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Image for accountants urged be guard covid 19 fraud

Finance | Accountants urged to be on guard for Covid-19 fraud

As the National Crime Agency reports increased fraud during the pandemic, accountants must be extra vigilant and take steps to help clients falling victim to Covid-19 scams, warns Anne Davis of the Institute of Financial Accountants

17 Jul 2020

Tax | UK overseas territories to make company beneficial ownership details public

Eight of the UK’s overseas territories have committed to introducing publicly accessible registers of company beneficial ownership within the next three years as part of attempts to improve financial transparency, leaving the British Virgin Islands (BVI) as the only significant financial centre still to do so

17 Jul 2020

Tax | World’s millionaires offer extra tax for Covid-19

Over 80 millionaires from around the world, including British film director Richard Curtis, have signed a pledge asking to pay more tax, as their contribution to fund the economic recovery from coronavirus

17 Jul 2020

Business | 649,000 drop in employees on UK payrolls

There are 649,000 fewer employees in the UK on payrolls now compared with March, and vacancies are at their lowest level for almost two decades, but the rate of job decline is slowing, according to data from the Office for National Statistics (ONS)

17 Jul 2020

Business

Companies

Careers

Image for how tech can create faster invoice payment systems

Business | How tech can create faster invoice payment systems

Use dynamic technology to get your customers to pay on time, or even earlier, so you can avoid debt and have enough cash and time to invest in future growth, argues Peasy CEO David Landsberg

17 Jul 2020

Business

Companies

Accountancy Firms

Image for covid 19 retailing slump sees shopfitter collapse

Business | Covid-19 retailing slump sees shopfitter collapse

Howard Smith, associate partner, and Dave Costley-Wood, partner, from KPMG’s restructuring practice have been appointed joint administrators of Cardinal Shopfitting and Systems Ltd, which has ceased trading, putting 170 jobs at risk

17 Jul 2020

Business

Companies

Restructuring & Insolvency

Image for international reporting financial instruments and inter bank rates

Finance | International reporting: financial instruments and inter-bank rates

In July’s international accounting updates, Jeroen Van Doorsselaere considers what investors want from the financial instruments accounting standards and analyses feedback on proposals for the transition from IBOR to alternative reference rates

16 Jul 2020

Finance | FRC ends part of Mitie investigation

The Financial Reporting Council (FRC) has closed one element of its probe into accounting issues at FTSE 250 outsourcer Mitie Group, having concluded there is insufficient evidence, but is continuing its separate investigation into Deloitte’s auditing of the company

16 Jul 2020

Auditing

Corporate Governance

Image for apple wins eu ps116bn tax battle

Tax | Apple wins EU £11.6bn tax battle

The Irish government and Apple have won a landmark appeal at the European Central Court which means the US tech giant will not have to pay Ireland €13bn (£11.6bn) in back taxes, in a major blow to the European Commission’s bid to challenge the tax arrangements of multinationals

16 Jul 2020

Finance | AQI 2020: FRC’s audit rating of top firms

Accountancy Daily has consolidated FRC’s annual audit quality inspection cycle of the Big Four and mid tier firms, find the full details below

16 Jul 2020

Auditing

Corporate Governance

Image for office tax simplification review cgt

Tax | Office of Tax Simplification to review CGT

The Chancellor has asked the Office of Tax Simplification (OTS) to undertake a review of capital gains tax (CGT) and aspects of the taxation of chargeable gains, in relation to individuals and smaller businesses

16 Jul 2020

Finance | Health warning over NHS Wales finances

The Auditor General has sounded an alarm about NHS finances in Wales, after four of the seven health boards once again failed to meet their financial duty to break-even over a three-year period, according to a review of their 2019-20 accounts

16 Jul 2020

Auditing

Corporate Governance

Image for fat tax table tackle holiday hunger

Tax | Fat tax on table to tackle holiday hunger

In the wake of the campaign for free school meals during the summer holidays, RSM’s Chris Etherington looks at what other options are on the menu to tackle childhood hunger

15 Jul 2020

Finance | AQI 2020: a third of PwC audits needed improvements

A third of the PwC audits reviewed by the Financial Reporting Council (FRC) in this year’s audit quality inspection (AQI) were judged to require improvement, with the level of challenge to management on cash flow forecasting highlighted as below expectations

15 Jul 2020

Auditing

Corporate Governance

Image for aqi 2020 deloitte best performer big four

Finance | AQI 2020: Deloitte best performer of Big Four

Deloitte leads the Big Four as having the fewest audits judged to need improvements in the Financial Reporting Council’s (FRC’s) latest review, and is the only firm to have hit the regulator’s target of 90% of FTSE 350 audits meeting the required quality standard

15 Jul 2020

Auditing

Corporate Governance