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Finance | Would a UK Sarbanes-Oxley improve director accountability?

Reform of the UK audit market is long overdue with the tripartite Kingman, Brydon and CMA reviews still not implemented. Katharine Bagshaw FCA asks whether a UK version of Sarbanes-Oxley (SOX) would work with its harsh penalties for lack of corporate oversight

29 Oct 2019

Auditing

Corporate Governance

Tax | Jim Harra takes top job at HMRC

Jim Harra, a thirty plus year tax veteran, is set to take over the top job at the HMRC after acting in an interim role since Sir Jon Thompson moved to the Financial Reporting Council (FRC)

29 Oct 2019

Leadership & Management

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Tax | 1 in 5 law firms ignore money laundering rules

The Solicitor Regulation Authority (SRA) is planning to launch money laundering investigations into 7,000 law firms after they discovered that too many were not complying with anti-money laundering regulations

29 Oct 2019

Consultations

Law and Regulation

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Tax | Cairn Energy faces further delay in Indian tax dispute

FTSE 250 oil explorer and producer Cairn Energy has announced another delay in its long-running dispute with the Indian government over a £1bn tax claim, which will now not be settled before next year

29 Oct 2019

Business | RSM merges French firms into one entity

RSM International has overhauled its regional structure in France, uniting five long-standing separate firms in a full merger, with plans to drive growth following changes to the regulatory environment

29 Oct 2019

Business

Accountancy Firms

Careers

Leadership & Management

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Finance | FTSE 100 strengthens reporting on company values

Greater responsiveness to shareholder concerns and climate change worries, along with the impact of Brexit, featured strongly in FTSE 100 annual reports this year, according to analysis from Deloitte

29 Oct 2019

Finance

Financial Reporting

Law and Regulation

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Business | FRC fines Deloitte audit partner £120,000 over misconduct

The Financial Reporting Council (FRC) has fined Deloitte audit partner Ross Howard £120,000 for misconduct in the audit of the financial statements of Serco Geografix Ltd for the year ended 31 December 2012

29 Oct 2019

Corporate Governance

Called to Account

Image for threat name and shame aggressive tax dodgers not working

Tax | Threat to name and shame aggressive tax dodgers not working

A government commitment to name and shame aggressive corporate tax avoiders has failed to sanction a single company, new figures have revealed

29 Oct 2019

Finance | Big Four audit fees hit £10.95bn as mid-tier squeezed out

The Big Four firms have increased their grip on the UK audit market, reporting a 4.7% hike in total fee income to £10.95bn compared to an 8.1% drop at mid-tier audit firms

28 Oct 2019

Finance | Dividends and distributable profits: part 4

The payment of dividends can be a difficult area with even listed companies falling foul of the law in recent years. In the fourth of eight articles, Croner-i tax and accounting writer David Duvall takes a detailed look at realised profits and losses

28 Oct 2019

Business | Brexit extended even further to 2020

The EU has agreed to the UK request for a Brexit extension to 31 January

28 Oct 2019

Business

Companies

Image for bbc presenter ackroyd loses appeal over ps400k tax liability

Tax | BBC presenter Ackroyd loses appeal over £400k tax liability

The Upper Tribunal has rejected an appeal by TV presenter Christa Ackroyd over her tax status at the BBC, stating that she must pay NICs and income tax on her earnings, as she was an employee not a contractor

28 Oct 2019

Tax | HMRC pulls in extra £10bn from large business tax probes

HMRC has collected almost £10bn in additional tax as a result of investigations into the UK’s biggest companies, with £6bn coming from VAT payments and £2.6bn in underpaid corporation tax, according to research by Pinsent Masons

28 Oct 2019

Tax | SMEs losing out on apprenticeship levy funding

There need to be urgent reforms to the apprenticeship levy, including additional funding, to prevent the loss of up to 75,000 apprenticeships at SMEs

28 Oct 2019

Business | Call for tougher action on ‘unacceptable’ financial services IT failures

MPs are demanding regulators take action to reduce the current level and frequency of IT failures in the financial services sector, which a Treasury select committee report has branded ‘unacceptable’

28 Oct 2019

Business

Companies

AI & Technology

Image for 6 november budget day cancelled

Tax | 6 November Budget day cancelled

The Budget has been cancelled due to the ongoing Brexit discussions and delays, and the PM’s wish to hold a general election by 14 December

25 Oct 2019

Tax | US makes first move towards beneficial ownership register

The US House of Representatives has passed the Corporate Transparency Bill, marking the first stage in a bid to clamp down on shell companies with opaque ownership

25 Oct 2019

Business | Dow Schofield Watts expands into Scotland

Accounting firm Dow Schofield Watts has expanded into Scotland through a partnership with Aberdeen-based Hall Morrice Corporate Finance Ltd

25 Oct 2019

Business

Accountancy Firms

Careers

Image for begbies traynor expands insolvency practice london acquisition

Business | Begbies Traynor expands insolvency practice with London acquisition

Begbies Traynor Group is continuing a flurry of takeover activity, paying over £2m to add top 20 UK insolvency practice Alexander Lawson Jacobs Ltd (ALJ) to its recent string of acquisitions

25 Oct 2019

Business

Accountancy Firms

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HR | People in the news: Wedlake Bell, Cooper Parry, Menzies, Sayer Vincent

In this week’s accountancy career moves, partner appointments at Mazars, Menzies and Quantuma, digital team for Hurst and charity tax specialist rejoins Sayer Vincent, restructuring hire at Accuracy, among others

25 Oct 2019

Business

Careers

Leadership & Management

Image for eu push public country country reporting multinationals

Tax | EU push for public country-by-country reporting by multinationals

Members of the European parliament have adopted a resolution urging member states to agree to new rules obliging multinationals to disclose publicly what taxes they pay in each country

25 Oct 2019