PracticeAuditMore changes for ‘simple’ annual return

More changes for 'simple' annual return

Further changes to ICAEW annual return form will be required to take into account European audit rules next year

The ICAEW may have moved to simplify the annual return form for its members,
but further changes will be required to take into account European audit rules
next year, it has warned.

The ICAEW has trimmed and simplified the annual return, required to be sent
to the institute by member firms from September, following discussions with
member liaison groups. The return will be more straightforward and simpler, with
less information required.

But Paul Simkins, director of the quality assurance department at the ICAEW,
warned that the introduction of the EU’s statutory audit directive would see
further changes made to the return: ‘We will continue to ensure that we keep
things as simple as possible so that our members can get on with doing business
with confidence.’

The move to ease red tape for ICAEW member firms has been welcomed by
practitioners’ association the Society of Professional Accountants.

Read more at
AccountancyMatters

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