Neglect of upskilling detrimental to accounting profession, experts say
Accounting Firms

Neglect of upskilling detrimental to accounting profession, experts say

4y Sam Alberti

Neglect of upskilling detrimental to accounting pr...

Nearly half of accountants have left a role due to a lack of training opportunities, new research indicates Read More...

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HMRC suspects big firms of underpaying £1.4bn in employment taxes through IR35 rules
Tax

HMRC suspects big firms of underpaying £1.4bn in employment taxes through I...

4y Rebecca Whittaker

HMRC suspects big firms of underpaying £1.4bn in e...

HMRC intends to crack down on both self-employed workers and those who are paid through a personal service company (PSC) Read More...

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Boris Johnson’s successor must make SME support an “immediate priority”
Business

Boris Johnson’s successor must make SME support an “immediate priority”

4y Rebecca Whittaker and Sam Alberti

Boris Johnson’s successor must make SME support an...

While Rishi Sunak stands firm on his “sound money” values, appealing to the interests of businesses could be the route to the top job, experts argue R...

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Burnout sweeps through accounting industry causing surge in mistakes on the job
Accounting Firms

Burnout sweeps through accounting industry causing surge in mistakes on the...

4y Rebecca Whittaker

Burnout sweeps through accounting industry causing...

Burnout is leading to mistakes as survey finds 85% of accountants reopened their books at least once over the last year to fix errors Read More...

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Audit firms asked to address exam cheating following Big Four scandals
Accounting Firms

Audit firms asked to address exam cheating following Big Four scandals

4y Rebecca Whittaker

Audit firms asked to address exam cheating followi...

The FRC intervention to prevent cheating in the UK follows huge fines issued to firms in the US, Australia, and Canada Read More...

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Grant Thornton handed £2m fine by FRC over “fundamental” failings in Sports Direct audit
Accounting Firms

Grant Thornton handed £2m fine by FRC over “fundamental” failings in Sports...

4y Sam Alberti

Grant Thornton handed £2m fine by FRC over “fundam...

The judgement concludes more than five years of probes into the audit firm’s accounts Read More...

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FRC confirms overhaul of UK corporate governance code
Corporate Governance

FRC confirms overhaul of UK corporate governance code

4y Sam Alberti

FRC confirms overhaul of UK corporate governance c...

The first update to the UK Corporate Governance Code in four years will see the creation of a stronger framework for reporting on internal controls an...

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EY break-up plan could see firm lead industry shake-up
Accounting Firms

EY break-up plan could see firm lead industry shake-up

4y Rob Griffin

EY break-up plan could see firm lead industry shak...

Industry observers believe splitting audit and consulting operations could reduce risk of reputational damage Read More...

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Accounting firms must “discover, create and train” talent amid global shortage
Accounting Firms

Accounting firms must “discover, create and train” talent amid global short...

4y Patricia Cullen

Accounting firms must “discover, create and train”...

Though challenging in the short term, firms may reap long-term benefits from being forced into alternative strategies Read More...

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UK accounting firms must prepare for crypto “tidal wave”
Professional Services

UK accounting firms must prepare for crypto “tidal wave”

4y Sam Alberti

UK accounting firms must prepare for crypto “tidal...

An understanding of cryptocurrency and digital assets is no longer optional for advisory firms, according to market participants Read More...

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Accounting firms could “lose credibility” from MSC crackdown
Business

Accounting firms could “lose credibility” from MSC crackdown

4y Sam Alberti

Accounting firms could “lose credibility” from MSC...

Accountants with contractor clients must take practical steps in an attempt to fly under HMRC’s radar Read More...

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Blunted audit reforms risk “pick ’n’ mix approach” to reporting
Audit

Blunted audit reforms risk “pick ’n’ mix approach” to reporting

4y Sam Alberti

Blunted audit reforms risk “pick ’n’ mix approach”...

The FRC and major audit firms have criticised the UK government’s watered-down proposals Read More...

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“Damning” report highlights IR35 non-compliance in public sector
HMRC

“Damning” report highlights IR35 non-compliance in public sector

4y Sam Alberti

“Damning” report highlights IR35 non-compliance in...

Whitehall departments could owe HMRC as much as £236m, according to the report Read More...

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UK will lose world-leading corporation tax status with impending hike, study finds
Corporate Tax

UK will lose world-leading corporation tax status with impending hike, stud...

4y Sam Alberti

UK will lose world-leading corporation tax status ...

The “dramatic” increase may spur similar action in other jurisdictions, according to one expert Read More...

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KPMG hit with £4.5m fine over Rolls-Royce bribery scandal
Audit

KPMG hit with £4.5m fine over Rolls-Royce bribery scandal

4y Sam Alberti

KPMG hit with £4.5m fine over Rolls-Royce bribery ...

The big four auditor is being penalised for “conspiracy to corrupt and a failure to prevent bribery” Read More...

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Accountants need “back-up from HMRC” in MTD ITSA transition
HMRC

Accountants need “back-up from HMRC” in MTD ITSA transition

4y Sam Alberti

Accountants need “back-up from HMRC” in MTD ITSA t...

HMRC intends to atone for poor communications during MTD for VAT, a spokesperson said Read More...

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BEIS outlines plan for UK adoption of new sustainability standards
ESG

BEIS outlines plan for UK adoption of new sustainability standards

4y Sam Alberti

BEIS outlines plan for UK adoption of new sustaina...

Initiatives will include the endorsement, adoption and mandate of international standards, a UK government representative said Read More...

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HMRC takes “more aggressive” approach as transfer pricing investigations soar
Tax Avoidance

HMRC takes “more aggressive” approach as transfer pricing investigations so...

4y Sam Alberti

HMRC takes “more aggressive” approach as transfer ...

Increased scrutiny of corporate profit shifting by HMRC generates its record rise in transfer pricing tax yield Read More...

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Anti-slavery efforts “unacceptable” among UK companies, FRC says
Corporate Governance

Anti-slavery efforts “unacceptable” among UK companies, FRC says

4y Sam Alberti

Anti-slavery efforts “unacceptable” among UK compa...

One in ten businesses are failing to submit compulsory modern slavery statements Read More...

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Major spike in bogus R&D claims highlights ‘challenge’ for HMRC, experts say
Tax

Major spike in bogus R&D claims highlights ‘challenge’ for HMRC, experts sa...

4y Sam Alberti

Major spike in bogus R&D claims highlights ‘challe...

Forthcoming government changes will seek to tighten the regime to foster a “new culture of enterprise” Read More...

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FRC publishes proposal to reclaim powers to ban auditors
Audit

FRC publishes proposal to reclaim powers to ban auditors

4y Sam Alberti

FRC publishes proposal to reclaim powers to ban au...

But according to one expert, the industry response could render the move "redundant" Read More...

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Shock tax bills part of HMRC plan to “kill” contracting
Tax

Shock tax bills part of HMRC plan to “kill” contracting

4y Sam Alberti

Shock tax bills part of HMRC plan to “kill” contra...

HMRC’s latest compliance crackdown could set a damning precedent for the contracting industry, market participants say Read More...

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FRC to ARGA transition plan sparks industry frustration as audit reform delay persists
Audit

FRC to ARGA transition plan sparks industry frustration as audit reform del...

4y Sam Alberti

FRC to ARGA transition plan sparks industry frustr...

The Financial Reporting Council’s release of its three-year plan has been welcomed by auditors and accountants, but some argue it highlights the “over...

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Companies House reform will increase “red tape” for SMEs
Business

Companies House reform will increase “red tape” for SMEs

4y Sam Alberti

Companies House reform will increase “red tape” fo...

Further compliance burdens and the prospect of increased costs are particularly untimely for small businesses, one expert said Read More...

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UK accountant handed jail term in £160k tax fraud case
HMRC

UK accountant handed jail term in £160k tax fraud case

4y Sam Alberti

UK accountant handed jail term in £160k tax fraud ...

The taxpayer’s trust was abused using accountancy knowledge and expertise, HMRC said Read More...

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Non-compliance risk for “laggards” as MTD for VAT lands
MTD

Non-compliance risk for “laggards” as MTD for VAT lands

4y Sam Alberti

Non-compliance risk for “laggards” as MTD for VAT ...

Scepticism among the smallest businesses poses a key challenge for advisers Read More...

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ISSB publishes draft proposals for global sustainability disclosures
ESG

ISSB publishes draft proposals for global sustainability disclosures

4y Sam Alberti

ISSB publishes draft proposals for global sustaina...

The move marks the beginning of a comprehensive global baseline for climate-related financial reporting Read More...

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