Pat Sweet, Sara White

Accounting / Accounting updates: December 2019

This month’s accounting update includes 10-year ban for ex-BHS boss, £40m losses at Goals Soccer Centre, FRC demands corporate reporting improvements, CIMA updates ethics code, EU securities markets regulator prioritises IFRS 16, US part delays lease standard, CIPFA clarifies property investment rules, and college accounts direction is updated

Audit / Audit updates: December 2019

In this month’s audit updates, Deloitte partner fined over Serco misconduct, PwC fails to strike out multimillion euro claim, audit switches at BHP, ITV and Staffline, FRC considers fixed fees as audit quality declines, MPs slam audit automatons, and ethics code leads to ISA changes

Insight / Called to account: November 2019

This month’s named and shamed consists of a Deloitte audit partner who was fined £120k by the FRC, directors banned over failing to put creditors first, a land engineering boss banned for 11 years over tax offences and money launderers jailed for role in £1m ‘rare earth’ metal scam

Accounting / IASB consults on improvements to IAS 7, Statement of Cash Flows

Following intense pressure from investors for companies to provide improved disclosures about an entity’s financing activities and its cash and cash equivalents balances, the international standard setter, the International Accounting Standards Board (IASB) has announced a consultation on IAS 7, Statement of Cash Flows

Tax / OECD plans to reform global digital tax rules

Tax / Public sector bidders face tough rules on tax avoidance