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Today the Financial Reporting Faculty hosted a lively joint event with the Financial Reporting Council (FRC) at Chartered Accountant’s Hall to discuss the UK’s proposed new accounting regime for small and micro-entities. The event brough...
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In March 2015, the UK Government approved regulations, The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015, which introduce significant changes to UK company law. For example:

Increased accounting thresholds.
&a...
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The Department for Business Innovation and Skills (BIS) has today published the Government’s formal response to the comments received on the 2014 consultation paper on the implementation of the new EU Accounting Directive (the ‘Directive...
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Earlier this year the Financial Reporting Council (FRC) issued a consultation paper outlining proposed amendments to UK accounting standards for small entities. These changes were prompted by the approval of a new EU Accounting Directive (the &l...
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According to figures from the Solicitors Regulation Authority, in 2014 around 28 per cent of the profession consists of sole practitioners. Recent changes to licence regulations means that the number of those going solo could well increase.

A repor...

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The Department for Business, Innovation and Skills (BIS) has released its anticipated consultation on plans to implement the new EU Accounting Directive in the UK. Learn more about audit exemption implications, and how to get involved.

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

The Directive, which replaces the longstanding 4th and .....
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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....