The Financial Reporting Council (FRC) plans to increase its annual budget by 13.5% to £67.9m despite continuing delays to introduction of legislation to create new regulator
The Financial Reporting Council (FRC) plans to update FRS 102 with changes to the accounting rules on revenue recognition and leases to take account of IFRS 15 and 16
The Financial Reporting Council (FRC) has set up an audit and assurance sandbox, a collaborative space for approaching issues facing the audit and assurance industry, to improve audit standards
The current tax system is allowing people to use their pension pots to avoid inheritance tax and should be changed to allow the government to collect more tax, claims the IFS
The Public and Commercial Services Union (PCS) has won a claim in the High Court over the removal of HMRC staff’s right to have their union membership fees deducted at source
The Court of Appeal has sent an appeal over a proceeds of crime demand back to the Crown Court regarding a confiscation order totalling £6.6m in VAT and PAYE fraud
Only 12% of local government audits have been signed off on time, while hundreds of audits have not been completed for earlier years as the backlog grows
The Financial Reporting Council (FRC) has issued useful guidance for companies preparing annual reports stressing the importance of materiality and clarity
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