Accounting & Finance

18 December 2019

Is the FRC considering whether Sarbanes-Oxley should cross the waters?

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.”

Christina Orthodoxou

28 May 2019

New ICAEW sanctions guidance on criminal convictions, cautions and Anti-Money Laundering

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.

Julie Norris

1 April 2019

Think before you tweet – the perils of social media for the accountancy profession

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.

Charlotte Judd

21 December 2018

CMA and Kingman confirm sea-change for the audit sector

In November of this year we blogged on the Financial Reporting Council’s (‘FRC’) recently published report ‘Developments in Audit’ and highlighted that the FRC’s review was running in parallel with the Competition and Markets Authority (‘CMA’) review of the sector. As we reported, such extensive review has been triggered following the high-profile collapses of companies such as Carillion and BHS.

Charlotte Judd

5 November 2018

FRC strategic review 2018: Developments in Audit

The high profile collapses of companies such as Carillion and BHS have reignited the debate about the effectiveness of statutory audit. In the FRC’s recently published report, Developments in Audit, the FRC grapples, not for the first time, with how to ensure that audit properly serves the public interest. Auditors can expect some pretty radical changes.

Julie Norris

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