Business

Accounting / Draft rules on directors’ remuneration policy changes published

The government has published draft regulations about directors’ remuneration policy and reports, which extend the scope of renumeration reporting to unquoted traded companies and introduce new requirements

Audit / Deloitte qualifies Swiss miner’s accounts over potential charity ‘misappropriation’

Auditors from Deloitte have issued a qualified opinion on the annual results from Ferrexpo, a Swiss headquartered iron ore company with assets in Ukraine, over concerns about possible ‘misappropriation’ of corporate social responsibility (CSR) funds

Insight / Warnings for pensions trustees over chair’s statement

Pensions trustees have been warned to produce a chair's statement which is compliant with the law, after fines against two schemes were upheld in court

Insight / EU agrees gig economy minimum rights

The EU has agreed minimum rights for workers in casual or short-term employment in the gig economy, with requirements for working conditions to be made clear to workers on the first day on the job, and probationary periods limited to six months

Insight / Complaints against financial services firms decline

The number of complaints against regulated financial services firms fell in the last six months of last year, according to data from the Financial Conduct Authority (FCA)

Audit / CMA’s joint audit proposals divide opinion

Plans to introduce joint audits for listed companies have been criticised by Big Four firms as potentially further damaging the quality of audits, while challenger firms argue that this would increase access to the audit market

Insight / Business confidence wilts under Brexit pressure

UK economic confidence improved a little at the start of the year, but remains lower than many other countries worldwide, according to research from ACCA and the Institute of Management Accountants (IMA)

Insight / Baldwins expands Scottish reach with Scott-Moncrieff merger

Scott-Moncrieff, Scotland’s longest established accountancy firm, is to join Baldwins, part of the fast-growing challenger audit services firm CogitalGroup, which now has a significant Scottish presence via both acquisition and organic expansion

Audit / CMA wants Big Four operational split and mandatory joint audits

The Big Four firms face an operational split between audit and consulting services, and mandatory joint audits of large listed companies, as a result of the Competition and Markets Authority’s (CMA) final report on the UK audit market

Insight / Brexit dominates FCA priorities for year ahead

The Financial Conduct Authority (FCA) has published its business plan for 2019/20, outlining the key priorities for the coming year, but says the immediate priority will remain supporting an orderly transition as the UK leaves the EU

Insight / Big Four consulting projects overshoot on costs

Around 70% of all Big Four audit firm consulting projects end up costing more than the client’s initial estimate, with 18% of projects costing significantly more and only 2% coming in under budget

Insight / Brexit worries weigh on CFOs

As the Easter recess brings a temporary halt to parliamentary discussion about the UK’s plans for leaving the EU, long term levels of concern about Brexit among CFOs has hit an all-time high

Insight / Accountex 2019 exhibition showcases Making Tax Digital

This year’s Accountex exhibition will focus on Making Tax Digital with over 200 exhibitors including leading software and technology companies, and a keynote from HMRC’s head of MTD Theresa Middleton

Tax / Businesses warned on winding up perils over unpaid tax

HMRC applied to shut down 4,160 businesses because they had fallen behind on their tax payments in 2018 with financial problems being exacerbated by a late payment culture

Insight / People in the news: Wilson Wright, RSM, KPMG, Wright Hassall

In this week's career moves, Wilson Wright and KPMG announce partner promotions, Wright Hassall scoops tax consultant from HMRC, RSM names national head of accounting and FR, and Grant Thornton names five partners in audit and tax practices
Subscribe