Practice & Industry

Tax / EY alliance with Thomson Reuters on digital tax services

EY is teaming up with Thomson Reuters to develop leading-edge, digitally enabled tax services targeted at mulitnationals operating across tax jurisdictions

Accounting / ACCA pre-tax deficit doubles over pension deficit

ACCA’s pre-tax deficit more than doubled to £35.2m last year according to a preview of its financial results for the 2018-19 financial year, largely because of a one-off accounting adjustment relating to ACCA’s defined benefit pension scheme amounting to £12.5m

Insight / EY to handle British Steel administration

EY has been called in to handle the administration of British Steel after last-minute attempts to arrange a rescue deal failed and the government announced the company has gone into compulsory liquidation

Insight / Administration on menu at Jamie Oliver restaurants

Celebrity chef Jamie Oliver’s restaurant group has gone into administration after failing to secure additional financial backing with administrators KPMG closing all but threee restaurants immediately

Accounting / Accountancy bodies ramp up anti money laundering oversight

Regulatory bodies, including HMRC, ICAEW and ACCA, have identified 42 businesses as having potential compliance failings in customer checks, record keeping and identifying risk

Insight / FCA warning as online investment scams triple

Reports of cryptoassets and forex investment scams more than tripled last year, with victims losing over £27m in total in 2018/19, warns the Financial Conduct Authority (FCA) and Action Fraud

Insight / Millennial workers show limited loyalty to employers

Economic and political pessimism among 17-36 year-olds is widespread, and businesses need to do more to keep the younger generation engaged with the workplace as only half plan to stay with employers for maximum two years, Deloitte research has found

Accounting / Recovering cryptoassets after business insolvency

Thomas Hulme, cryptoasset specialist at law firm Mackrell Turner Garrett, examines the rules of insolvency and cryptoassets, and how creditors can recover money from an insolvent person or business’s digital wallet

Insight / People in the news: Milsted Langdon, CISI, FRC, Thorne Widgery

In this week’s accountancy career news, director promotions at Milsted Langdon, hires at Thorne Widgery, Chartered Institute for Securities & Investment and Centage, and CMI recognition for FRC board member

Audit / Over a third of audits fail quality test, says IFIAR

One in three audits carried out by member firms of the six largest global audit networks are judged deficient in some way with fair value judgment frequently cited as a key problem area, finds global audit regulatory forum

Insight / Finance experts dominate FTSE CEO roles

The UK’s top business leaders at FTSE 100 companies are still most likely to come from a finance background rather than any other sector, but diversity and gender representation has worsened

Insight / How to reduce workplace stress for accounting and finance staff

The world of accounting and finance can hold multiple sources of stress, from year-end and regulatory reporting changes to new business demands. Matt Weston, managing director of Robert Half UK looks at ways to reduce stress across finance teams

Insight / Tips and advice on coping with exam pressure

As exam season starts for thousands of accountancy students across the country, Jessica French, learning & development manager at CABA, shares tips and advice on how to prepare and cope with the emotional rollercoaster

Insight / Airline insolvency proposals may fail to take off

The government’s independent airline insolvency review, set up in the wake of the collapse of Monarch Airlines in 2017, has recommended developing a special administration regime (SAR) to keeping aircraft flying in order to repatriate travellers, but has run into industry opposition

Insight / Brexit worries force CFOs to curb UK investment

The UK’s top CFO’s are implementing risk aversion strategies in the face of continued Brexit uncertainty over the year ahead, with  almost all believing that the prospect of widely unanticipated surprise events is a rapidly growing concern for their company, a poll of senior finance executives has found
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