Insight / Changing face of office life

During the pandemic, firms were forced to work remotely, but how do you run a people business without human contact? Smith & Williamson’s Giles Murphy predicts the death of the office could be exaggerated

Audit / Call for Treasury to ensure cash access

The National Audit Office (NAO) is calling on the Treasury to launch a coordinated effort to safeguard access to cash, as Covid-19 has accelerated the move to online transactions, and there is a risk that vulnerable people who rely on paying money will be excluded

Insight / FCA mulls cannabis company listings

The Financial Conduct Authority (FCA) is considering its approach to overseas-based cannabis companies interested in listing in the UK

Insight / US rapper fined over bogus cryptocurrency

The Securities and Exchange Commission (SEC) has brought charges against a US rapper, a film producer and three others over allegations they promoted unregistered and fraudulent initial coin offerings (ICOs) using celebrity endorsements 

Insight / People in the news: RSM, Personal Finance Society, Government

In this week’s accountancy career moves, partners appointed at RSM and McGuireWoods, president named at the Personal Finance Society, and CFO appointments at Paysafe Group, Energy Assets Group

Tax / Coronavirus: essential updates for accountants, tax advisers and auditors - Part 2

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

Insight / PwC pledges to reach net zero emissions by 2030

PwC has committed to achieving net zero greenhouse gas (GHG) emissions across its global network within the next ten years, and will be taking action to support its suppliers and clients in tackling their impact on the climate 

Insight / UK Accounting Standards Endorsement Body names chair

Ex-PwC partner Pauline Wallace has been named as the first chair of the new UK Accounting Standards Endorsement Board (UKEB), the body tasked with endorsing and adopting international accounting standards once the UK leaves the EU

Technical Alerts

17 Sep 2020

Insight / How remote working poses fraud threat

As working from home becomes the new normal, Weng Yee Ng and Charlie Patrick of Forensic Risk Alliance assess the growing threat of fraud in the finance sector

Insight / Infection rates see government mull Covid lockdown

As coronavirus infection rates rise, the government has signalled it is considering a range of new restrictions to halt the progress of the pandemic, with a two-week return to national lockdown the most extreme

Accounting / Deloitte fined £15m over Autonomy auditing failures

Deloitte has been fined a record £15m and severely reprimanded by the Financial Reporting Council (FRC) for ‘serious and serial failures’ in its auditing of software company Autonomy, including ‘numerous’ examples of misconduct and a lack of professional scepticism

Audit / Audit firms report split progress

As Deloitte reveals plans to implement FRC audit firm split, Accountancy Daily reviews progress ahead of October deadline

Insight / Pandemic support suppresses insolvency rates

Overall numbers of company and individual insolvencies remained low in August 2020, largely as a result of the government measures put in place in response to the coronavirus pandemic, but look set to rise sharply as support schemes end

Audit / IAASB to examine going concern ‘expectation gap’

The International Auditing and Assurance Standards Board (IAASB) has opened a consultation on fraud and going concern in audits, in response to concerns raised by high-profile corporate failures in recent years

Technical Alerts

16 Sep 2020

Accounting / Coronavirus set to increase M&A disputes

With buyers and sellers arguing over every penny, M&A negotiations are likely to become more contentious, complex and expensive. Duff & Phelps’ Andrew Probert looks how accounting policies can lead to disputes as ‘coronavirus’ gets written into agreements

Insight / Furlough numbers fall, unemployment rises

More than half of those furloughed since May returned to work by mid-August according to data published by the Office for National Statistics (ONS), but unemployment levels are increasing

Insight / Pandemic sees ‘bot’ cyber-attacks on financial services increase

The number of human-initiated cyber attacks declined during the Covid-19 pandemic, but there has been an increase in automated ‘bot ‘attacks targeting financial services organisations, according to research by LexisNexis

Insight / Covid-19: FCA wins landmark business interruption insurance case

Hundreds of thousands of small businesses denied claims under business interruption (BI) insurance policies for losses arising from the pandemic are set to receive pay-outs, after the Financial Conduct Authority (FCA) won a test case against insurers in the High Court

Audit / Half of internal audit functions affected by coronavirus redeployment

Chartered IIA study raises concerns for corporate governance during coronavirus crisis, and reveals the extent of disruption to internal audit teams, as 46% of internal audit teams have been affected by redeployment during coronavirus lockdown

Tax / Aberdeen bottom of league for NMW compliance

The Scottish oil city of Aberdeen tops the list of places where HMRC conducted the greatest number of investigations into the underpayment of the national minimum wage (NMW) last year, according to Pinsent Masons

Tax / Coronavirus: essential updates for accountants, tax advisers and auditors - Part 1

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

Technical Alerts

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