IASB amends IFRS 9 and IFRS 7 for renewable electr...

The International Accounting Standards Board (IASB) has introduced targeted amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instrument...

Accountancy Age's Top 10 Stories of 2024

FRC opens consultation on draft Strategy 2025-28

The Financial Reporting Council (FRC) has published its draft three-year strategy for 2025-28, emphasising its commitment to safeguarding public trust...

Are you ready for the FRS 102 shake-up?

The forthcoming amendments to FRS 102 represent one of the most significant changes to lease accounting in years. Effective from January 2026, these u...

MHA's carbon emissions jump 42% but maintains 2030...

MHA reveals ambitious roadmap to net zero by 2030, while transparent reporting shows the real-world challenges of balancing rapid business growth with...

Update from across the pond: PCAOB enhances report...

The Public Company Accounting Oversight Board (PCAOB) voted 4-1 to require major accounting firms to submit detailed financial statements and standard...

FASB targets greater transparency with latest acco...

The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) that mandates new expense disclosures for public compa...

Complex audits surge to smaller firms, ICAEW repor...

The Institute of Chartered Accountants in England and Wales (ICAEW) has released its comprehensive audit monitoring report for 2023/24, revealing sign...

News from across the pond: SEC tightens auditor ov...

New PCAOB rules aim to enhance accountability Read More...

The Consumer Duty one year on

The financial services industry has now had just over one year to embed the Consumer Duty for existing products and should now be in the position to d...

Audit Reform: A welcome sign of change for mid-tie...

To the delight of many in mid-tier accounting circles, we are now beginning to see significant, wide-ranging steps being taken to reform audit practic...

FRC's Going Concern Guidance consultation demands ...

As the October 28 deadline approaches, accounting firms across the UK are being urged to contribute to a critical consultation that could reshape how ...

EY sanctioned for breaching non-audit services cap...

The Financial Reporting Council (FRC) has imposed sanctions on Ernst & Young LLP (EY UK) for breaching ethical standards related to non-audit serv...

What did we learn from the FRC's latest audit qual...

The Financial Reporting Council’s Annual Review of Audit Quality for 2024, released on July 30, 2024, paints a picture of an audit landscape in ...

How firms can better implement AML compliance

With money laundering costing the UK economy more than £100billion each year according to the National Crime Agency, it is clear that this is an issue...

The Draft Audit Reform and Corporate Governance Bi...

Amongst the 40 laws the government announced in the King’s Speech on 17th July 2024, a draft Audit Reform and Corporate Governance Bill (the Bill) was...

Could ISSB reporting mandates arrive sooner than f...

As the global push for sustainable finance intensifies, UK businesses may need to prepare for mandatory International Sustainability Standards Board (...

Biofuel Carbon Accounting Report could signal shif...

A recent International Energy Agency (IEA) report on carbon accounting for sustainable biofuels could herald significant changes in auditing practices...

Learning from MHA's £200k audit error

The Financial Reporting Council (FRC) recently imposed significant sanctions on MacIntyre Hudson LLP (MHA) and two of its auditors. The case, revolvin...

KPMG launches new climate reporting hub

KPMG has launched its Clear on climate reporting hub to provide insights and guidance to help organisations and their stakeholders understand how to b...

Marketing as an investment: Rethinking corporate a...

The perception and recording of marketing expenditures call for a significant reassessment. Traditionally, these expenditures are treated as operating...

Learning from C&C's £14.5 million accounting error

Earlier this month, C&C Group, the maker of popular cider brands like Magners and Bulmers, announced the resignation of its CEO, Patrick McMahon, ...

What are the consequences for directors who file c...

Under the Companies Act 2006 (“CA 2006”), it is a criminal offence for directors to file their company accounts late. Typically, there isn...

ICAEW proposes major £2 million minimum for Profes...

The ICAEW cited managing insurance costs, firms struggling to obtain coverage, assessing risk-taking capacity, and evolved firm structures as drivers ...

IESBA to set new ethics and independence standards...

The IESBA emphasizes the importance of timely and global adoption of their standards. For corporate accountants, this means staying updated with chang...

KPMG's Dutch subsidiary hit with record £20 millio...

KPMG's faces record fine for a widespread exam cheating scandal, implicating senior staff and highlighting systemic ethical issues in the professional...

The PwC Australia Tax Scandal Explained: An Inside...

PwC's Australia tax scandal has led to significant changes, including over 300 job cuts and the refusal to share a crucial report with Australian parl...