ACCOUNTING REGULATION is “toothless”, according to Accountancy Age readers, after HP’s £5.5bn write-down following its acquisition of Autonomy.
Of the 72 readers surveyed, 69% agreed more assertive regulation would have highlighted any accounting improprieties, while the remaining 31% felt better regulation would not have necessarily solved the problem.
Citi analysts criticised the way financial reporting is policed by the Financial Reporting Council, in response to allegations of disclosure failures at Autonomy, the former FTSE 100 technology business acquired by HP.
They laid some of the blame on the way annual reports and accounts are policed by the Financial Reporting Review Panel, an arm of the Financial Reporting Council.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
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
Board members of accounting standard setter the IASB have come under fire for the size of their remuneration packages amid scrutiny of how the organisation is governed