TechnologyFSA commits e-reporting plans

FSA commits e-reporting plans

The Financial Services Authority has confirmed its framework for electronic reporting among regulated financial services firms, which is based on extensible business reporting language (XBRL).

Integrated regulatory returns and mandatory electronic reporting will be introduced to simplify and streamline the current paper-based process, while reducing reporting costs to firms. David Kenmir, managing director of FSA’s regulatory services business unit, said it was ‘an important development’ in the FSA’s aim to be an organisation that is ‘more effective and easier to do business with’.

For more, go to www.fsa.gov.uk/regulatory_reporting

And more news…

The Inland Revenue’s £825 incentive for small employers to file payroll returns electronically could be good business. Paul Marshall head of IT at accountancy firm Dean Statham, said the incentive could cover the cost for small companies to outsource their entire payroll function. ‘Very small companies can actually make money on employing a payroll bureau,’ he added. The Revenue’s scheme allows businesses with under 50 employees to claim up to £825, spread over five years.

See www.inlandrevenue.gov.uk/employers for more.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

3d Martin Herron, MHA MacIntyre Hudson
Cybersecurity webinar: how protected are you and your data?

Security Cybersecurity webinar: how protected are you and your data?

7d Emma Smith, Managing Editor
Back to the Future: why financial transformation just hasn’t happened

Technology Back to the Future: why financial transformation just hasn’t happened

1w Workday | Sponsored
GDPR: Don’t forget the human touch

Security GDPR: Don’t forget the human touch

2w Neil Patrick, Director of GRC and Centre of Excellence EMEA for SAP
5 key tech innovations helping accountants transform their businesses

Accounting Software 5 key tech innovations helping accountants transform their businesses

3w Heather Darnell, Founder of Ask the BOSS
HMRC scaling back digital projects to ‘release project capability to EU Exit work’

Brexit HMRC scaling back digital projects to ‘release project capability to EU Exit work’

3w Alia Shoaib, Reporter
What is the role of governance, compliance, and control in financial transformation?

Corporate Governance What is the role of governance, compliance, and control in financial transformation?

4w Workday | Sponsored
Grant Thornton joins with Immersive Labs to increase cyber talent

Career Grant Thornton joins with Immersive Labs to increase cyber talent

1m Lucy Skoulding, Reporter