News for October, 2016

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October 31, 2016

Thematic review encourages greater clarity around reporting of tax uncertainties

The FRC has issued a thematic review undertaken by its Corporate Reporting Review (CRR) function on certain aspects of tax reporting in company annual reports and accounts.

October 27, 2016

Tax Planning

The 2016/17 edition of Tax Planning is now live for subscribers.

October 27, 2016

Stamp Taxes

The 2016/17 edition of the Stamp Taxes annual is now live for subscribers.

October 25, 2016

Consultation on revised guidance for auditors of UK insurers released

Guidance on the application of auditing standards to audits of statutory financial statements in the insurance sector has been published by the FRC.

October 25, 2016

Payroll

Issue 31 of the Payroll Management Service is now live.

October 25, 2016

VAT

The 2016/17 edition of the VAT core tax annual is now live.

October 25, 2016

Adoption of ISAs 800 and 805 approved

The FRC Board has approved the adoption of two new auditing standards for use in the UK, ISA (UK) 800 (Revised): Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks and ISA (UK) 805 (Revised): Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement.

October 24, 2016

Termination of Employment

Issue 55 of Termination of Employment is now live for subscribers to the Employment Law Service.

October 24, 2016

Companies need to achieve balance in the reporting of their performance

Most companies, particularly larger public companies, report in compliance with the accounting framework but there is a need for balance in the reporting of their performance.

October 20, 2016

Consultation into improvements to cash flow statement launched

Improvements to the statement of cash flows have been proposed in a consultation launched by the FRC.

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