Latest Financial Reporting News for the UK Accountancy Profession

Accountancy Age

• ICAEW warns against prohibiting the use of fair value

  

  Accountancy Age EUROPEAN COMMISSION proposals to amend the application of fair value accounting have met with opposition from the ICAEW. According to lobbying materials from the ICAEW seen by Accountancy Age, the institute is concerned that…
  Published - 12 days ago, 9 May 12, 9:50am
• IASB proposes 11 amendments to IFRS

  

  Accountancy Age ACCOUNTING STANDARDS setter the IASB is proposing amendments to 11 International Financial Reporting Standards (IFRSs) under its annual improvements project. The project provides a streamlined process for dealing efficiently…
  Published - 17 days ago, 4 May 12, 9:37am
• Don’t delay reporting changes warn firms

  

  Accountancy Age IMPLEMENTATION OF REPORTING CHANGES cannot be delayed said two of the largest global firms. Ernst & Young and Grant Thornton have responded to a consultation on draft proposals to change financial reporting requirements. The…
  Published - 19 days ago, 2 May 12, 10:19am
• FRAB announces structural changes

  

  Accountancy Age THE FINANCIAL Reporting Advisory Board has announced plans to overhaul its structure, membership and operational arrangements. The Treasury advisory body said in its annual report that it was making changes relating to the bo…
  Published - 24 days ago, 27 Apr 12, 9:07am
• Under the microscope

  

  Accountancy Age A RAFT OF consultation documents issued by the Financial Reporting Council have set greater oversight and reporting standards for company boards, audit committees and auditors. The regulator is planning to update the UK's 20-…
  Published - 26 days ago, 25 Apr 12, 1:21pm
• FRC hedges bets over audit governance

  

  Accountancy Age A RAFT OF consultation documents issued by the Financial Reporting Council have set greater oversight and reporting standards for company boards, audit committees and auditors. The regulator is planning to update the UK's 20-…
  Published - 26 days ago, 25 Apr 12, 1:21pm
• World is waiting as US dithers over IFRS

  

  Accountancy Age ICAS PRESIDENT Sir David Tweedie has raised concerns over the impact of further delays in the US' decision over whether or not to adopt IFRS. Speaking at a joint ICAS and AICPA event in New York, Tweedie (pictured) warned tha…
  Published - 26 days ago, 25 Apr 12, 8:28am
• Size matters

  

  Accountancy Age MEMBER FIRMS should take heed that the accounting watchdog has rolled up its sleeves and is about to crowbar public confidence into financial reporting systems. It plans to do this by drastically increasing the way in which i…
  Published - 27 days ago, 24 Apr 12, 10:59am
• Size does matter according to incoming AADB sanctions

  

  Accountancy Age MEMBER FIRMS should take heed that the accounting watchdog has rolled up its sleeves and is about to crowbar public confidence into financial reporting systems. It plans to do this by drastically increasing the way in which i…
  Published - 27 days ago, 24 Apr 12, 10:59am
• AADB sanctions will prompt wistful thinking

  

  Accountancy Age WHEN THE accounting watchdog slapped PwC with a record fine for its audit work at JP Morgan, I argued that the penalty was both fair and inadequate at the same time. The £1.4m fine levied by the Financial Reporting Council's…
  Published - 28 days ago, 23 Apr 12, 1:25pm

AccountingWEB uk

• IFRS: Changes on the way
  
  Published - 13 days ago, 8 May 12, 11:38am
• Grant accounting: What you need to know
  
  Published - 20 days ago, 1 May 12, 10:32am
• Goodwill: Myths and facts
  
  Published - 35 days ago, 16 Apr 12, 11:46am
• Tweedie takes the helm at ICAS
  
  Published - 41 days ago, 10 Apr 12, 12:45pm
• 10 disclosures that practitioners get wrong
  
  Published - 54 days ago, 28 Mar 12, 2:38pm
• FRC defends its small business work
  
  Published - 61 days ago, 21 Mar 12, 12:08pm
• Accountants fret over FRRP changes
  
  Published - 62 days ago, 20 Mar 12, 7:57am
• Audit provisions for small entities: PASE explained
  
  Published - 63 days ago, 19 Mar 12, 11:59am
• New APB guide covers ethical standards
  
  Published - 77 days ago, 5 Mar 12, 12:55pm
• Any Answers Answered: error correction
  
  Published - 80 days ago, 2 Mar 12, 12:05pm

Financial Director

• IAS 39 problems flare up again

  

  financial_director THE DEBATE over accounting standards flared up again in May when investor lobbyists Pirc called on shareholders to vote against the re-appointment of PwC as auditors of Barclays. But why does Pirc continue to flag up an is…
  Published - 25 days ago, 25 Apr 12, 11:00pm
• SMEs should keep GAAP facets

  

  financial_director THE UK accounting regulator has rowed back on plans to impose international reporting standards on “publicly accountable” non-listed companies, following feedback from consultation drafts. Currently companies fall with…
  Published - 89 days ago, 22 Feb 12, 8:00am
• Three days to pack

  

  financial_director THE NEW Year was awash with administrations as the retail sector was badly hit by poor Christmas trading including Hawkins Bazaar, Barratts and D2 Jeans to name a few. Unfortunately, corporate insolvencies show no signs of…
  Published - 26 Jan 12, 12:00am
• The GAAR report: was it worth it?

  

  financial_director THE LONG-awaited report from Graham Aaronson QC on the merits of a general anti-tax avoidance rule (GAAR) was published in November. Aaronson had given hints to what it would include. It was not expected to rule out the po…
  Published - 6 Jan 12, 12:00am
• Public sector finances must go global

  

  financial_director RECENTLY, BBC business editor Robert Peston posed the question: why do investors love to invest in Britain? He was drawing attention to the low rates on UK Government ten-year bonds compared to those not only of Greece and…
  Published - 29 Nov 11, 10:28am
• Deserved recognition

  

  financial_director PROPOSED changes to the revenue recognition accounting standard are aimed to provide clarity in this complex area, which is of particular sensitivity for banks. The International Accounting Standards Board (IASB) and US eq…
  Published - 24 Nov 11, 12:00am
• HMRC’s Goldman accounting error

  

  financial_director THE BIG question in the tax community at the moment concerns the error made by HM Revenue & Customs (HMRC) in its deal with investment bank Goldman Sachs, which lost the Exchequer up to £10m. Speculation is mounting over…
  Published - 24 Nov 11, 12:00am
• Governance Risk and Compliance - inspiring confidence through greater business predictability

  

  financial_director This webinar assesses methods to ensure you have the internal processes fine tuned to monitor compliance with published standards in corporate and financial governance.
  Published - 24 Oct 11, 9:30am
• Cleaning up their act

  

  financial_director DONALD RUMSFELD, US defense secretary until 2006, memorably classified intelligence in three ways: known knowns, known unknowns and unknown unknowns. If we can thank scientists for dragging greenhouse gas emissions from th…
  Published - 22 Aug 11, 11:00pm
• From accounting to accountability

  

  financial_director CORPORATE reporting has increasingly been in the spotlight over the past few years, but post the credit crunch this scrutiny has intensified. Since this time, there have been a number of corporate incidents whereby strong,…
  Published - 17 Aug 11, 10:18am

KPMG

• Delivering tomorrow - Sustaining and future proofing mail services
  Postal operators globally are being forced to address their business models and operations at unprecedented speed in response to declining postal volumes and increasing financial challenges.
  Published - 3 days ago, 18 May 12, 8:36am
• The Future of UK GAAP Financial Services
  In January 2012 the Accounting Standards Board (ASB) issued its proposal for the future of financial reporting in the UK and the Republic of Ireland.
  Published - 10 days ago, 11 May 12, 7:57am
• KPMG’s Written Evidence to the Lords Economic Affairs Committee Inquiry ‘Auditors: Market Concentration and their Role’
  Written evidence to the Lords Economic Affairs Committee inquiry into audit market concentration and the role of auditors
  Published - 39 days ago, 12 Apr 12, 10:24am
• Launch of new KPMG CRC white paper and DECC CRC simplification proposals
  DECC have just released their latest consultation on the simplification proposals for the CRC.
  Published - 53 days ago, 29 Mar 12, 8:00am
• KPMG awarded three Audit Commission Contracts
  Commenting on the Audit Commission’s announcement in respect of the award of audit contracts for five years from the 2012/13 financial year, Mike McDonagh, Head of Public Sector Audit at KPMG, said
  Published - 76 days ago, 6 Mar 12, 2:44pm
• Financial Reporting Matters February 2012
  We support the inclusion of new accounting policy choices, which should help to ease the transition process for many UK entities.
  Published - 87 days ago, 24 Feb 12, 9:45am
• KPMG's response to European Commission Audit Green Paper
  KPMG's response to the consultation on the European Commission Green Paper - Audit Policy: Lessons from the Crisis
  Published - 95 days ago, 16 Feb 12, 11:55am
• New apprenticeship opportunities at KPMG
  Professional services firm KPMG is launching a new apprenticeship programme based in its Canary Wharf offices in London, within its Risk Consulting practice.
  Published - 8 Feb 12, 11:09am
• Pensions Audit and Assurance Survey - December 2011
  Half of pension schemes believe their pension liabilities should form part of their annual accounts and be subject to audit, according to a KPMG survey of 250 major pension schemes with assets ranging from £100m to over £1bn.
  Published - 6 Feb 12, 1:56pm
• IFRS for investment funds: Segment reporting
  This publication addresses practical application issues that investment funds may encounter when applying IFRS 8 Segment Reporting.
  Published - 6 Feb 12, 1:54pm

Deloitte

• Deloitte IFRS podcast – Update on Revenue Recognition Project
  
  Published - 19 days ago, 2 May 12, 10:43am
• Deloitte IFRS podcast – Update on Financial Instruments Project
  
  Published - 19 days ago, 2 May 12, 12:00am
• Deloitte IFRS podcast – Update on Leases Project
  
  Published - 20 days ago, 1 May 12, 12:00am
• Governance in brief - April 2012 - Part II
  The FRC consults on changes to the UK Corporate Governance Code.
  Published - 27 days ago, 24 Apr 12, 7:33am
• Deloitte comments on the FRC's proposed revisions to the UK corporate governance code and guidance on audit committees
  Deloitte, the business advisory firm, comments on the FRC's proposed revisions to the UK corporate governance code and guidance on audit committees.
  Published - 31 days ago, 20 Apr 12, 11:47am
• Governance in brief - March 2012
  Governance in brief - March 2012.
  Published - 31 days ago, 20 Apr 12, 9:57am
• Governance in brief - February 2012
  Governance in brief - February 2012.
  Published - 31 days ago, 20 Apr 12, 9:56am
• Governance in brief - January 2012
  Governance in brief - January 2012.
  Published - 31 days ago, 20 Apr 12, 9:55am
• iGAAP Newsletter - January 2012
  Our quarterly newsletter provides informative and thought provoking articles, interview and features, ensuring you are kept up to date on recent developments in both IFRS and UK GAAP.
  Published - 31 days ago, 20 Apr 12, 9:52am
• Governance in brief - October 2011
  Proposals to extend audit exemption to more small companies and certain subsidiaries.
  Published - 31 days ago, 20 Apr 12, 9:47am

IAS Plus

IFRS Foundation

• Martin Edelmann appointed to the IASB
  
  Published - 3 days ago, 18 May 12, 8:33am
• IASB concludes the 2009-2011 Annual Improvements cycle
  
  Published - 4 days ago, 17 May 12, 11:59am
• IFRS Interpretations Committee 2012 appointments
  
  Published - 7 days ago, 14 May 12, 7:31am
• Trustees publish proposed enhancements to IFRS Foundation Due Process Handbook
  
  Published - 13 days ago, 8 May 12, 11:51am
• IASB publishes proposals for amendments under its annual improvements project
  
  Published - 18 days ago, 3 May 12, 11:36am
• IFRS Trustees publish recommendations on efficiency and effectiveness of IFRS Interpretations Committee
  
  Published - 19 days ago, 2 May 12, 7:15am
• Sir Callum McCarthy appointed as a Trustee of the IFRS Foundation
  
  Published - 25 days ago, 26 Apr 12, 6:59am
• Representatives of IASB and ASBJ hold biannual meeting
  
  Published - 46 days ago, 5 Apr 12, 7:25am
• Chungwoo Suh appointed to the IASB
  
  Published - 63 days ago, 19 Mar 12, 8:36am
• Speech by Hans Hoogervorst, Mexico March 2012
  
  Published - 76 days ago, 6 Mar 12, 3:13pm

IFRS Resources

• International Business Conference coming to Washington this June
  The AICPA International Business Conference, to be held June 11 to 12 in Washington, D.C., brings together leading experts to -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• China tells AICPA delegation it wants continued cooperation
  Chinese Deputy Minister of Finance and President of the Chinese Institute of Certified Public Accountants Li Yong reiterated  -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• IASB plans to create network for standard-setters to influence IFRS:
  The International Accounting Standards Board plans to establish a formal network to give standard-setting bodies a voice when -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• Developing countries want more focus under IFRS
  Palm-oil producers in Malaysia are leading efforts to encourage the International Accounting Standards Board to address the n -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• Letter: Some international accounting standards are lost in translation
  International accounting standards are in need of more accurate translations, Philippe Longerstaey writes. -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• IASB reaffirms partnership with Accounting Standards Board of Japan
  Members of the International Accounting Standards Board and the Accounting Standards Board of Japan affirmed their ongoing pa -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• IFRS Foundation releases Taxonomy 2012 for XBRL
  The IFRS Foundation released its International Financial Reporting Standards Taxonomy 2012 for the eXtensible Business Report -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• Analysis: U.S. remains a hurdle to aligning accounting rules
  The International Accounting Standards Board and the Financial Accounting Standards Board have been converging major accounti -More- 
  Published - 18 days ago, 3 May 12, 11:14am
• IASB's Tweedie leads Scotland's Institute of Chartered Accountants
   -More- Try IFRS on Checkpoint for 30 days! Get the IFRS answers you need now - with comprehensive research, guidance and tools from WG&L® on Checkpoint®. You can even link to the IASB standards right from the analysis for complete and easy acc…
  Published - 18 days ago, 3 May 12, 11:14am
• Islamic finance might face shake-up from standards body:
  Bahrain's Accounting and Auditing Organization for Islamic Financial Institutions, a standard-setting body for the Islamic fi -More- 
  Published - 18 days ago, 3 May 12, 11:14am

@CompaniesHouse

• CompaniesHouse: @janibbott thank you for your kind comments.
  CompaniesHouse: @janibbott thank you for your kind comments.
  Published - 3 days ago, 18 May 12, 3:23pm
• CompaniesHouse: Figures for the day 17/05/12 show: 5,862 Annual Accounts were filed & 9,020 Annual Returns #companieshouse
  CompaniesHouse: Figures for the day 17/05/12 show: 5,862 Annual Accounts were filed & 9,020 Annual Returns #companieshouse
  Published - 3 days ago, 18 May 12, 2:10pm
• CompaniesHouse: Figures for the day 17/05/12 show: 2,118 companies incorporated; 44 were dissolved & 19 were restored to the Register #companieshouse
  CompaniesHouse: Figures for the day 17/05/12 show: 2,118 companies incorporated; 44 were dissolved & 19 were restored to the Register #companieshouse
  Published - 3 days ago, 18 May 12, 2:05pm
• CompaniesHouse: @llknmunki we do not have a date yet for next London seminar. Please DM your email address and we’ll contact you when we have the next date.
  CompaniesHouse: @llknmunki we do not have a date yet for next London seminar. Please DM your email address and we’ll contact you when we have the next date.
  Published - 3 days ago, 18 May 12, 7:56am
• CompaniesHouse: Figures for the day 16/05/12 show: 6,238 Annual Accounts were filed & 9,505 Annual Returns #companieshouse
  CompaniesHouse: Figures for the day 16/05/12 show: 6,238 Annual Accounts were filed & 9,505 Annual Returns #companieshouse
  Published - 4 days ago, 17 May 12, 2:17pm
• CompaniesHouse: Figures for the day 16/05/12 show: 2,078 companies incorporated; 67 were dissolved & 27 were restored to the Register #companieshouse
  CompaniesHouse: Figures for the day 16/05/12 show: 2,078 companies incorporated; 67 were dissolved & 27 were restored to the Register #companieshouse
  Published - 4 days ago, 17 May 12, 2:15pm
• CompaniesHouse: 25th -26th May we'll be at the New Start Scotland, hope to see you there? http://t.co/GdKupOFr #companieshouse
  CompaniesHouse: 25th -26th May we'll be at the New Start Scotland, hope to see you there? http://t.co/GdKupOFr #companieshouse
  Published - 4 days ago, 17 May 12, 2:01pm
• CompaniesHouse: Figures for the day 15/05/12 show: 6,924 Annual Accounts were filed & 10,205 Annual Returns #companieshouse
  CompaniesHouse: Figures for the day 15/05/12 show: 6,924 Annual Accounts were filed & 10,205 Annual Returns #companieshouse
  Published - 5 days ago, 16 May 12, 2:10pm
• CompaniesHouse: Figures for the day 15/05/12 show: 1,907 companies incorporated; 5,920 were dissolved & 12 were restored to the Register #companieshouse
  CompaniesHouse: Figures for the day 15/05/12 show: 1,907 companies incorporated; 5,920 were dissolved & 12 were restored to the Register #companieshouse
  Published - 5 days ago, 16 May 12, 2:05pm
• CompaniesHouse: Figures for the day 14/05/12 show: 5,751 Annual Accounts were filed & 13,126 Annual Returns #companieshouse
  CompaniesHouse: Figures for the day 14/05/12 show: 5,751 Annual Accounts were filed & 13,126 Annual Returns #companieshouse
  Published - 6 days ago, 15 May 12, 3:33pm

Companies House - News

• Current Vacancies
  Perl Developer (Front End), Location: Cardiff, Salary: Band C (IT) £23,389 - £28,306.
  Published - 6 days ago, 15 May 12, 11:00am
• Edinburgh Office closed 21 May
  The Companies House Edinburgh office will be closed on 21 May due to a public holiday. See arrangements for filing documents on this date.
  Published - 6 days ago, 15 May 12, 11:00am
• Free Public Data Product
  A new Free Public Data Product is currently being developed to provide basic company information free of charge
  Published - 12 days ago, 8 May 12, 4:00pm
• National Industrial Action - 10 May 2012
  There is planned National industrial action across the Civil Service on Thursday 10 May 2012.
  Published - 13 days ago, 8 May 12, 9:00am
• All offices closed 7 May
  All Companies House offices will be closed on 7 May due to a public holiday. See arrangements for filing documents on this date.
  Published - 24 days ago, 27 Apr 12, 12:00pm
• Joint Registration for Company Start Up and Tax
  An option for customers to incorporate a company and register for Corporation Tax in one process has now been introduced.
  Published - 27 days ago, 24 Apr 12, 12:00pm
• London Office Relocation - Transitional arrangements
  Companies House London will be open for business at its new home in Abbey Orchard Street on Monday 21 May 2012.
  Published - 28 days ago, 23 Apr 12, 9:00am
• Insolvency – High Court Judgement
  Further information on the High Court Judgment of Mr Justice Briggs re Globespan Airways Limited.
  Published - 33 days ago, 18 Apr 12, 2:00pm
• Change to acknowledgements of receipt via the Document Exchange Service (DX)
  Companies House will cease receipting of mail via the DX service with effect from 1 August 2012.
  Published - 39 days ago, 12 Apr 12, 9:00am
• WebFiling is changing
  From 22 April 2012, there will be an improved look and feel of our WebFiling service, including a new company overview screen. Preview the new design now.
  Published - 46 days ago, 5 Apr 12, 9:00am

Companies House - XLM News

• Joint Registration Service - New TIS vs 4.10
  A facility to provide Corporation Tax information along with an Incorporation submission has been implemented. The Corporation Tax information will be sent to HM Revenue and Customs (HMRC) when the incorporation is accepted by Companies House. For fu…
  Published - 18 days ago, 3 May 12, 9:10am
• Annual Return changes from 1st October version 2.6 schema
  Please note that changes to the regulations for Annual Returns with a made up date on or after 1st October 2011 will be implemented between midnight 30th September and midday 1st October 2011. Customers will be required to use Annual Return schema ve…
  Published - 26 Sep 11, 7:10am