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The Department for Business Innovation and Skills (BIS) has today released proposals outlining how it intends to implement the new EU Accounting Directive (‘the Directive’) in the UK.

The Directive, which replaces the longstanding 4t...
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This was the running theme at one of our latest company meetings where we had the opportunity to get together, which is crucial to the development of the team and overall success of the business.

With help from an external facilitator we used our...
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New EU rules exempting more small and medium-sized businesses from having to have an annual audit could damage the ability of SMEs to access bank lending if they decide to opt-out.  
 
Many small and medium-sized businesses are likely to...
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Over the past year, the Audit and Assurance Faculty have worked to get our technical ducks in a row on audit exemption. Now I'm looking for your feedback.

We're expecting a world in which most companies can choose whether or not to have an audit....
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The old ICAEW Assurance Service is being replaced by new, internationally recognised, assurance review engagements. What is the difference?

 

Background

 

On 23 October 2013, ICAEW published TECH09/13AAF Assurance review engagements on...

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When the European Parliament voted in the new Accounting Directive, a subtle change expanded the permitted definition of a small company. Could the UK use this to extend audit exemption? What might that mean for SMEs and their auditors?
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Social media is a highly effective tool for sharing your expertise and voicing your opinions (that is, ‘pushing’ information to friends, fans and followers). What may be less obvious to some is that social media is also a powerful resour...
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Small companies – reduced disclosures?

The EC is also currently discussing changes to the accounting directive itself that will affect all small companies not just ‘micros’. With the aim of cutting red tape for small businesses...

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SMEs and Business Confidence

Last week saw the release of the Q4 ICAEW/Grant Thornton Business Confidence Monitor (BCM) report.  The findings highlighted the largest decline in the Business Confidence Index (BCI) since the height of the re...

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Contribute to ICAEW's response to the BIS audit exemption consultation.