Business &amp; Accountancy Daily

Image for dna test adds baronetcy high wycombe accountant

Business | DNA test adds up to baronetcy for High Wycombe accountant

Murray Pringle, a retired accountant from Buckinghamshire is set to become a baronet, following the first ever challenge to a hereditary title to be based on the findings of a DNA sample, which established that he rather than one of his cousins is the rightful heir to the Baronetcy of Stichill in the Scottish borders

21 Jun 2016

Law & Guidance

Called to Account

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Business | Number’s up for fake accountant in VAT scam

A London bookkeeper who pretended to be a qualified accountant has been jailed after her attempt to steal £119,898 through fraudulent VAT repayments failed when HMRC became suspicious

21 Jun 2016

Restructuring & Insolvency

Called to Account

Image for new bank account details official receiver

Finance | New bank account details for Official Receiver

The Insolvency Service is publicising a change to the official receiver’s bank account which means anyone handling monies paid in to bankruptcies and compulsory liquidations needs to amend their records before the end of this month

21 Jun 2016

Image for mps propose tougher ceo sanctions over data security breaches

Business | MPs propose tougher CEO sanctions over data security breaches

CEOs of companies which fail to prevent problems with data security following cyber attacks face having part of their pay withheld under proposals outlined by a committee of MPs, which has also called for disclosure of data protection strategies in annual reports

21 Jun 2016

Law & Guidance

AI & Technology

Image for deloitte invests ps25m launch sme accounting and analytics service

Tax | Deloitte invests £2.5m to launch SME accounting and analytics service

Deloitte has become the latest of the Big Four to target the start-up and SME accounting market, with the announcement of a £2.5m investment to launch Propel, a cloud-based service offering combining record keeping and analytics

21 Jun 2016

20 Jun 2016

Image for ifrs 9 lifetime expected losses

Finance | IFRS 9: lifetime expected losses

Dealing with lifetime expected losses and forward looking adjustments with different scenarios is par for the course when complying with IFRS 9, says Christopher Warhurst, associate director of 4most Europe

20 Jun 2016

Finance

Financial Reporting

IFRS

Image for irish finance minister noonan expects ec conclusion apple tax probe

Tax | Irish finance minister Noonan expects EC conclusion of Apple tax probe

Ireland’s finance minister Michael Noonan has claimed that the European Commission could publish the results of its long running investigation into Irish tax rulings agreed with Apple next month.

20 Jun 2016

Tax | European Commission gets closer to agreeing anti-tax avoidance directive

The European Commission is on the brink of agreeing its far-reaching anti-tax avoidance directive, but is waiting on approval of some elements of the package by the Belgian and Czech governments, before it introduces new rules at midnight on Monday 20 June

20 Jun 2016

Image for ifrs 2 share based payment rules amended

Finance | IFRS 2 share-based payment rules amended

The International Accounting Standards Board (IASB) has issued limited amendments to IFRS 2 Share-based Payment, clarifying how to account for certain types of share-based payment transactions

20 Jun 2016

Finance | FRC publishes details of new audit enforcement procedure

The Financial Reporting Council (FRC) has published details of its new audit enforcement procedure (AEP), now that it is the designated competent authority following legislation to bring into effect the EU’s Audit Regulations and Directive (ARD) and has responsibility for investigations and disciplinary cases in relation to public interest entities (PIEs).

20 Jun 2016

Business | Half of millennials expected to quit within a year

Businesses are at risk of losing a generation of potential finance leaders as over half of millennials are expected to quit by 2017, according to latest research from recruiters Hays

20 Jun 2016

Accountancy Firms

Image for oldham athletic says winding order will be kicked touch

Business | Oldham Athletic says winding up order will be kicked into touch

League One football club Oldham Athletic are facing a winding up petition brought by HMRC but insist that the issue has been resolved ahead of a legal hearing due today

20 Jun 2016

Restructuring & Insolvency

Image for pwc promotes record 61 partners

Business | PwC promotes record 61 partners

PwC has announced an increase in new partner numbers for the third year in a row, promoting a record 61 equity partners, with more women, flexible workers and people based in the regions moving into senior positions

20 Jun 2016

17 Jun 2016

Image for eu audit directive ard reacting changing listed audit market

Finance | EU Audit Directive (ARD): reacting to a changing listed audit market

As the EU Audit Regulation & Directive (ARD) is due to come into force, Sarah Perrin ACA gauges opinion about the impact on UK firms and how the audit market for listed entities will be forced to change

17 Jun 2016

Business | Top tips on career progression for FDs and CFOs

There may not be a one-size-fits-all career path for financial professionals, but there are common elements which individuals can apply to their own journey. To climb the ladder, it pays to diversify your offering, says Phil Scott, director of FD Recruit

17 Jun 2016

Accountancy Firms

Image for frc sets out role uk competent authority audit

Finance | FRC sets out role as UK competent authority for audit

The Financial Reporting Council (FRC) has published new auditing and ethical standards following confirmation of its role as the UK competent authority for audit, now that legislation has been brought in to implement the EU Audit Regulation and Directive (ARD), with the new requirements coming into force from 17 June

17 Jun 2016

Corporate Governance

Audit Regulations

Image for awkward husband gives wife reasonable excuse tax penalties

Tax | Awkward husband gives wife reasonable excuse for tax penalties

A taxpayer has won her appeal at a First Tier Tribunal (FTT) against penalties for late submission of partnership and personal tax returns, on the grounds that her husband’s lack of co-operation on financial issues during an acrimonious divorce provided her with a reasonable excuse for the late submissions and for some of the late payment which resulted.

17 Jun 2016

Finance | EU Audit Regulation & Directive (ARD) rules effective 17 June

New UK rules on audit are set to come into force today, with the formal introduction of secondary legislation to bring into effect the EU’s Audit Regulations and Directive (ARD) as part of moves to raise the quality and scrutiny of annual audits and increase competition among audit firms

17 Jun 2016

Audit Regulations

Image for woolf end audit sinecures eu audit regulation approaches

Finance | Woolf: the end of audit sinecures as EU Audit Regulation approaches

Tough audit rotation rules under the EU Audit Regulation and Directive (ARD) will change the landscape of audit and should increase probity, says Emile Woolf FCA, as new rules come into force this June

17 Jun 2016

Corporate Governance

Image for att and ciot launch new route tax qualifications

Business | ATT and CIOT launch new route to tax qualifications

The Association of Taxation Technicians (ATT) and Chartered Institute of Taxation (CIOT) have launched a new streamlined route to the ATT and CTA qualifications, improving the flexibility offered to employers

17 Jun 2016

Accountancy Firms

Image for frc makes minor adjustments isas uk auditors meet ard

Finance | FRC makes minor adjustments to ISAs for UK auditors to meet ARD

The Financial Reporting Council (FRC) is due to release the final International Standards on Auditing (ISAs), now updated from the original draft releases, to reflect the introduction of the statutory instrument bringing into force the new EU Audit Directive & Regulation in the UK

17 Jun 2016

Corporate Governance

Audit Regulations

Image for people news accountancy radius rsm uhy smith williamson

Business | People in the news: Accountancy, Radius, RSM, UHY, Smith & Williamson

The week's latest appointments including new assistant editor at Accountancy magazine, former CEO at Deloitte becomes chairman of Radius, UHY promotes a director to partner, RSM announces new head of construction, Smith & Williamson hires non-executive director

17 Jun 2016