Practice & Industry

Insight / Accountants prioritise wellbeing

As Covid-19 challenges add to daily stresses, accountants view mental wellbeing as more important and give it a higher priority than other professional groups, including lawyers and management consultants, according to a survey by wealth management firm Saunderson House

Insight / Covid drives FS sector home working

Half of the UK’s financial services workforce want to work from home after Covid-19, according to a report by KPMG and the Financial Services Skills Commission,  suggesting the  dramatic change in working patterns created by the pandemic is likely to lead to a new approach

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 / Mazars rebrands to mark milestone

Mazars, the international tax, audit and advisory firm, unveils its new brand identity in over 90 countries and territories, marking a key milestone in the firm’s expansion

Accounting / Financial Services Bill introduced to Parliament

The government has introduced the Financial Services Bill as a first step in shaping a regulatory framework for the UK’s financial services sector outside of the EU

Insight / Deloitte to close four offices

Deloitte is the first of the Big Four to announce it is reducing the amount of office space occupied by the firm as a result of the impact coronavirus has had on working patterns, with plans to shut four of its offices

Accounting / FRC seeks corporate reporting improvements

The quality of corporate reporting from some the UK’s largest companies has not improved over the past year, and there remain concerns about the frequency of restatements relating to cashflow, according to the Financial Reporting Council’s (FRC’s) annual review

Insight / CFOs predict recovery not till summer 2021

CFOs are not expecting a ‘return to normal’ to pre-pandemic levels for business until next summer at the earliest, although most are expecting to take back the bulk of furloughed staff in the meantime, according to research by Deloitte

Audit / EXCLUSIVE: interview with Mazars UK head of audit

Head of audit at Mazars UK, Bob Neate, has his say on audit reform in the UK – explaining how he expects smaller firms to follow the Big Four in splitting operations and the benefits of more players through joint audit - as ‘everyone accepts that competition enhances quality’, Zak Jakubowski reports

Audit / Big Four’s non-audit fees for clients fall 20%

Audit income at the Big Four firms rose sharply last year, but was accompanied by a marked drop in fees from non-audit work for audit clients, ahead of the requirement for formal separation of activities, according to the latest Financial Reporting Council (FRC) analysis

Insight / Furlough cash: personal risks loom for PAYE/NIC payment failure

Directors using funds from job retention scheme to boost cashflow rather than meet tax liabilities risk being personally liable for penalties, say RSM’s Susan Ball and Jamie Wilson

Insight / Government plans to ensure cash remains available

The government is holding a six-week consultation on plans to protect access to cash throughout the UK, which would include offering cashback at shops without consumers having to make a purchase

Accounting / KPMG delays results in face of ‘significant uncertainty’

KPMG has become the second of the Big Four to delay publication of its annual results and details of partners’ pay until it has a clearer view of the impact of Covid-19

Insight / Black History Month: building blocks for real inclusion

EY’s Mduduzi Mswabuki explains the steps his firm is taking to create a place where everyone feels they truly belong, including the importance of allies and sponsorship

Audit / KPMG to replace Deloitte at petrol forecourt giant

Deloitte has resigned as auditor to EG Group, the company set up by the billionaire Issa brothers who have also recently acquired supermarket giant Asda, and is to be replaced by KPMG