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Image for financial controller jailed ps350k fraud

Business | Financial controller jailed for £350k fraud

The former financial controller of Lucion Group who had been with the company for 13 years took advantage of her position to steal in excess of £350,000 from the multi-million pound company

25 Jul 2024

Business

Called to Account

Image for third nhs care board cfos face significant financial problems

| Third of NHS care board CFOs face significant financial problems

One in three CFOs working at NHS Integrated Care Boards have warned that their financial position has ‘deteriorated’ over 2023 as total expenditure for NHS England reaches £153bn

25 Jul 2024

Business

Image for audit firms landed ps33m fines misconduct

Finance | Audit firms landed with £33m in fines for misconduct

A record £33.1m in sanctions was issued to UK audit firms in the last 12 months for failures related to audit work with 11 partners fined

25 Jul 2024

Finance

Auditing

Corporate Governance

Image for mha sees spectacular growth revenue hits ps180m

Business | MHA sees ‘spectacular’ growth as revenue hits £180m

Top 20 firm MHA has reported record results with revenue up by nearly a third to £180m, driven by double digit growth in audit and tax, and strategic acquisitions

25 Jul 2024

Business

Accountancy Firms

Leadership & Management

Image for iasb mulls changes accounting hyperinflation currencies

Finance | IASB mulls changes to accounting for hyperinflation currencies

IASB proposes amendments to accounting rules for translating financial information into hyperinflationary currencies under IAS 21

25 Jul 2024

Finance

IFRS

Audit Consultations

Image for braime hires azets ps120k listed audit

Finance | Braime hires Azets for £120k listed audit

Listed engineering manufacturer Braime Group plc has appointed Azets as statutory audit replacing Kirk Newsholme after more than a decade in post

25 Jul 2024

Finance

Auditing

Corporate Governance

Image for sra hikes compensation fund fee law firms

Business | SRA hikes compensation fund fee for law firms

The Solicitors Regulation Authority plans to increase law firm and individual contributions toward the SRA Compensation Fund for the first time in five years

25 Jul 2024

| DWP hiring 5.9k case reviewers to tackle benefit fraud

With fraud and overpayments reaching £9.7bn through 2023-24 the Department for Work and Pensions (DWP) is investing in technology and staff to crack down on the issue

24 Jul 2024

Business

Image for number frc audit investigations down third

Finance | Number of FRC audit investigations down by a third

Probes into misconduct by audit firms was down from a high of 52 in autumn 2021 to 35 outstanding cases in March 2024

24 Jul 2024

Finance

Auditing

Corporate Governance

Image for father and son duo avoid jail ps150k covid fraud

Business | Father and son duo avoid jail for £150k covid fraud

The bosses of a string of family construction companies flouted covid loan rules by inflating turnover and using dormant companies to secure numerous fraudulent covid loans

24 Jul 2024

Business

Called to Account

Image for accountants las group and goldwyns merge

Business | Accountants LAS Group and Goldwyns merge

City based accountancy firm LAS Group has acquired Goldwyns, with the merged firm taking the Goldwyns name

24 Jul 2024

Business

Accountancy Firms

Careers

Leadership & Management

Image for ifrs smes effective january 2027

Finance | IFRS for SMEs effective from January 2027

Companies reporting under IFRS for SMEs will have two and a half years to prepare for changes to revenue recognition and dividend disclosure rules

24 Jul 2024

Finance

Financial Reporting

IFRS

Image for 830 directors banned cheating covid loans

Business | 830 directors banned for cheating on covid loans

Nearly two thirds of all director bans last year were related to misconduct and fraud related to covid loans although most avoided criminal prosecution

24 Jul 2024

Business

Companies

Restructuring & Insolvency

Image for ai accountancy could create 20k jobs

Business | AI in accountancy could create 20k jobs

The rise in the use of artificial intelligence (AI) across finance teams is accelerating and could create 20,000 accountancy jobs adding £2bn to the economy

24 Jul 2024

Business

AI & Technology

Image for football transfer window dictated profitability rules

Tax | Is the football transfer window dictated by profitability rules?

Dan Reed and Callum Littlefied from RSM delve into the impacts of profit and sustainability rules in football and how it is impacting the transfer market

24 Jul 2024

Tax

HMRC

Tax Planning