“Scandal-prone beancounter KPMG fined £40m after staff cheat on ethics exams and get illegal tip-offs about inspections”

Perhaps one of the TiggerTories first scrutiny and audit and governance efforts should be to check on its own auditors, Grant Thornton, who have also had their share of scandals!

https://eastdevonwatch.org/2018/10/14/eddcs-auditors-grant-thornton-in-the-bad-news-spotlight-again/

https://eastdevonwatch.org/2018/08/29/grant-thornton-eddcs-past-and-present-auditor-in-record-fine-as-auditing-scandal-spreads/

“Tainted KPMG has been fined £40million because staff cheated on ethics exams and were given illegal tip-offs about inspections by regulators.

The accountancy firm was hit with the penalty in the US after the Securities and Exchange Commission uncovered a host of bad behaviour. Accountants at the firm shared the answers to internal training exams, the SEC said, including papers meant to grill them on ethics and integrity.

Staff also hacked the websites used to carry out the tests to make the pass score lower, allowing them to get through even if less than 25 per cent of answers were correct.

And senior employees at KPMG obtained confidential lists of audits being inspected by the American Public Company Accounting Oversight Board.

This information allowed them to secretly alter reports so that the firm was less likely to be found to have carried out poor-quality work.

Jay Clayton, SEC chairman, said: ‘KPMG’s ethical failures are simply unacceptable.’

Steven Peikin, of the SEC’s enforcement division, said: ‘The breadth and seriousness of the misconduct at issue here is, frankly, astonishing.

‘This settlement reflects the need to severely punish this sort of wrongdoing while putting in place measures designed to prevent its recurrence.’ “

https://www.thisismoney.co.uk/money/markets/article-7151099/KPMG-fined-40m-staff-cheat-ethics-exams-illegal-tip-offs-inspections.html

Exmouth Regeneration Board – who IS the chair?

Thursday, 20th June, 2019 9.30 am, Exmouth Regeneration Board

Here it is Councillor Megan Armstrong:
https://democracy.eastdevon.gov.uk/mgMeetingAttendance.aspx?ID=1262

Here it’s “new Chair” Cranbrook Councillor Kevin Bailey:
https://democracy.eastdevon.gov.uk/documents/g1262/Agenda%20frontsheet%2020th-Jun-2019%2009.30%20Exmouth%20Regeneration%20Board.pdf?T=0

Confused?

Swire’s choice for PM not doing too well at present

Guardian satirist John Crace :

“… During the night, medics must have been mainlining Dominic Raab with valium to try to control his anger. It didn’t wholly work, as his neck bulged out of his shirt and the anger vein in his forehead still pulsed, but for once he didn’t actively look like someone who was about to commit GBH. Instead, the air of menace was more latent. The reason he was going to be able to force the EU to renegotiate the withdrawal deal was because they were terrified of him. He could out-psycho anyone. He knew where the bodies were buried. Mainly because he had put them there….”

https://www.theguardian.com/politics/2019/jun/17/more-silence-from-boris-after-rivals-plain-talking-hits-the-buffers?

“Is it time to end our fixation with GDP and growth?”

“Why are we so fixated on economic growth?

Since the mid-20th century, economic growth has taken on a dominant position in the way practically every country arranges its affairs and priorities.

Growth has become shorthand for increasing living standards. It often means more people in work and more companies in business. Its opposite, recession, normally means bankruptcies and redundancies.

And so growth has become a holy grail for governments seeking re-election.

But some people have benefited more from growth than others, despite global gross domestic product (GDP) growing by more than 5,000% since the 1960s. Inequality has boomed in advanced economies since the 1970s, while the mounting risk of catastrophic global warming raises serious questions about the links between growth and carbon emissions.

Yet our economies have become structurally dependent on growth. Finance ministries and central banks pursue economic expansion as the primary goal, with rising GDP providing higher taxes.

Growth as a metaphor for prosperity has become deeply embedded through language. We like to see our children grow, or our gardens. Growth as a fundamentally human movement is life and progress. But there is another end of the metaphor: that growth can be cancerous. …”

https://www.theguardian.com/news/2019/jun/17/is-time-to-end-our-fixation-with-gdp-and-growth?CMP=Share_iOSApp_Other

A glimpse into the size of land banking

“Kier Group will sell its housebuilding and property businesses, cut about 1,200 jobs and suspend its dividend for at least two years in a radical overhaul designed to lower debt and stabilise the business. …

[CEO] Davies said Kier had already received expressions of interest in its housebuilding business, which built 842 units in the six months to end-December, at which time it had a landbank of 4,739 plots. …”

https://uk.reuters.com/article/uk-kier-group-restructuring/kier-to-sell-housing-businesses-cut-1200-jobs-and-suspend-dividend-idUKKCN1TI0IN?

“Painted bike lanes are waste of money, say cycling commissioners”

“The government has wasted hundreds of millions of pounds painting pointless white lines on busy roads and calling them cycle lanes, according to Britain’s cycling and walking commissioners.

In a letter to the transport secretary, Chris Grayling, the commissioners – including the Olympic champions Chris Boardman (Greater Manchester), Dame Sarah Storey (Sheffield City region) and Will Norman (London) – say painted cycle lanes are a “gesture” and do nothing to make people feel safer on a bike. Recent studies have shown they can actually make people less safe, they argue.

“As there are currently no national minimum safety standards for walking and cycling infrastructure, these practices can and will continue wasting public money and failing to persuade people to change their travel habits,” the letter says. …”

https://www.theguardian.com/politics/2019/jun/17/painted-bike-lanes-waste-money-cycling-commissioners?