Accountancy’s watchdog has accused a FTSE 250 company of failing to
adequately declare its intangible assets.
The Financial Reporting Review Panel has released a statement where it
expressed “concern” about the accounting policy of investment company Brewin
Dolphin Holdings PLC.
The FRRP said it was worried about the company’s practice of not separately
recognising customer related intangible assets in the purchase of investment
Quoting IFRS 3, the body said an acquirer needs to recognise intangible
assets separately if it wants to meet the definition of an intangible asset.
“In its pre closing trading update published today the company has announced
that it will implement a change of accounting policy in the forthcoming
financial statements of the company for the period ended 27 September 2009,” the
“Intangible assets representing client relationships will now be recognised
separately from goodwill.”
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned