The October 2012 issue of Accountancy magazine is now available in iTunes and can be downloaded through the app.

Highlights this month include an in-depth review of the complex world of shadow banking, focusing on plans to regulate this increasingly disparate and influential banking sector.

Continuing our popular series of sector reports, the construction sector is under the spotlight this month, assessing current tax and accounting pressures on the building trade, from changes to capital allowances to the pressures of lease accounting and reporting. Despite the tough economic climate, the big builders have been reporting healthy profits, perhaps a tentative sign of an improvement in new starts and maintenance projects.

From a tax perspective, Andrew Gotch of CIOT considers the fallout from the introduction of universal credit which will hit small business with a restrictive PAYE reporting procedure. Meanwhile, Bill Dodwell, head of tax policy, Deloitte, questions the plans for a new GAAR (general anti-abuse rule) and head of tax at Grant Thornton, Francesca Lagerberg, asks whether new French tax policy will hit Brits abroad.

On audit, we ask three key stakeholders for their views on proposals for mandatory audit rotation, with views from a Big Four firm, mid-tier firm and shareholders.

Go to the iTunes store to find out more and download the app.