FRC warns of critical fault lines in NHS audit market
Audit

FRC warns of critical fault lines in NHS audit market

7m Accountancy Age

FRC warns of critical fault lines in NHS audit mar...

The Financial Reporting Council (FRC) has released initial findings from its ongoing examination of the NHS audit market, revealing significant obstac...

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Inside Macy's $151 million accounting error
Business Regulation

Inside Macy's $151 million accounting error

7m Rachael Kennedy

Inside Macy's $151 million accounting error

Macy’s, the iconic retail giant, recently disclosed a significant accounting misstatement involving $151 million in cumulative delivery expenses, span...

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Are you ready for the FRS 102 shake-up?
Accounting Firms

Are you ready for the FRS 102 shake-up?

7m Rachael Kennedy

Are you ready for the FRS 102 shake-up?

The forthcoming amendments to FRS 102 represent one of the most significant changes to lease accounting in years. Effective from January 2026, these u...

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MHA's carbon emissions jump 42% but maintains 2030 net zero pledge
Accounting Firms

MHA's carbon emissions jump 42% but maintains 2030 net zero pledge

7m Accountancy Age

MHA's carbon emissions jump 42% but maintains 2030...

MHA reveals ambitious roadmap to net zero by 2030, while transparent reporting shows the real-world challenges of balancing rapid business growth with...

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Update from across the pond: PCAOB enhances reporting for large accounting firms
Accounting Firms

Update from across the pond: PCAOB enhances reporting for large accounting ...

7m Rachael Kennedy

Update from across the pond: PCAOB enhances report...

The Public Company Accounting Oversight Board (PCAOB) voted 4-1 to require major accounting firms to submit detailed financial statements and standard...

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Are you prepared to tackle ethical dilemmas?
Accounting Firms

Are you prepared to tackle ethical dilemmas?

7m Institute of Financial Accountants

Are you prepared to tackle ethical dilemmas?

When it comes to ethical practices, multiple grey areas call for even greater understanding of the rules. Yet industry feedback highlights the need fo...

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Why are only 20% of businesses prepared for climate-related disasters?
Business

Why are only 20% of businesses prepared for climate-related disasters?

8m Accountancy Age

Why are only 20% of businesses prepared for climat...

A new report from the Association of Chartered Certified Accountants (ACCA) has revealed a concerning lack of preparedness among businesses and organi...

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FASB targets greater transparency with latest accounting standards update
Accounting Standards

FASB targets greater transparency with latest accounting standards update

8m Accountancy Age

FASB targets greater transparency with latest acco...

The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) that mandates new expense disclosures for public compa...

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Jam today or jam tomorrow: managing the trade-offs between corporate growth and corporate sustainability
Corporate Governance

Jam today or jam tomorrow: managing the trade-offs between corporate growth...

9m Peter Spence

Jam today or jam tomorrow: managing the trade-offs...

Businesses are told that they must invest in a growing number of sustainability initiatives, which may impair short-term financial performance while i...

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Complex audits surge to smaller firms, ICAEW report finds
Accounting Standards

Complex audits surge to smaller firms, ICAEW report finds

10m Accountancy Age

Complex audits surge to smaller firms, ICAEW repor...

The Institute of Chartered Accountants in England and Wales (ICAEW) has released its comprehensive audit monitoring report for 2023/24, revealing sign...

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Apple loses €13bn tax battle in EU court ruling
Business Regulation

Apple loses €13bn tax battle in EU court ruling

10m Rachael Kennedy

Apple loses €13bn tax battle in EU court ruling

The European Court of Justice (ECJ) has ruled against Apple in a high-profile €13 billion (£11 billion) tax case, overturning a previous lower court v...

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News from across the pond: SEC tightens auditor oversight
Accounting Standards

News from across the pond: SEC tightens auditor oversight

10m Accountancy Age

News from across the pond: SEC tightens auditor ov...

New PCAOB rules aim to enhance accountability Read More...

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UK regulators launch consultation on the future of digital financial reporting
Business Regulation

UK regulators launch consultation on the future of digital financial report...

10m Accountancy Age

UK regulators launch consultation on the future of...

The Financial Reporting Council (FRC) and other UK regulators have launched a wide-ranging consultation on the future of digital financial reporting i...

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Are you clued up on Basis Reform?
Corporate Governance

Are you clued up on Basis Reform?

10m Nicky Owen, Head of Professional Practices

Are you clued up on Basis Reform?

The next tax payment due for partners (and members of LLPs) is the 31 January 2025, with Basis Period Reform (BPR) this is expected to be higher than ...

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PwC's LCF audit failure should be a lesson to us all
Audit

PwC's LCF audit failure should be a lesson to us all

11m Accountancy Age

PwC's LCF audit failure should be a lesson to us a...

The recent £15 million fine imposed by the Financial Conduct Authority (FCA) on PricewaterhouseCoopers LLP (PwC) marks a significant milestone in the ...

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The Consumer Duty one year on
Accounting Standards

The Consumer Duty one year on

11m Sarah Ouarbya, Partner - Financial Services Consulting at Forvis Mazars

The Consumer Duty one year on

The financial services industry has now had just over one year to embed the Consumer Duty for existing products and should now be in the position to d...

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Audit Reform: A welcome sign of change for mid-tier firms
Accounting Standards

Audit Reform: A welcome sign of change for mid-tier firms

11m Alistair Main, Head of Audit and Assurance and Director at Duncan & Toplis

Audit Reform: A welcome sign of change for mid-tie...

To the delight of many in mid-tier accounting circles, we are now beginning to see significant, wide-ranging steps being taken to reform audit practic...

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IASB proposes new examples to clarify climate risk reporting in financial statements
Business Regulation

IASB proposes new examples to clarify climate risk reporting in financial s...

11m Accountancy Age

IASB proposes new examples to clarify climate risk...

The International Accounting Standards Board (IASB) has taken a significant step to address investor concerns about climate risk disclosure, proposing...

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FRC's Going Concern Guidance consultation demands industry input
Accounting Standards

FRC's Going Concern Guidance consultation demands industry input

11m Accountancy Age

FRC's Going Concern Guidance consultation demands ...

As the October 28 deadline approaches, accounting firms across the UK are being urged to contribute to a critical consultation that could reshape how ...

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EY sanctioned for breaching non-audit services cap fee
Accounting Standards

EY sanctioned for breaching non-audit services cap fee

11m Accountancy Age

EY sanctioned for breaching non-audit services cap...

The Financial Reporting Council (FRC) has imposed sanctions on Ernst & Young LLP (EY UK) for breaching ethical standards related to non-audit serv...

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Do you know what's in the new AI Cyber Code?
AI in Accounting

Do you know what's in the new AI Cyber Code?

11m Rachael King

Do you know what's in the new AI Cyber Code?

Artificial intelligence is no longer a futuristic concept but a present-day reality. As a result, the UK government is taking proactive steps to ensur...

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Third party risk management in pharma and life sciences – you’re only as strong as your weakest link
Business Regulation

Third party risk management in pharma and life sciences – you’re only as st...

11m Nigel Layton, Partner and Head of Pharma & Life Sciences at Forvis Mazars

Third party risk management in pharma and life sci...

In the last few weeks, we have seen both the ransomware attack on the NHS in the news, and more recently, the impact caused by software bug in an upda...

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What did we learn from the FRC's latest audit quality review?
Accounting Standards

What did we learn from the FRC's latest audit quality review?

11m Accountancy Age

What did we learn from the FRC's latest audit qual...

The Financial Reporting Council’s Annual Review of Audit Quality for 2024, released on July 30, 2024, paints a picture of an audit landscape in ...

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How firms can better implement AML compliance
Accounting Standards

How firms can better implement AML compliance

11m Tim Pinkney, Director of Professional Standards at the IFA

How firms can better implement AML compliance

With money laundering costing the UK economy more than £100billion each year according to the National Crime Agency, it is clear that this is an issue...

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The Draft Audit Reform and Corporate Governance Bill – landmark legislation in the making?
Accounting Standards

The Draft Audit Reform and Corporate Governance Bill – landmark legislation...

11m Claudine Morgan, Legal Director and Hannah Gornall, Associate at law firm Charles Russell Speechlys

The Draft Audit Reform and Corporate Governance Bi...

Amongst the 40 laws the government announced in the King’s Speech on 17th July 2024, a draft Audit Reform and Corporate Governance Bill (the Bill) was...

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New superfund guidance reshapes UK pension management
Business Regulation

New superfund guidance reshapes UK pension management

11m Accountancy Age

New superfund guidance reshapes UK pension managem...

The UK’s Pensions Regulator (TPR) has unveiled updated guidance for superfunds, introducing pivotal changes that accountants and financial plann...

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Audit reform back on the agenda, but ‘the devil will be in the detail’
Audit

Audit reform back on the agenda, but ‘the devil will be in the detail’

12m Paul Brehony, partner at Signature Litigation LLP

Audit reform back on the agenda, but ‘the devil wi...

When King Charles delivered the first King’s speech for more than 70 years last November, there was palpable frustration across the accounting profess...

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