our final story, kpmg the financialtime.fter worries over audit quality. does this still minutes rest on friday and they can work from on friday? it rest on friday and they can work from on friday?— rest on friday and they can work from on friday? it seems like it. the are from on friday? it seems like it. they are talking _ from on friday? it seems like it. they are talking about _ from on friday? it seems like it. they are talking about three - from on friday? it seems like it. they are talking about three to i from on friday? it seems like it. i they are talking about three to four daysin they are talking about three to four days in the week in the office. dave sent out messages saying client facing staff should be working at least two days a week at least in offices or at client sites for them and homeworking should be for specific tasks only. i think an interesting point in the story is them saying other auditors, other competitors, the whole industry will be looking at what happens here put up be looking at what happen

i'll introduce the item and turn it over to kpmg and ngo to take your questions.as you know, each fiscal year begins with animportant document and ends with an important document . the board of supervisors adopts a budget for the fiscal year financially for the city and then each year our office works with the department that closes the books on that fiscal year and to report results, actual financial results for the year. we did that in the annual comprehensive financial report and that financial statement which we produced is then audited by external accounting firm . to ensure it. >> the city's financial conditionand to offer you as a governing board for your auditing their findings regarding that . so that's what we're here today to do. it's an opportunity for the auditors to work on their findings for fiscal year ending 2020. and their plans for their work for the fiscal year 2021. which are in the process. with that i will turn it over to andy louis from ngo. >> thank you very much. lisa and i have prepared a short presentation so i'll go aheadand share my s

final story, kpmg expects its staff in the office four days a week after worries over audit quality.an _ the office, is that right? pretty much so. it's an interesting i the office, is that right? pretty| much so. it's an interesting buy much so. it�*s an interesting buy kpmg one of the biggest accounting firms in the world coming just as we have this omicron variant potentially meaning a whole lot more people i did have to start working from home. in scotland and well there�*s already an active work from home order if you can. it may come in the uk, was soon to find out. but they say please come back to work. they are now setting the standard of an absolute minimum back two days in office arguably with a lot more. is a bit of a trend not with quite a few employees with up to take a few employers and flirted with the concept of hybrid working from home from the office where it pleases you. there seems to be a mood for really, we want to back and we can co—operate more, better ideas together, get a better idea what you are up to. that seems to be where employers are going. i�*ll spell

yael selfin is chief economist at kpmg here in london. good to see you. warning signs over the outlook for global growth — have they been right before? yes, i mean, most economies have been crunching our numbers over the last few days and essentially the fear at the moment is not only are you going to have more restrictions that are going to impact the economy, obviously, you also have a change in attitude when are worried about getting the new variant, especially worried about the implication running up about the implication running up to christmas whether they are going to have to change plans because of that and therefore already in december we are expecting deceleration in activity as a result of that and then moving to the start of the year, it will really depend on how restrictions are exhilarated or not depending on the evolution of the pandemic. investors have raced to protect themselves by hedging. trading of put options hitting their highest level in 17 months. are investors adequately protected against the value of stock markets falling further

this, according to a new survey of car executives by kpmg.ke up less than 10% of global sales now, but execs predict that will increase as battery powered vehicles reached the cost of combustion engine vehicles. ev's are not just for mainstream consumers, we are seeing them in the world of racing. there is a new motor sport that is racing to save the planet. >> going fast. this is literally a race for the planet. ♪ >> it is a brand-new motor sport. fully electric, off-road vehicles traveling to remote parts of the planet but do not normally see motorsport or any kind of racing of any kind. the areas we are traveling to, we are able to bring a spotlight to climate change. unlike other international -- that travel the globe -- [indiscernible] they are not seeing the learning part of it. i think we are all excited. >> the scientists onboard will get an opportunity to collect data from each location, even from the oceanic journey from one location to the next, and establish a status quo of where we are at to teach the rest of the world. >> a lot

. ♪ emily: starwood capital kpmg head said he has 30% of net worth in kris crypto curre.to see pressure on commodities. >> i think the fed is completely wrong on inflation because they haven't bought all the steel to fix all the bridges and tunnels and things. that will come with the $1.2 trillion so i'm doing development projects down there, one on the beach up there and i've got to buy steel, i'm going to be competing with the federal government for steel and they're not going to want to buy chinese steel to fix that bridge. so there will be pressure on commodity prices from the stimulus package and it's going to crowd out and make it more expensive for private developers to build anything in the country which will exacerbate the shortage of housing you see today and why things like rents are going up. we have 100,000 apartments today and we're seeing 20% increases in rents. i have been doing this 30 years and never seen anything like it. >> you've complained that amazon is destroying mom and pop retail by using amazon web services to subsidize losses on free shipping.

with me now is yael selfin, chief economist at kpmg uk. thank you forjoining us.d had been widely expected to raise interest rates following those inflation figures yesterday, but that rice was not expected to come, most thought, until the new year. why have they done it now? to most thought, until the new year. why have they done it now?- why have they done it now? to be honest, i think _ why have they done it now? to be honest, i think this _ why have they done it now? to be honest, i think this is _ why have they done it now? to be honest, i think this is probably - why have they done it now? trr ye: honest, i think this is probably the right move because ultimately interest rates take time to influence inflation. they really have a more medium—term horizon. the omicron setback is more of a short—term development. we are expecting relatively week december and weak qi, but for the economy to recover afterwards. therefore these are two separate decisions. given the inflationary pressures we are seeing at the moment, and that inflation will become more permanently