Record fine for Deloitte and audit partner over Aero misconduct

Accounting Standards Record fine for Deloitte and audit partner over Aero misconduct

5y Stephanie Wix, Writer

Record fine for Deloitte and audit partner over Ae...

Deloitte has been fined a record £4m and its partner John Clennett fined £150,000 for misconduct regarding Aero Inventory Read More...

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MTD described as ‘insufficient’ and ‘unrealistic’ via major institute research

Corporate Tax MTD described as ‘insufficient’ and ‘unrealistic’ via major institute research

5y Stephanie Wix, Writer

MTD described as ‘insufficient’ and ‘unrealistic’ ...

Accountants continue to pile pressure on HMRC to backtrack on its proposals for Making Tax Digital - with the consultation period set to end Read More...

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'Clear' tax avoidance guidance for advisers issued by institutes

Accounting Standards 'Clear' tax avoidance guidance for advisers issued by institutes

5y Stephanie Wix, Writer

'Clear' tax avoidance guidance for advisers issued...

Updated guidance on the standards expected of tax advisers and agents have been published by leading UK accountancy and tax bodies Read More...

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CIMA president becomes first chair of 'new' association

Institutes CIMA president becomes first chair of 'new' association

5y Stephanie Wix, Writer

CIMA president becomes first chair of 'new' associ...

Andrew Miskin, president of CIMA, has been appointed as the first chair of the Association of International Certified Professional Accountants Read Mo...

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HMRC and Concentrix discuss ‘early exit’ as NAO launches inquiry

Personal Tax HMRC and Concentrix discuss ‘early exit’ as NAO launches inquiry

5y Andrew Goodall

HMRC and Concentrix discuss ‘early exit’ as NAO la...

Taxman lines up early exit from doomed Concentrix tax credits deal, as HMRC faces intense scrutiny from MPs Read More...

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Making Tax Digital project must be reset, experts tell MPs

Corporate Tax Making Tax Digital project must be reset, experts tell MPs

5y Andrew Goodall

Making Tax Digital project must be reset, experts ...

Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small bus...

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Cashflow statement improvements targeted by watchdog

Accounting Standards Cashflow statement improvements targeted by watchdog

5y Stephanie Wix, Writer

Cashflow statement improvements targeted by watchd...

Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC) Read More...

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FRC expects Brexit narrative within annual reports

Accounting Standards FRC expects Brexit narrative within annual reports

5y Stephanie Wix, Writer

FRC expects Brexit narrative within annual reports

The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted...

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MEP calls for IASB pay cuts

Accounting Standards MEP calls for IASB pay cuts

6y Richard Crump, Writer

MEP calls for IASB pay cuts

Board members of accounting standard setter the IASB have come under fire for the size of their remuneration packages amid scrutiny of how the organis...

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FRC launches complaint against KPMG over audit of Lloyd’s syndicate Equity Red Star

Accounting Firms FRC launches complaint against KPMG over audit of Lloyd’s syndicate Equity Red Star

6y Richard Crump, Writer

FRC launches complaint against KPMG over audit of ...

THE accounting watchdog has launched disciplinary formal complaints against KPMG over its audit of a Lloyd’s of London syndicate Equity Red Star Read ...

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LAPFF urges FTSE 350 companies to disregard the FRC

Accounting Standards LAPFF urges FTSE 350 companies to disregard the FRC

6y Richard Crump, Writer

LAPFF urges FTSE 350 companies to disregard the FR...

The UK’s largest listed companies should disregard the accounting advice of reporting watchdog the FRC, a group of investors have urged chairmen of FT...

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FRC scraps investigation into former Tesco CFO

Company News FRC scraps investigation into former Tesco CFO

6y Richard Crump, Writer

FRC scraps investigation into former Tesco CFO

Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket wa...

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PwC fined £2.3m over Cattles audit

Accounting Firms PwC fined £2.3m over Cattles audit

6y Richard Crump, Writer

PwC fined £2.3m over Cattles audit

PwC has been hit with a £2.3m fine by the accountancy watchdog over its audits of the financial statements of Cattles and Welcome Financial Services L...

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Eight year directorship ban dished up for restauranteur's inadequate records

People Business Eight year directorship ban dished up for restauranteur's inadequate records

6y Richard Crump, Writer

Eight year directorship ban dished up for restaura...

An Aberdeenshire director has been disqualified for failing to ensure her restaurant company kept adequate books and records Read More...

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Director banned for failing to keep proper accounting records

Business Recovery Director banned for failing to keep proper accounting records

6y Richard Crump, Writer

Director banned for failing to keep proper account...

The director of a company set up to market a fuel-saving device has been disqualified for failing to maintain and preserve proper records Read More...

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Assistant accountant handed an 11-year Bankruptcy Restrictions Order

People Practice Assistant accountant handed an 11-year Bankruptcy Restrictions Order

6y Richard Crump, Writer

Assistant accountant handed an 11-year Bankruptcy ...

Assistant Accountant handed an 11-year Bankruptcy Restrictions Order for misappropriating funds Read More...

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Father and son directors disqualified by Insolvency Service

People Business Father and son directors disqualified by Insolvency Service

6y Richard Crump, Writer

Father and son directors disqualified by Insolvenc...

Father and Son directors disqualified for five years and three and a half years for running up large Crown debts whilst trading insolvently Read More...

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Government outlines FRC status as competent authority for audit regulation

Audit Government outlines FRC status as competent authority for audit regulation

6y Richard Crump, Writer

Government outlines FRC status as competent author...

BEIS issues guidance on the FRC’s role as the competent authority responsible for the oversight of audits of public interest entities, following the i...

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Personal insolvency rate drops across Scotland

Regulatory Bodies Personal insolvency rate drops across Scotland

6y Richard Crump, Writer

Personal insolvency rate drops across Scotland

Overall rate of personal insolvencies, which include both bankruptcies and protected trust deeds, has decreased across Scotland Read More...

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Colin: Curiosity killed the cat, but not the watchdog

Accounting Firms Colin: Curiosity killed the cat, but not the watchdog

6y Richard Crump, Writer

Colin: Curiosity killed the cat, but not the watch...

Curiosity killed the cat, but doesn't appear to afflict accounting watchdog the FRC, muses Colin Read More...

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FRC made ‘serious mistake’ by failing to investigate HBOS audit sooner

Accounting Firms FRC made ‘serious mistake’ by failing to investigate HBOS audit sooner

6y Richard Crump, Writer

FRC made ‘serious mistake’ by failing to investiga...

The Treasury Select Committee criticises the FRC for a 'lack of curiosity and diligence' in deciding to not investigate KPMG’s audit of HBOS before th...

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FRC bans two former Connaught finance directors over £4m accounting misstatement

People Practice FRC bans two former Connaught finance directors over £4m accounting misstatement

6y Richard Crump, Writer

FRC bans two former Connaught finance directors ov...

The FRC has banned two former Connaught finance directors responsible for a £4m accounting misstatement at the collapsed social housing maintenance pr...

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Brexit raises questions about future of the FRC's regulatory framework

Audit Brexit raises questions about future of the FRC's regulatory framework

6y Richard Crump, Writer

Brexit raises questions about future of the FRC's ...

The UK’s decision to leave the EU has raised questions about whether the FRC's regulatory framework should change in the future Read More...

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Company boards must focus more on corporate culture, FRC finds

Governance Company boards must focus more on corporate culture, FRC finds

6y Richard Crump, Writer

Company boards must focus more on corporate cultur...

Company boards must pay more attention to instilling the right corporate culture in order to restore trust in business and deliver long-term sustainab...

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FRC raises concerns about FTSE 350 audit market concentration

Audit FRC raises concerns about FTSE 350 audit market concentration

6y Richard Crump, Writer

FRC raises concerns about FTSE 350 audit market co...

Despite the high levels of tendering and rotation, the Big Four’s share of the FTSE 350 market has risen from 96.7% to 97.4%, the FRC finds Read More...

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Six ways Brexit will impact companies’ financial statements

Accounting Standards Six ways Brexit will impact companies’ financial statements

6y Richard Crump, Writer

Six ways Brexit will impact companies’ financial s...

The FRC has highlighted the things directors should consider when preparing their forthcoming half-yearly and annual financial reports post Brexit Rea...

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MPs call on FRC to widen BHS audit probe into PwC

Accounting Firms MPs call on FRC to widen BHS audit probe into PwC

6y Richard Crump, Writer

MPs call on FRC to widen BHS audit probe into PwC

MPs urg the FRC to widen scope of its investigation to cover previous years when PwC audited BHS financial statements and signed off the company accou...

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