Client Money
1st November 2016Solicitors: New rules for handling client money.
The consultation period has now closed on the proposed new rules for how solicitors handle their client money:
Solicitors: New rules for handling client money.
The consultation period has now closed on the proposed new rules for how solicitors handle their client money:
Arising from the current COP26 global warming conference, Sage, The ACCA and the ICC have called on urgent action to be taken to standardise and simplify carbon reporting to help SMEs join the race to Net Zero. Their new report titled ‘Think Small First’ calls on policymakers to remove the existing administrative burdens that come…
A joint guidance has been published by ICAS, ICAEW and PRAG on pension scheme financial reports and audit, with a large focus on Covid-19 matters. The impact of Covid-19 pandemic on the control environment of pension schemes is explored, to help auditors navigate the additional challenges they are likely to experience and help them…
Companies that require their accounts to be audited, and hold significant levels of stock at their year-end, expect a visit from their auditors annually to perform test counts of their stock. However, during the current lockdown, auditors are considering other ways to gain the assurance they need over the stock levels held. Some suggestions…
Whether unincorporated, a charitable company or a CIO (charitable incorporated organisation), charities are required to have certain levels of assurance over their financial statements depending on their size. The limits are much smaller than companies, meaning that many charities require some sort of external scrutiny. The requirements by size are as follows: Income up to…
As the world becomes more digital, it leaves us wondering where further efficiencies could be achieved through switching to more high-tech methods. One possible area for auditors is stocktaking. For an audited entity with significant levels of stock at the year end, it is likely the auditor will want to perform test counts of the…
It is common for entities who undertake research and development to receive grant funding for projects that they undertake. Grants will often be paid on the basis of expenditure incurred or a proportion thereon and may be awarded with certain conditions attached. One such condition for grants above a certain level will be the…