The Financial Reporting Council (FRC) have released a proposed amendment to FRS 102/ FRS 105 dealing with COVID-19 related rent concessions. Where a rent reduction or rent holiday has been granted, it is proposed that the change in lease payments will simply be recognised over the periods that the change in lease payments is intended to […]
Companies House has announced an automatic three month extension for all filing deadlines which well any time from 27 June 2020 to 5 April 2021 (including these dates). Whilst this will be welcomed by many clients and their accountants this will defer work and postpone cash inflows for many accountants and will also result in a […]
Charity regulators in the UK have issued supplementary guidance for independent examiners to highlight areas where current restrictions (or any other national emergency) may create challenges or pose difficulties for when an independent examination of a charity’s accounts is being performed. The following is an Executive Summary of the issues to be aware of: “This […]
It is with great pleasure that we announce the appointment of Andrew Jarvis as our new Managing Director. Andrew has been with HAT since 2005 and is looking forward to taking the company forward. On his appointment, Andrew commented “I am delighted to become Managing Director of HAT. My key goals are to ensure that […]
The Charity Commission / OSCR / CCNI have issued updated guidance regarding matters of material significance which need to be reported to them (which in usual circumstances, include a qualification / emphasis of matter in an audit report), which states: “Auditors of charities in England and Wales, Scotland and Northern Ireland have a common statutory […]
The current coronavirus pandemic is likely to result in many more audit reports requiring modification than is normal. Working out the correct modification can be difficult where you have not encountered a similar scenario in the past. As the FRC note: The need for a modified opinion may arise because certain audit procedures cannot be performed […]
ICAEW have released an engagement letter schedule for firms to issue where they will be making the claims for the coronavirus job retention scheme grant on behalf of clients. This is available to ICAEW members from the following link: https://www.icaew.com/technical/practice-resources/practice-helpsheets/engagement-letters
We are pleased to announce the release of our latest CaseWare template. This represents a minor update from the previous template issued in late 2019. Full details of the changes made are available in the Release Notes. We appreciate many firms are struggling in the current situation to manage paper files effectively. For details of […]
The Coronavirus (COVID-19) outbreak is having a significant worldwide impact. Whilst everyone’s first thoughts are to keep their loved ones safe, auditors must be alert to the impact that the outbreak is having on their clients. The global economic downturn, restrictions on travel, delays to supply chains, loss of cash flow, amongst other factors, can […]
