Lib Dems to hold talks with ICAEW on expenses audit
Political party mulling the idea of the Institute of Chartered Accountants in England and Wales going over its members' expenses with a fine-tooth comb
Political party mulling the idea of the Institute of Chartered Accountants in England and Wales going over its members' expenses with a fine-tooth comb
The Liberal Democrats are gearing up to talk to the ICAEW about an audit of
their expenses after moves to put MPs spending under the spotlight were shot
down last week.
The institute is set to meet with the party’s Chief Whip in the next few
weeks to discuss the issue, an ICAEW spokesman said.
MPs of the political party are thinking about having their receipts studied
by the ICAEW in regular spotchecks under the proposals, which have been floated
to help restore the public’s confidence in the expenses system after a
number
of scandals.
The institute may also help the Lib Dems consider how to introduce other
reforms, such as a ban on using taxpayers’ money to buy furniture,
the
FT reported.
The job would be the latest in a string of high profile government
engagements if the ICAEW come to terms with the Lib Dems. The institute is also
helping the Treasury search for an adviser to value Northern Rock. The institute
was also the venue for the Conservative’s high profile launch of its ambitious
fiscal reform study ‘Making Taxes Simpler.’
‘ [The ICAEW] is happy to work with any political party,’ the spokesman
added.
Further reading:
Howe
unveils tax overhaul plans at ICAEW
Izza
wins tough Northern Rock job
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourcePwC's Australia tax scandal has led to significant changes, including over 300 job cuts and the refusal to share a crucial report with Australian parl...
View articleAccountants and accounting firms play a crucial role in maintaining financial integrity, facing ethical dilemmas and regulatory challenges. Adherence ...
View articleThe creation of an effective sustainability standards infrastructure requires not only high-quality sustainability reporting and assurance standards, ...
View articleChanges will help to make accounting profession more attractive, ICAEW boss says Read More...
View article38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...
View articleFaber has been outspoken about the EU's approach and reinforces the ISSB's approach of a climate transitioning on the "necessary scale" Read More...
View articleEffective corporate reporting on sustainability will prevent greenwashing issues and deliver more data for better implementation of climate policies R...
View articleBy staying informed, seeking expert guidance, and adopting a forward-looking approach, accountants can successfully navigate the new regulatory landsc...
View article