resigned and he vowed to appeal the outcome. He said there was no complainant and he did not believe the internal process was fair or would lead to a just outcome. There is no complainant and there were no formal allegations pursued by anyone.

Female KPMG partners who quit over bullying concerns launch rival firm

Your saved articles can be found here. Join now to start saving articles today. One of the most senior partners at a Big Four accounting firm has apologised and been sent for leadership coaching after complaints over the way he spoke to colleagues. KPMG said that Sanjay Thakkar, head of deal advisory in Britain, had been subject to an internal investigation after a formal complaint. The concerns over Mr Thakkar emerged after the Financial Times reported that two senior female partners had resigned in response to the way KPMG handled bullying allegations against a senior male partner, whom it did not name. KPMG confirmed yesterday that the partner in question was Mr Thakkar, 50, one of its strong executive committee in Britain. Subscription Notification.

Bill Michael has a long fight on his hands to restore KPMG UK’s image

A busy year for mergers and acquisitions and the firm's audit practice helped to swell revenues. KPMG has come under scrutiny during the last year after its involvement in audting a number of firms that collapsed, including Carillion and Conviviality. The firm has established new hubs in Leeds and Glasgow, following growth in managed services triggered by major contract wins within the financial services sector. KPMG also completed a major investment in Manchester, where the firm now has more than 1, staff, after launching a national technology innovation hub in the city and hiring specialist staff including data scientists, designers, software engineers, project managers and analysts. The new 12, sq ft space at the Manchester Technology Centre has been designed around collaboration and development, and a similar centre will be opened over two floors of its Canary Wharf HQ in

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Prior to joining the firm, he was with the Financial Services Authority FSA , working on projects including the senior management arrangements systems and control policy, approved persons regime, authorisation processes and rulebook guidance. KPMG convened a disciplinary panel on Friday, following which the decision to remove Howarth was taken, according to reports in the Financial Times. Reports, which have not been confirmed by KPMG, suggest the allegations involve messages sent via the WhatsApp service. Under our process the partner has appealed.

Profits fall at Big Four accountant KPMG despite revenue increasing to £2.4bn

But KPMG evidently sided with a male partner who was accused of bullying last year, and two longtime female partners at the firm had enough. The Financial Times reported :. The departures have caused shock and dismay among staff at the firm, which has already faced a bruising period following a series of accounting controversies that have sparked criticism of its culture and values.

SEE VIDEO BY TOPIC: Presentation by Rohan Rao, Partner - Advisory, KPMG India

The female partners who quit KPMG in reaction to bullying concerns have launched a rival firm. Eos Deal Advisory, named after the Greek goddess of the dawn, will aim to break the 'macho' working culture in the business consultancy industry. Its founders Maggie Brereton, who was a board member and head of UK transaction services at the accountancy giant, and Ina Kjaer, who was the big-four auditor's head of UK integration in the deal advisory team, set up Eos after resigning from their previous jobs in February. They objected to how KPMG had handled alleged bullying by deal advisory boss Sanjay Thakkar, amid claims the firm sought to protect high-ranking individuals who were close to senior leadership. Eos will reshape the deal advisory market by employing a diverse range of staff and eschewing the industry's standard practice of long working hours, Brereton told the FT. She said her staff would not pull all-nighters to meet deadlines, and added: 'The business will allow minorities and women who walked out of the [deal advisory] market to feel like they want to work in it.

KPMG head of FS consulting forced to leave

Maggie Brereton, who was head of UK transaction services and a board member at the Big Four accounting firm, and Ina Kjaer, former head of UK integration in the deal advisory team, have registered Eos Deal Advisory with UK Companies House and started recruiting staff following a six-month gardening leave period. The pair resigned from KPMG in February in protest over how it responded to concerns raised last year about alleged bullying by deal advisory boss Sanjay Thakkar. They had 40 years of experience between them at KPMG and were highly respected as two of its most talented partners. Many feel like they cannot participate in this market. We will bring proper diversity into this market.

Sep 4, - The star female partners who quit KPMG over bullying have In an exclusive interview with the Financial Times, Ms Brereton said they were.

The graduates in Deal Advisory suffer the most, as there is a lack of structural training unlike in Audit. Following this particular meeting, a complaint accused Thakkar of having expressed himself too harshly, and preventing others from speaking, to the extent it suggested his behaviour amounted to bullying. This role is understood to see her working closely with Thakkar on his leadership. For the avoidance of doubt, KPMG does not tolerate bullying of any sort.

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