Finance directors and auditors are sweating over new rules that will require
them to assess the accuracy of companies’ carbon usage.
Accountants will be required to get to grips with auditing carbon as part of
Businesses that qualify for the CRC will have to pay for their estimated
carbon use before they use it.
But there are issues as to how to classify the charge: as an asset, an expense,
or a tax.
The CRC comes in next year, so some companies will have to work out what they
are doing by the first quarter next year,
Lynton Richmond, audit and assurance partner at KPMG, said: ‘The standard
setters are going to have to put their heads together to help companies with the
accounting reporting of this.
Ian Mackintosh, chairman of the Accounting Standards Board, has said that
standards or principles for CRC are not currently being looked at by the ASB. He
added: ‘We’re waiting for the market to come to us before we look into this.’
Carter Backer Winter has acquired Edwards Financial Services, expanding its financial planning department
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton
Colin responds to the call for 'Darwinism' in accountancy
A new partner, Dermot Callinan, has joined Saffery Champness from KPMG where he was recently the head of the UK private client advisory team