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Small businesses in the UK are exempt from audit, and today the Department for Business, Innovation and Skills (BIS) confirmed that this includes businesses newly defined as small following changes to the accounting thresholds.

In a written stateme...

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If the cost of Christmas was more expensive than you planned for, don’t worry. Throughout the first half of 2016 analysts are predicting that the cost of goods on the high street is expected to drop further, partly fuelled by continuing falls in oil...

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The FRC has issued, for consultation, a revised Ethical Standard (the ‘FRC ES’).  It is intended to replace the Auditing Practices Board’s (APB) Ethical Standards for Auditors 1 to 5. 

Whilst the current standards adopt a threats and safeguards a...
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, proThis is a very important question and one which the profession needs to consider very carefully. I have quite often heard people say that having the right people is the most important factor in achieving good audit quality. But do we all agree ...
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Heading off cyber security threats to business is one of the UK’s top priorities.

My ICAEW colleagues and I have been working closely with government departments and agencies to ensure that the reputation of Britain as a great place to do ...
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I was astoundingly lucky to be asked to attend the recent One Young World conference in Dublin on behalf of the ICAEW and Chartered Accountants Worldwide. OYW was undoubtedly the most thought-provoking, humbling, life-affirming, heartbreak...
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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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In our recent webinar - this is the future, do you understand it? - we confronted some big themes and debated how they might affect the decisions you make in running a practice.

While Nick Williams from Intuit and Stephen Corner from Barnes Roffe...

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In this blogs around Tomorrow’s Practice, I thought I’d introduce myself and the scope of the project. I was a business journalist from 1989 until 2012, writing about how organisations and businesses – sometimes in fairly specific ...

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During my travels around the country talking to businesses and chartered accountancy practices a subject that keeps cropping up is the raising of the audit threshold – the level at which businesses can be exempt from having an audit of their busines...