Some 31 per cent of UK respondents to a survey of 758 IT decision-makers by the Economist Intelligence Unit (EIU) on behalf of software supplier Mercury, identified compliance with IFRS as their top priority. This compared with a 16 per cent response from the rest of the world.
Data privacy legislation was highlighted as the top compliance concern worldwide, with anti-money laundering as the second biggest issue, followed by the US Sarbanes-Oxley accounting directive and the Basel II credit risk regulations.
The EIU research suggests that after avoiding regulatory fines, safeguarding brand image is one of the main drivers for responding to compliance issues.
But the survey also revealed the benefits of regulation aren’t going unnoticed: 92 per cent of respondents expect to deliver greater process efficiency, with improvements in risk visibility and financial systems performance also anticipated.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.