KPMG auditor to a ‘suspicious Mauritius-based vehicle,’ linked to Wirecard

October 13, 2020

@peter_IFAMAG reads Twitter so you don’t have to.

KPMG auditor to a suspicious Mauritius-based vehicle, linked to Wirecard. Meanwhile Pensions Minister is exploring ways to use pensions to fund deposits for first time buyers.

Firstly James Hurley raises an interesting question over the government’s new COVID response system.

Would businesses in Tier 2 areas perversely be better off being in a Tier 3 region? Tier 2 restrictions (no household mixing indoors) will hit trade very hard yet these companies can't access the wage and grant support for those forced to close because they are in Tier 3.

— James Hurley (@jameshurley) October 12, 2020

Recorded redundancies in the UK rise, with new ONS data showing total job losses for recent months.

Sharp spike up in unemployment rate to 4.5%, above 1.5 million, after revisions and the headline numbers finally catching up with grim reality. Suggests monthly number in August as furlough unwound around 5%.

Record quarterly redundancy increase pic.twitter.com/vxySh3Aw5O

— Faisal Islam (@faisalislam) October 13, 2020

David Robbins responds to Pensions minister exploring ways to fund first time buyers.

Agree with @stevewebb1 here: raiding pensions risks harming the 1st-time buyers it purports to help.

Did you know @GuyOpperman's idea has a long pedigree? One variant, proposed in 2009 by an MP called Steve Webb, would have let 1st-time buyers access up to 25% of their pension. https://t.co/RC0nvTNbAy pic.twitter.com/02zPbom3rp

— David Robbins (@David_J_Robbins) October 13, 2020

Miles Dilworth points out it may cut retirement pot by £100k.

Pensions minister says he is exploring ways pensions could be used to fund deposits in a bid to help young savers locked out of the property market
Doing so could wipe more than £100k off retirement pot, experts warn https://t.co/7JARRz7iOn pic.twitter.com/Ged1Bwb9XT

— Miles Dilworth (@MilesDilworth) October 13, 2020

Finally, KPMG audited Wirecard linked ‘suspicious’ Mauritius-based vehicle.

FT Exclusive: KPMG, which this year revealed EY missed Wirecard’s fraud, was itself the auditor to a suspicious Mauritius-based vehicle that investigators believe may have been used to siphon off funds https://t.co/8G49m1iQgf pic.twitter.com/Jv1IgQp2Y0

— Financial Times (@FinancialTimes) October 13, 2020