A nervous disposition
Julie Matheson and Lucinda Soon consider the implications of the EU-UK Trade and Cooperation Agreement on UK accountants providing services in the EU.
The general election is now over, and Parliament has more time to deal with matters other than Brexit. The spotlight has therefore returned to corporate governance, with The Sunday Times reporting that the FRC is developing a “British version of Sarbanes-Oxley”. It reported that this would “heap more responsibility on to directors, asking them to vouch regularly for the integrity of their financial controls and – if passed into law in the UK – opening the possibility of criminal proceedings against chief executives and finance directors for reporting misleading statements to the market.”
From 1 April 2019, criminal conduct by ICAEW members will be dealt with according to the new version of the Guidance on Sanctions, which simplifies as well as amplifies the 2018 version.
Further changes will follow in July 2019, with the introduction of new guidance for Anti-Money Laundering breaches where the relevant conduct has not resulted in a criminal conviction.
Social media has introduced to professionals a global platform for promoting services to an ever-growing audience in order to network and reach out to new clients. It is increasingly a key focus of marketing strategy. Not only this but it is a space within which professionals can share and acquire knowledge.
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