Law and regulation

Accounting / EU report on disclosure of climate-related information

The technical expert group on sustainable finance set up by the European Commission in July 2018 has published its first report on companies' disclosure of climate-related information

Accounting / LLP SORP 2018: what it means for limited liability partnerships

The latest version of the LLP SORP 2018, released in December, updates the LLP accounting rules to meet the requirements of the FRS 102 Triennial Review. James Waller, technical writer, audit and accounting at Croner-i, examines the key changes

Accounting / Winton: use and abuse of pre-packs to drop pension liabilities

Anne-Marie Winton, partner at ARC Pensions Law LLP, examines the pre-pack administration of publisher Johnston Press, which involved the abandoning of £109m in pension liabilities, and asks whether regulators should have greater control of this practice 

Accounting / Rahman: decision to close Rolls-Royce investigation puts pressure on SFO

Is the Serious Fraud Office’s (SFO) decision to scale down its investigation into Rolls-Royce a well-informed move or a sign of panic? Aziz Rahman, senior partner at Rahman Ravelli, considers the SFO’s position

Accounting / Accounting updates: January 2019

In this month’s roundup of accounting and reporting developments, IFRS 16 Leases effective date hits balance sheet, SEC fines Hertz Global $16m over accounting misstatement, crackdown on abuse of Scottish partnerships for money laundering

Accounting / Chapman: making sense of new Strategic Report requirements

Company reporters need to be ready for mandatory changes to the Strategic Report and the enhanced s172 Companies Act 2006 statement on directors’ duties from January 2019, explains Matt Chapman, better business reporting leader, KPMG

Accounting / SEC fines Hertz Global $16m over accounting misstatement

Hertz Global Holdings has agreed to pay a $16m fine, set by the Securities and Exchange Commission (SEC), to settle a case over accounting misstatement which saw the company reduce its previously reported pre-tax income by $235m

Accounting / Exec pay regulations come into force

The new regulations, which require companies explain the payments that executives receive, are effective from 1 January 2019 and apply to large UK listed companies with over 250 employees, with the first disclosures required from 2020

Accounting / Legal updates: January 2019

Our monthly roundup of significant accounting cases features Court of Appeal decision in Global Corporate Ltd v Hale over dividends, misrepresentation claim against Nottingham Forest Football Club sale and six-year ban under s386 of Companies Act. Sophie Brookes, partner at Gateley plc, examines the rulings

Accounting / Mackay: accounting black holes and hands in the till

With a spate of accounting scandals blighting listed companies, Clare Mackay, associate at SA Law LLP considers ways to take action against a fraudulent director and the legal options from personal claims to s463 of the Financial Services and Markets Act 2000

Accounting / Accounting filing deadlines: Dec 2018 - Jan 2019

The key accounting deadlines from accounts for period ending 31 March 2018 to implementation of a raft of amendments SORPs following FRS 102 triennial review, effective date of IFRS 16 Leases and revised guidance on the strategic report requirements

Accounting / FRC details advisory group for corporate reporting project

The Financial Reporting Council (FRC), which is currently under fire after the Kingman review recommended its abolition, has announced the composition of the advisory group for a major project on the future of corporate reporting

Accounting / FRC issues revised standard and guidance for bank audits

The Financial Reporting Council (FRC) has issued an international standard on auditing accounting estimates and related disclosures, covering the audit of expected credit losses in banks and which has been revised to reflect the increased importance and complexity of estimates in financial statements

Accounting / Jersey opens up US-style LLC status for companies

Jersey’s decision to allow the creation of limited liability companies (LLCs) will allow the island to attract more US-based clients and offer more flexibility than the current partnership status based on English law. James Willmott, partner and David Patterson, associate, corporate finance at Carey Olsen, examines the options

Accounting / Charities: Gift Aid, deeds of covenant and trading subsidiaries - part 8

Helena Wilkinson FCA, partner at Price Bailey, examines the changes brought in by Financial Reporting Standard (FRS) 102 and what they mean for charities when it comes to recording donations in their accounts
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