It’s that time of the year again when we send out our “course nominations” to HAT member firms whose students / staff have previously attended one of our courses, but bookings are also now open for any other HAT member or non-member Accountancy / Audit practices that would like to make use of our extensive […]
Dilapidations It is often the case that a property lease includes the requirement for the property to be returned to the landlord in the same state as when the lease was taken out. Any changes to the original condition of the property will therefore create a liability to reinstate the property back to that original […]
The assessment of going concern is a complex and contentious issue for the auditor sometimes. No client wants their audit report modified in respect of going concern but many companies are still living in uncertain times! The first part of the battle is to ensure that the client is meeting the requirements of FRS102/ISA1 in […]
Nice of the Financial Reporting Council to give us an early Easter present! The first thing in my inbox this morning was the announcement of the revisions to FRS 102, which are effective for p/c on or after 1 Jan 2026. The biggest changes are to revenue and leasing, as previously suggested. A nice three […]
When assessing the size of a company or group, it can be easy to focus on levels of turnover and gross assets causing the calculation of employee numbers to slip through the net. The requirements for the calculation of employee numbers are outlined in s.382(6) and 384A(7) of the Companies Act 2006. To calculate average […]
At the FATF Plenary Meeting in June, their list of high risk and other monitored jurisdictions was updated, and their Press Release (https://lnkd.in/e9WnyWpY) confirms the following amendments: “Jurisdictions under Increased Monitoring: Jurisdictions under increased monitoring are actively working with the FATF to address the strategic deficiencies in their regimes to counter money laundering, terrorist financing […]
What type of audit report modification (aka “qualification”) do I need to use? This is a question we often get asked on our technical helpline. Auditors are reminded of the requirements of ISA (UK) 705 Modifications to the Opinion in the Independent Auditor’s Report in determining the type of audit report required. The table image, […]
We often receive queries about related party transactions and what should be included on an accounts preparation or audit file. Completing the following steps will ensure that your file contains everything that is needed and give comfort over disclosures within the financial statements: Ensure that the file documents a full list of known related parties […]
The Charity Commission has provided a summary update regarding changes, brought about by the Charities Act 2022, which came into effect on 1 June and include: “Selling, leasing or otherwise disposing of charity land: Charities must comply with certain legal requirements before they dispose of charity land. Disposal can include selling, transferring or leasing charity […]
