PracticeAuditNew accounting rules for Lloyd’s of London

New accounting rules for Lloyd's of London

Lloyd's of London is expected to annnounce a radical overhaul of its accounting rules tomorrow.

The insurance market is undertaking a massive review of its structure and a key strategy group is expected to publish its findings tomorrow.

A spokesman for Lloyd’s said none of the proposed changes had yet been made public but reports in today’s press suggested one of the big changes would be to reform the market’s three year accounting period.

The changes are understood to have been prompted by a desire to satisfy corporate investors who now make up more than 80% of Lloyd’s underwriting capacity.

The full proposals are expected tomorrow (Thursday) afternoon.

Related Articles

PwC’s slapped with 2 year audit ban in India

Audit PwC’s slapped with 2 year audit ban in India

19h Alia Shoaib, Reporter
PwC found negligent by US judge over Colonial Bank's $2bn fraud

Audit PwC found negligent by US judge over Colonial Bank's $2bn fraud

3w Alia Shoaib, Reporter
Deloitte South Africa investigated over Steinhoff audits

Audit Deloitte South Africa investigated over Steinhoff audits

1m Alia Shoaib, Reporter
Top 5 audit fines of 2017

Audit Top 5 audit fines of 2017

1m Alia Shoaib, Reporter
PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

1m Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

2m Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

2m Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

2m Alia Shoaib, Reporter