Financial and Accounting News

• July 23, 2018 EY Replaces KPMG as Auditor of Beazley FTSE 250 firm Beazley has decided to appoint EY as its auditor replacing KPMG for the financial year ending December 31, 2019. The global insurer firm has taken the decision after conducting a competitive tender ...
• July 18, 2018 FRC Imposes Fine of £18m on Audit Firms during the Previous Year As per a recent research conducted by Thomson Reuters, fines imposed by the UK regulator Financial Reporting Council (FRC) increased by 23% to reach £17.96m during the last year, compared with £14.59m in ...
• July 17, 2018 IAASB Consults on Proposed Changes to ISA 315 The International Auditing and Assurance Standards Board (IAASB) is consulting on making changes to ISA 315 (Identifying and Assessing the Risks of Material Misstatement). The purpose of the auditing standards is to ...
• July 10, 2018 More than One Million Married and Civil Partnered couples Failed in taking Advantage of the Marriage Allowance Since the initiation of the marriage allowance by the HMRC, around three million married couples have benefited from the allowance. However, there still are a significant number of married couples that are yet to benefit ...
• July 9, 2018 FCA Planning to Launch a Financial Services Directory The Financial Conduct Authority (FCA) is planning to publish a new directory to assist firms and consumers in checking the history and status of individuals working in the financial services sector, with the sole ...
• July 6, 2018 SEC Fines the Swiss Investment Bank $30m Over Bribery Charges Credit Suisse is required to pay the US regulator Securities and Exchange Commission (SEC) around $30m as fine to settle charges that the group violated Foreign Corrupt Practices Act (FCPA) by corruptly influencing ...
• July 5, 2018 Simplified Contract to Aid SMEs Wanting to Apply for Government Work In order to make easier for small business organisations to apply for government contracts, the UK government has designed a new public sector contract (PSC) with simplified terms and conditions. The contract is ...
• July 1, 2018 FRC to Open Investigation against Deloitte over SIG Audit The Financial Reporting Council (FRC) has recently launched an investigation into the external audit of SIG plc performed by Deloitte for the years ended December 31, 2015 and December 31, 2016. SIG plc is a UK based ...
• June 22, 2018 Commission Opens an Inquiry against Charity over Poor Financial Controls The Charity Commission has decided to open a statutory inquiry with regards to the dealings of Asthan Babe Ke Trust. The decision to open the inquiry against the trust has been taken in the wake of serious regulatory ...
• June 21, 2018 FASB Updates Accounting for share-based payment Made to a Non-Employee The Financial Accounting Standards Board (FASB) has just released an accounting standards update regarding share-based payments made by the companies to people who are not employees of the company such as service ...