Changes to the audit threshold could be implemented as early as next March, the DTI said this week. With consultation now closed on whether the statutory threshold should rise from its current £350,000 level, officials said this week that ministers hope to announce their decision in the New Year. The DTI has received more than 100 responses to its consultation paper. Ministers have been widely expected to set a new level of £1m. However, that could rise after the British Chambers of Commerce, CIMA, the English ICA and the Small Practitioners Association backed a new level of £4.2m. The SPA said this level would save small companies £100m a year. The institute’s audit faculty and the Scots ICA backed a £1m threshold. ACCA said exemption criteria should be widened beyond just turnover.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast