In a further blow to the Independent Professional Review – mooted in the Company Law Review as a ‘lighter touch’ audit for companies with turnovers of up to £4.8m – ACCA said it was backing lenders in supporting the current £1m limit.
Earlier this month the ICAEW council withdrew its support for the IPR.Jonathan Beckerlegge, chairman of ACCA’s audit committee, said: ‘We are concerned small firms will be obliged to pay for an IPR and also for any additional assurance which the banks may seek.
‘The logical solution is to keep the audit threshold at a sensible level.’
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
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.