Practice & Industry

Insight / Impact on culture key to senior managers regime

Named senior managers need to abide by a regime that governs acceptable behaviour in FCA-regulated sectors, warns Mayer Brown partner James Whitaker

Insight / Covid-19: updated furlough guidance

HMRC has updated its guidance for employers on making claims under the Coronavirus Job Retention Scheme (CJRS) to reflect changes to the furlough scheme from 1 July, including flexible working

Insight / Big firms making small steps back to the office

As the Big Four and mid-tier accountancy firms prepare for a partial return to office life, Philip Smith looks at what steps are being taken to protect their staff

Insight / Accounting firm numbers decline as bookkeepers boom

The number of UK accounting firms was beginning to decline prior to the Covid-19 pandemic, but bookkeeping businesses are in an accelerated growth phase, according to research by cashflow specialist Float

Insight / Covid-19: FRC issues guidance on AGMs

The Financial Reporting Council (FRC) has published guidance on best practice for annual general meetings (AGMs) in light of the temporary measures the government has introduced to assist companies in managing the impacts of the coronavirus pandemic

Insight / Covid-19 kicks £1bn hole in football league finances

Premier League football clubs are set to lose around £1bn in revenues as a result of Covid-19, having seen their combined revenues break the £5bn barrier last season, according to analysis from Deloitte

Insight / Covid-19: £38m debt advice support package

An extra £37.8m will be available to debt advice providers this year (20-21) so they can continue to provide essential services to help more people who are struggling with their finances due to Coronavirus, minsters have announced

Insight / Richard Hughes named new OBR chair

Richard Hughes, an economist who has worked for the Treasury, the International Monetary Fund (IMF) and an independent think tank, is set to take over from Robert Chote as the new chair of the Office for Budget Responsibility (OBR)

Insight / Action urged on £107bn ‘unsustainable’ business debt

By March next year, UK businesses are likely to face between £97bn to £107bn of unsustainable debt, around half of it owed by SMES, according to research from an industry taskforce which says failure to reduce this debt burden will risk their recovery from the Covid-19 crisis

Insight / Local councils urged to tackle procurement fraud

The Ministry of Housing, Communities and Local Government (MHCLG) has published advice for councils in England on preventing fraud during the procurement process, after almost a quarter reported incidence of losses

Insight / Boosting payroll professionalism

As a new body launches for the payroll industry, Chiene + Tait’s Neil Cameron highlights the increasing importance of standards in a profession at the centre of implementing government policy during the Covid-19 crisis

Audit / Deloitte drops Lookers audit

Troubled car dealership Lookers has announced a further delay in publication of its 2019 results, already deferred to the end of this month, and is seeking a new auditor after Deloitte revealed its intention to resign after 14 years in the role

Audit / FRC ends Tesco probe with no disciplinary actions

The Financial Reporting Council (FRC) has closed its five-year investigation into accounting irregularities at Tesco, and has dropped plans to take any further disciplinary action regarding accountants working at the supermarket chain, having also earlier halted its probes into auditor PwC and ICAEW members

Insight / PwC takes over Taylor Wimpey audit from Deloitte

FTSE 100 house builder Taylor Wimpey has appointed PwC as its external auditor, following a competitive tender process, replacing incumbent Deloitte

Insight / Covid-19: £10bn trade credit insurance confirmed

The government has confirmed it is to guarantee up to £10bn of trade credit insurance (TCI) coverage, to support thousands of businesses by protecting against customer defaults or payment delays during the current pandemic