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PCAOB: audit teams failed to pick up risks of material misstatement by banks
The PCAOB published a report Monday detailing how, during 2022 and 2023, several firms’ engagement teams working on audits in the banking sector did not adequately identify the risks of material misstatement ahead of the implosion of several banks, such as Silicon Valley Bank and Signature Bank. As they reviewed the banking sector audits completed…
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Record dismissals at HMRC
Dismissals for gross misconduct at HMRC have reached a five-year high, with 179 workers having their employment terminated in 2023, marking a 43% increase since 2020. The total, obtained through a Freedom of Information Act request, marks the highest recorded in at least five years. Additionally, the Department for Work and Pensions reported 190 dismissals…
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UK workers missed out on £2bn in holiday pay last year, TUC says
According to a report by the Trades Union Congress (TUC), over 1.1 million workers in the UK missed out on their entitled holiday pay last year, amounting to an overall £2bn. TUC general secretary Paul Nowak said: “We all deserve a break from work to spend time off with our friends and family,” highlighting the…
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Deloitte to monitor staff logging in from abroad
Deloitte is intensifying its monitoring of UK employees’ internet activity, particularly those logging in from abroad, as part of a crackdown on violations of working-from-home rules. It is understood that while Deloitte does not track its employees or routinely monitor their locations, the firm is notified when data is accessed remotely from outside of the UK….
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Self-Actualisation Needs: Cultivating a Culture of Appreciation
At the pinnacle of the Total Employee Experience Pyramid are the Self-Actualisation Needs—the desire for personal fulfilment and realising one’s potential. In the workplace, this is achieved through a culture of appreciation that goes beyond standard recognition. It involves creating an environment where employees feel truly valued. Organisations that succeed in this area foster an atmosphere of continuous…
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Self-Esteem Needs: Empowering Growth and Recognition
As employees feel secure and connected, they naturally seek opportunities for personal growth and recognition. The Self-Esteem Needs level of the pyramid focuses on learning and development, as well as recognition and rewards. Providing clear paths for career progression and recognising and rewarding achievements reinforces employees’ self-worth and motivates them to continue excelling and achieve their full…
