Carpetright is to close 92 stores, cut up to 300 jobs and reduce the size of its UK property estate and rental cost base through a company voluntary arrangement (CVA)

South West firm Thomas Westcott, has merged with Okehampton-based accountancy practice Robert Humphry as part of its continued plans for expansion

The IFRS Foundation has indicated that the first three updates of modules designed to provide support to anyone learning about, applying or reading financial statements prepared using the IFRS for SMEs standard will be available shortly

The current patchwork of global financial regulations is costing $780bn (£549bn) a year as a result of inconsistencies between different jurisdictions, with smaller institutions more likely to experience additional costs, according to research from the International Federation of Accountants (IFAC) and Business at OECD (BIAC)

The Serious Fraud Office (SFO) has named an accountant as its interim director, pending a permanent appointment to replace the outgoing head, marking the first time in its 30-year history that the agency has not been led by a lawyer

The government is launching a package of measures designed to level the playing field for smaller businesses bidding to win government contracts, including proposals to exclude suppliers from major government procurements if they cannot demonstrate fair and effective payment practices with their subcontractors

KPMG has signalled its support for current campaigns to reduce single-use plastic and has announced the firm will stop using plastic water cups across its 22 offices in the UK by the end of the summer 2018, in a move that will save three million cups every year, and reduce costs by £60,000

Julian Pitts and Bob Maxwell of Begbies Traynor have been appointed joint administrators to Wetherby-based construction business Haresign Ltd, which experienced severe cashflow problems following a dispute over work on a wedding venue

The International Ethics Standards Board for Accountants (IESBA) has released a completely rewritten code of ethics for professional accountants designed to provide clearer advice about how accountants should deal with ethics and independence issues which it says is easier to navigate, use and enforce

Multinational aircraft and aerospace supplier Airbus has provided further details of the restatement of its 2017 financial figures to account for the implementation of IFRS 15 Revenue from contracts with customers, which will see a 20% increase in earnings before interest and taxes (EBIT) adjusted

For the first time in two years, worries about Brexit are not top of the list of risks facing UK corporates, with CFOs more concerned about weak UK growth, according to research by Deloitte

As the UK high street once again faces the never ending fallout from the move to online and major retailers go into administration or contemplate restructuring, Mark Gardner, insolvency specialist at Excello Law, asks where sound accounting could have saved some of the casualties