The Financial Reporting Council (FRC) is planning significant revisions to Practice Note 11: The audit of charities in the United Kingdom (PN 11), including a renewed emphasis on reporting matters of material significance, to reflect changes in the regulatory landscape and increased public interest and concern over governance in the sector

There was a 21% rise in cases handled by forensic accountants last year, according to figures from the Network of Independent Forensic Accountants (NIFA), which show demand rising in cases of professional negligence and shareholder dispute, while matrimonial cases account for the highest volume of work, followed by fraud

In Islam t/a Zainub Takeway [2017] TC 05814, the First Tier Tribunal (FTT) allowed a taxpayer’s appeal against daily late filing penalties because of a lack of evidence, but dismissed the appeal against the initial £100 late filing penalty because the taxpayer did not have a reasonable excuse

Anne Scott has been appointed as the inaugural tax chamber president of the First Tier Tribunal (FTT) for Scotland, with effect from 24 April when control of devolved taxes transferred from the Tax Tribunals for Scotland to the newly-created Scottish Tribunals

The Charity Commission has opened a statutory inquiry into the Jack Raine Community Foundation, following serious concerns over financial controls and other regulatory issues at the charity, which runs a boxing club in York amongst other activities

The International Ethics Standards Board for Accountants (IESBA) is consulting on new guidance on professional scepticism and professional judgment, which will emphasise the importance of accountants not simply accepting information at face value, and will be included in a planned revision of its code of ethics for professional accountants due at the end of this year

Following Brexit, MEPs in the European Parliament could demand restrictions on access to the single market by Gibraltar and the Channel Islands if they fail to reform their tax systems, an MEP has said

Debt collection rules due to come into force in October are set to make collecting debt from individuals harder for businesses with higher compliance costs although initial plans to include a copy of the credit agreement with loan chasing letters have been dropped

Despite the fall-out from the banking crisis, the City of London has stretched its lead as the strongest economy in the UK over the past decade, according to research by UHY Hacker Young, which suggests it has grown at double the speed of the national average since the credit crunch