The FRC has published a Thematic Review of disclosures following the introduction of IFRS 9 / 15, and their Press Release accompanying the Thematic Reviews states: “Companies have responded positively to newly introduced reporting requirements for Revenue Recognition and Financial Instruments but there is still considerable scope for them to improve the quality of their […]
Our suite of Corporate Manuals has been updated to reflect the amendments that come into force for accounting periods commencing on or after 1 January 2019. The introduction of FRS 102 (March 2018), IFRS 16 and new legislation affecting the Strategic Report and Directors Report, as well as a few enhancements made to the methodology, […]
The Solicitors’ Regulation Authority (“SRA”) has released an initial batch of guidance in respect of the new SRA Accounts Rules.  This is available on their website, and covers the following areas: Accountant’s report and the exemption to obtain one; Do I need to operate a client account?; Helping you keep accurate client accounting records; Joint […]
The Regulation of Property Agents Working Group has published a Final Report, proposing changes to the way in which the section is regulated. The Press Release accompanying the issue of the report highlights that the key recommendations made by the report are: A model for an independent property-agent regulator, including how it will operate and […]
The July/August edition of ICAEW’s Audit & Beyond magazine (for Audit and Assurance Faculty members) includes Simon’s latest article entitled “Grand plans”, which provides tips on how to finesse your audit planning and provides guidance on how to avoid common weaknesses.  The article can be accessed here:  
At a recent Solicitors Conference hosted by the ICAEW, which included presentations by the SRA (“Solicitors Regulation Authority”), the following were highlighted: A solicitors’ practice currently complying with the SRA Accounts Rules 2011 will be able to comply with the revised Accounts Rules with minimal adjustment (although it will be necessary to make adjustments to […]
The Council for Licensed Conveyancers (“CLC”) has issued a consultation, which runs until 21 June 2019, as to how their Accounts Code can be amended.  The Summary within the consultation document highlights the following: “Whilst ensuring that appropriate levels of consumer protection are maintained, the CLC’s objective in reviewing the Accounts Code is to: Remove […]
The HAT Compliance Manual, covering the requirements of the Money Laundering Regulations 2017, Audit Regulations and ICAEW Practice Assurance Scheme has recently been updated.  The main amendments which have been reflected in this update relate to GDPR, MTD and requirements relating to BOOMs from an Anti-Money Laundering (AML) perspective, given that there have been changes in each […]
We are pleased to announce that our Corporate Working Papers and Unincorporated templates have been updated, incorporating the latest technical changes (including IFRS 9 and 15) and improved functionality.  Firms using the templates should have received the release last week but copies of the release notes can be obtained here.  If you have questions about […]