Mondaq UK: Accounting and Audit
FRS102 is the new accounting standard that will replace UK GAAP and become the accounting standard applicable in the UK and Ireland.
Following the exposure drafts issued in 2010 and 2012, The Financial Reporting Council has issued the final version of three Financial Reporting Standards.
A discussion on cloud accounting.
Concerns over the accounting for off-balance sheet arrangements and special purpose vehicles has led to the introduction of new accounting standards.
Sonya talks about having an absolute focus on quality, striving to improve audit communications, and how she delivers tangible value to clients.
Judith discusses the responsibilities of auditors to shareholders and getting the support and skills needed to face new challenges, including working on complex, multinational audits.
We provide external audit services for over 70 registered providers of social housing ranging from large groups with over 50,000 units operating all over the country to small, more local or specialist associations with less than 100 units.
The audit is an opportunity to challenge management constructively and identify areas for improvement and efficiency.
Online accounting software, commonly known as ‘cloud accounting’ software, is revolutionising the way financial management systems are accessed and managed.
This case includes a detailed examination of what documents a person with audit rights over "books of account" is entitled to see.
It is true that accountants are well ahead of most other professions when it comes to risk management and certainly, the "big four" have had in place risk management processes and dedicated resources far earlier than solicitors.
An increase in the vulnerability to fraud, but not necessarily an increase in the use of analytics and fraud risk assessments.
Orion (a publishing company) assigned worldwide television, film, radio and audio-visual rights in a children’s fictional character (Horrid Henry) to Novel.
On 6 September 2012 the Government published its response to the Department for Business Innovation and Skills’ consultation paper "Audit exemptions and change of accounting framework" which detailed the Government’s decision to reform the rules on accounts and audit for companies and LLPs.
The International Auditing and Assurance Standards Board (IAASB) issued in June an Invitation to Comment on proposed changes to the standard auditors’ report.
From 1 October 2012, subsidiary companies will no longer need to have their annual accounts audited provided that, among other things, their parent company agrees to guarantee all liabilities of the subsidiary that are outstanding at the end of that financial year.
It's tough being a CFO these days. You're facing complicated decisions on many fronts, and knowing exactly how to proceed at any given time is harder than it looks.
In the current economic climate, the questions are many
Revised IASB proposals could affect the way income is recognised, writes Nick Randall.
The Accounting Standards Board (ASB) has published revised exposure drafts on the future of financial reporting in the UK (a copy can be found here).
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Financial Planning & Analysis (FP&A) outsourcing is increasingly being used by leading global firms to provide a competitive advantage while others are using the opportunity to uncover additional savings by leveraging a wide range of service delivery options and process improvements to reduce costs and generate additional value.
Recent revisions to IAS 19 may have a significant effect on the financial statements of IFRS preparers with defined benefit (DB) pension schemes.
A discussion on cloud accounting.
It is true that accountants are well ahead of most other professions when it comes to risk management and certainly, the "big four" have had in place risk management processes and dedicated resources far earlier than solicitors.
Three new proposed accounting standards from the Accounting Standards Board (ASB) are set to change the face of UK financial reporting.
Following the exposure drafts issued in 2010 and 2012, The Financial Reporting Council has issued the final version of three Financial Reporting Standards.
In Airmax Industries v. Banque de Montréal1, the Quebec Superior Court held that the Bank, far from being protected from liability by its contract, had been grossly negligent.
The Deloitte Touche Tohmatsu Limited (DTTL) Global Manufacturing Industry group’s 2012 outlook for the global aerospace and defense (A&D) industry is a tale of two industries.
Concerns over the accounting for off-balance sheet arrangements and special purpose vehicles has led to the introduction of new accounting standards.
Finance Act 2011 amended s27 of CTA2010 so that where there is no substantial commercial interdependence between two companies, they will only be under common control for the purposes of the small profits rate by assessing control under CTA10 s451 ignoring the interests of any associate of a person or company (i.e. ignoring attribution according to CTA10 s451(4) and s451(5).
