ACCA has welcomed the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) as an important step towards the better allocation of capital, by incorporating the effect of climate change in investment decisions. Yen-pei Chen, subject manager – corporate reporting at ACCA said: The four thematic areas of the TCFD’s...
The AICPA applauded the U.S. House of Representatives today for passing the Mobile Workforce State Income Tax Simplification Act of 2017, H.R. 1393.  The bill would simplify state income tax reporting and withholding rules for employees who sometimes work outside their home states. “The House’s passage of the Mobile Workforce State Income Tax Simplification...
The IESBA has released for public comment the Exposure Draft, Proposed Application Material Relating to Professional Skepticism and Professional Judgment.The proposed guidance for the first time links key concepts in the IESBA Code of Ethics for Professional Accountants (the Code) and clarifies their application, namely: how compliance with the fundamental principles...
New accounting rules for small companies has led to Companies House rejecting accounts filed with them, due to uncertainty over filing options ICAEW has warned. The accountancy and finance body has published updated guidance to help small companies and others understand the filing options under the new regime. Recent changes...
IFAC and ICAEW have announced the release of their new report From Crisis to Confidence: Good Regulation, Governance, and Culture. The report is an output of a July 2016 roundtable discussion convened by IFAC and ICAEW, which brought together 50 UK and EU chief and senior executives from business and regulatory bodies....
The FRC supports the need for change in the relationship between business and society. As the guardian of the UK Corporate Governance and Stewardship Codes, the FRC is keen to explore how it can ensure governance and investment are more closely aligned with the broad public interest. Commenting after the...
The first Manifesto for Fighting Economic Crime is published today by CCAB, the collective of five accountancy bodies - ICAEW, ACCA, CIPFA, ICAS and Chartered Accountants Ireland - highlighting four key public policy areas for improvement to the effectiveness and capabilities of anti-money laundering (AML) in the UK. Including a...
ICAEW has submitted its application to become an approved regulator and licensing authority for 5 reserved legal activities, restricted in 3 of them to the area of taxation. It follows ICAEW becoming an approved regulator and licensing authority for probate in 2014. The Legal Services Act 2007 opened up the...
Following the conclusion of the latest annual review of FRS 101 Reduced Disclosure Framework the FRC has issued Amendments to FRS 101 – 2015/16 cycle and FRED 65 Draft amendments to FRS 101 – Notification of shareholders. The amendments to FRS 101 are limited, and predominately provide exemptions from many...
The Financial Reporting Council will introduce public tiering of signatories to the Stewardship Code in July 2016 to improve reporting against the principles of the Code and assist investors. Improved reporting will help asset owners judge how well their fund manager is delivering on their commitments under the Stewardship Code;...