Companies House reforms: the major changes
Business

Companies House reforms: the major changes

1m Institute of Financial Accountants

Companies House reforms: the major changes

New powers to Companies House which came into effect on 4 March signal a series of sweeping changes to UK company law over the next two years. Jonatha...

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FRC says volume of Tier 2 and 3 audit firms requiring improvement is 'unacceptable'
Accounting Standards

FRC says volume of Tier 2 and 3 audit firms requiring improvement is 'unacc...

5m Accountancy Age

FRC says volume of Tier 2 and 3 audit firms requir...

38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...

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FRC: Financial reporting quality 'vital' amid economic turbulence
Economy

FRC: Financial reporting quality 'vital' amid economic turbulence

8m Greg Noble

FRC: Financial reporting quality 'vital' amid econ...

Continuing econonmic uncertainty serves as a reminder to businesses that consistent, high-quality financial reporting is more important than ever, a F...

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NAO to probe FCA over its effectiveness
Regulatory Bodies

NAO to probe FCA over its effectiveness

10m Greg Noble

NAO to probe FCA over its effectiveness

The review is understood to include examining the FCA’s governance, strategy, and culture and well as its approach to regulating diverse types of firm...

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KPMG sanctioned for ‘rudimentary’ failings over The Works audit
Audit

KPMG sanctioned for ‘rudimentary’ failings over The Works audit

1y Greg Noble

KPMG sanctioned for ‘rudimentary’ failings over Th...

The FRC has said the admitted failings were "rudimentary and should not have occurred" Read More...

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SME accountants at risk of being left behind amid sustainability surge, cautions IFA
Accounting Standards

SME accountants at risk of being left behind amid sustainability surge, cau...

1y John Edwards

SME accountants at risk of being left behind amid ...

Administrative pressures should not deter accountants from upskilling around sustainability, argues IFA chief executive, John Edwards Read More...

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Accountants sceptical as government pledges to regulate umbrella industry
Business Regulation

Accountants sceptical as government pledges to regulate umbrella industry

1y Sam Alberti

Accountants sceptical as government pledges to reg...

Plans to establish a Single Enforcement Body have resurfaced having been reportedly shelved last year Read More...

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Exam cheating can become a ‘big issue’ if not appropriately addressed
Accounting Firms

Exam cheating can become a ‘big issue’ if not appropriately addressed

1y Greg Noble

Exam cheating can become a ‘big issue’ if not appr...

The accountancy industry has been hit by several exam cheating cases over the last few years Read More...

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FRC confirms overhaul of UK corporate governance code
Corporate Governance

FRC confirms overhaul of UK corporate governance code

2y Sam Alberti

FRC confirms overhaul of UK corporate governance c...

The first update to the UK Corporate Governance Code in four years will see the creation of a stronger framework for reporting on internal controls an...

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FRC launches investigation into Lookers audit
Big Four

FRC launches investigation into Lookers audit

3y Aoife Morgan

FRC launches investigation into Lookers audit

Regulatory body has launched an investigation into Deloitte’s auditing practices for the years ending 2017 and 2018 Read More...

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What accountants need to know about AML
Practice Regulation

What accountants need to know about AML

3y Ed Molyneux

What accountants need to know about AML

Money laundering is a growing concern for businesses and governments around the world. Accountants play a crucial role in preventing money laundering ...

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ACCA director: Cost of insolvency regulation unsustainable
Insolvency

ACCA director: Cost of insolvency regulation unsustainable

3y Aoife Morgan

ACCA director: Cost of insolvency regulation unsus...

Association relinquishing RPB authority Read More...

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Accounting bodies call for improved reporting on UN's SDG
Green

Accounting bodies call for improved reporting on UN's SDG

4y Leanna Reeves

Accounting bodies call for improved reporting on U...

The revised version of the Sustainable Development Goals Disclosure (SDGD) demands firms to further include sustainable development risks within their...

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SAIs: strengthening the government audit function internationally
Governance

SAIs: strengthening the government audit function internationally

4y Salema Hafiz

SAIs: strengthening the government audit function ...

SAIs are essential for good governance in any country. In addition to holding their government to account by scrutinising the legality and accuracy of...

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‘Status, scope and skills of internal audit’ must be increased says Chartered IIA
Audit

‘Status, scope and skills of internal audit’ must be increased says Charter...

4y Paul Hanaphy

‘Status, scope and skills of internal audit’ must ...

Major accountancy bodies support new code after string of audit-related business collapses in recent years. Read More...

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Loan Charge reforms backed by independent review and HMRC
HMRC

Loan Charge reforms backed by independent review and HMRC

4y Shannon Moyer

Loan Charge reforms backed by independent review a...

Sir Amyas Morse’s independent review into the Loan Charge includes a series of middle-ground reforms which aim to balance taxpayers’ responsibility al...

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Audit quality: Why do FRC fines keep increasing?
Regulatory Bodies

Audit quality: Why do FRC fines keep increasing?

4y Leanna Reeves

Audit quality: Why do FRC fines keep increasing?

As the value of fines on audit firms issued by the FRC increases, experts reflect on why the regulator’s approach has changed and how this has impacte...

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FRC extends Thomas Cook investigation to more statements audited by EY
Accounting Firms

FRC extends Thomas Cook investigation to more statements audited by EY

4y Chris Jewers

FRC extends Thomas Cook investigation to more stat...

The UK’s audit and accountancy watchdog has announced it will expand its investigation into EY’s auditing of Thomas Cook’s financial statements to inc...

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FRC revises standards in bid to strengthen audit confidence
Accounting Standards

FRC revises standards in bid to strengthen audit confidence

4y Chris Jewers

FRC revises standards in bid to strengthen audit c...

The FRC has issued revised ethical and auditing standards in an effort to strengthen auditor independence and ban conflicts of interest. Read More...

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Treasury committee requests review into ‘broken’ business rates
Governance

Treasury committee requests review into ‘broken’ business rates

5y Chris Jewers

Treasury committee requests review into ‘broken’ b...

AAT specifically referenced in Treasury Select Committee’s report into business rates, which has requested the government to review the system and fin...

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VATGlobal launches European VAT information portal vlearn
Brexit & Economy

VATGlobal launches European VAT information portal vlearn

5y Leanna Reeves

VATGlobal launches European VAT information portal...

To promote regulatory knowledge, the new platform ‘vlearn’ is the first key central repository for EU VAT information for businesses to use themselves...

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FRC launches investigation into EY's Thomas Cook auditing
Big Four

FRC launches investigation into EY's Thomas Cook auditing

5y Shannon Moyer

FRC launches investigation into EY's Thomas Cook a...

Following the collapse of Thomas Cook, the regulatory body has launched an investigation into EY's auditing practices within the travel company for th...

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FRC urged to fine Big Four firms penalties over £10m
Audit

FRC urged to fine Big Four firms penalties over £10m

7y Accountancy Age

FRC urged to fine Big Four firms penalties over £1...

An independent review suggested fines of £10m or over would be appropriate in instances of “seriously poor” audit work Read More...

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FCA fines Merrill Lynch £34.5m over reporting failures
Business Regulation

FCA fines Merrill Lynch £34.5m over reporting failures

7y Accountancy Age

FCA fines Merrill Lynch £34.5m over reporting fail...

This is the first enforcement action against a business by the watchdog over failing to report transactions of this kind Read More...

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Treasury Select Committee report released on Making Tax Digital
Accounting Standards

Treasury Select Committee report released on Making Tax Digital

7y Stephanie Wix , Writer

Treasury Select Committee report released on Makin...

Committee expresses concern about costs to businesses and April 2018 implementation date Read More...

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ACCA and Morison KSi sign global MOU
Accounting Standards

ACCA and Morison KSi sign global MOU

7y Stephanie Wix , Writer

ACCA and Morison KSi sign global MOU

ACCA and Morison KSi have signed a global Memorandum of Understanding (MOU) to raise accountancy profession standards Read More...

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HMRC cuts over 150 offices to reduce running costs
Corporate Tax

HMRC cuts over 150 offices to reduce running costs

7y Stephanie Wix , Writer

HMRC cuts over 150 offices to reduce running costs

Drastically fewer offices for HMRC in the hope to reduce their running costs Read More...

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