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2012 will be another year of uncertainty for UK businesses, with scaled down investment plans, reluctance to take on new staff, pay remaining flat, and exports at a standstill. It’s a grim picture.
That’s the forecast from the ICAEW/ Gra...
Yesterday I took our campaign for better HMRC service standards to the Small Business Economic Forum which brings together business bodies, banks and BIS ministers together to talk about some of the major challenges facing SMEs. From my experience, ...
As the 2011 year-end bank reporting season starts, financial institutions, their auditors and financial report users must be particularly alert.
Tough economic times always mean additional challenges for auditors. In a period of serious ...
Reading the Financial Times' Capitalism in Crisis series this week has made me think again about the relationship between business and society.
Over the past few years we have seen major failings in capitalism, with pay rewarding fa...
There’s an expectation gap between what audit does and what people think it does, that’s become clear in recent years.
We are asked, what is it there for, are auditors corporate policeman, are they a safety net for management, do we still need...
Plans for local public bodies to appoint their own auditors from an open and competitive market took a significant step forward yesterday, as the Local Government Minister outlined a new local public audit regime.
The new regulatory regi...
With the current economic problems and the increasing number of corporate and personal insolvencies the Government’s look at possible reforms to the regulation of insolvency practitioners was perhaps inevitable. Our current system in the UK has not ...
This is the last month that Accountancy magazine will be sent to all members. Next month, we will be publishing our new magazine economia which will go to all our members as part of their core subscription.
The decision to provide Accoun...
Reading Hilary Mantel’s historical novel Wolf Hall last week, I came across a reference to the arrival of Summa de Arithmetica here in Britain some 400 years ago.
Summa, by Luca de Pacioli, was the book that brought double entry book ke...
ICAEW recently responded to Professor Kay’s call for evidence on UK Equity Markets and Long-Term Decision Making.
We have challenged two implied assumptions in the call for evidence: that short-termism and the internationalisation o...
We set out some thoughts on simpler reporting for the smallest companies last week, responding to BIS and the FRC’s consultation on how to reduce the burden on them.
One of the key suggestions in the consultation is to move to cash-ba...
The long-awaited proposals from the EC for reform of statutory audit are out today. They could reshape the audit profession across Europe.
As you will know if you’ve been following this blog, ICAEW does not agree with all the Commissio...
The Chancellor has succeeded in having his cake and eating it in his Autumn Statement, offering us both austerity and government spending on major infrastructure projects.
He’s also offering a number of measures to help small busin...