Practice & Industry

Insight / FCA proposes ‘radical’ reform to motor and home insurance

The Financial Conduct Authority (FCA) is consulting on reforms to the insurance sector, designed to enhance competition, with the proposals predicted to save motor and home insurance consumers £3.7bn over 10 years when they renew existing policies

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

Tax / Call for joined up tax reporting deadline extensions

In the wake of the pandemic, businesses have been given extensions for tax filing and company reporting, but there is still confusion between HMRC and Companies House deadlines. Crowe’s corporate tax partner Laurence Field calls for a more joined up approach

Insight / Covid-19: U-turn on return to work plans

Companies are to be told to put plans for staff to return to work in offices on hold, as the government introduces stricter controls on social and work activity in a bid to contain any escalation in outbreaks of coronavirus

Audit / MHA picks up FTSE 250 miner audit

MHA MacIntyre Hudson (MHA) has been appointed as external auditor to FTSE 250-listed Petropavlovsk, the Russian gold mining company which had previously lined up PwC for the role only for the Big Four firm to decline

Insight / Companies House powers boosted to tackle £137bn dirty money deficit

Companies House will be given greater powers to query, investigate and remove false information in the registration of company directors, in efforts to reduce the potential £137bn lost globally to financial crime, according to Transparency International UK

Accounting / Push for standardised carbon accounting

The Partnership for Carbon Accounting Financials (PCAF), an industry-led partnership to standardise carbon accounting for the financial sector, has launched a UK coalition to further promote measurement and disclosure of carbon emissions in the finance sector

Insight / People in the news: RSM, Personal Finance Society, Government

In this week’s accountancy career moves, partners appointed at RSM and McGuireWoods, president named at the Personal Finance Society, and CFO appointments at Paysafe Group, Energy Assets Group

Audit / Call for Treasury to ensure cash access

The National Audit Office (NAO) is calling on the Treasury to launch a coordinated effort to safeguard access to cash, as Covid-19 has accelerated the move to online transactions, and there is a risk that vulnerable people who rely on paying money will be excluded

Insight / FCA mulls cannabis company listings

The Financial Conduct Authority (FCA) is considering its approach to overseas-based cannabis companies interested in listing in the UK

Insight / PwC pledges to reach net zero emissions by 2030

PwC has committed to achieving net zero greenhouse gas (GHG) emissions across its global network within the next ten years, and will be taking action to support its suppliers and clients in tackling their impact on the climate 

Insight / Changing face of office life

During the pandemic, firms were forced to work remotely, but how do you run a people business without human contact? Smith & Williamson’s Giles Murphy predicts the death of the office could be exaggerated

Insight / Infection rates see government mull Covid lockdown

As coronavirus infection rates rise, the government has signalled it is considering a range of new restrictions to halt the progress of the pandemic, with a two-week return to national lockdown the most extreme

Insight / Pandemic support suppresses insolvency rates

Overall numbers of company and individual insolvencies remained low in August 2020, largely as a result of the government measures put in place in response to the coronavirus pandemic, but look set to rise sharply as support schemes end

Accounting / Deloitte fined £15m over Autonomy auditing failures

Deloitte has been fined a record £15m and severely reprimanded by the Financial Reporting Council (FRC) for ‘serious and serial failures’ in its auditing of software company Autonomy, including ‘numerous’ examples of misconduct and a lack of professional scepticism