of Chartered Accountants in England and Wales (ICAEW)’s 2007 Enterprise
Survey Report estimates that new legislation carries a price tab of up to
£10.2bn for UK businesses. The regulatory cost to micro businesses is highest in
relation to turnover and their share of the cost of implementing new legislation
is estimated to have increased to 76%.
Financial reporting and corporate governance are particular administrative
burdens for the very big businesses, while overall, employment legislation and
health and safety are seen to impose the greatest administrative burdens.
The survey, mostly of financial directors, confirms UK businesses are looking
to expand and are aware of the opportunities in the global marketplace. However,
they feel constrained, particularly by skills shortages, the regulatory burden
and complicated tax regime and look to the government to foster an environment
where businesses can flourish.
The survey shows a majority of 72% of respondent companies are engaged in
international activities and respondents were increasingly confident about the
impact of continuing globalisation on their business, 44% viewing it positively
– up from 40% in 2006.
Engineering and technology executives have voiced concerns over the government’s industrial strategy and the need to fill the R&D funding and long-term investment gap in a post-Brexit Britain
This year’s Finance Act is 649 pages, the second longest recorded, and highlights the increasing complexity for taxpayers of an ever expanding tax code
The International Integrated Reporting Council (IIRC) and the CIPFA have launched an introductory guide for leaders on integrated thinking and reporting
Accountancy Age is delighted to reveal the shortlists for the 2016 British Accountancy Awards