Ahead of the 2020/21 reporting cycle, the UK’s Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting, revealing the top ten areas the FRC has identified as requiring improvement.
Confine people to their homes; shut the shops; spending goes down; GDP suffers. It may seem like common sense that stronger Covid-19-related restrictions, while essential for public health, would result in a lower GDP, but anecdata isn’t real data.
What do your mortgage, your car, and maybe even your fridge have in common? They are all either already or could soon be reliant on AI and machine-learning (ML) algorithms.
Will the UK forge ahead with the European Single Electronic Format (ESEF) in January 2021, as originally planned? Or will the current consultation result in a delay, giving the country time to get its post-Brexit house in order?
The past few months have demonstrated just how important timely, accurate data is to making the right policy decisions – and how a lack of coherent data can even cause significant damage.
Following the UK Financial Reporting Council’s (FRC’s) recent demands for the big four audit firms to separate audit from other business practices, Deloitte has announced plans to establish an independent Audit Governance Board (AGB).
This week the UK’s Financial Reporting Council (FRC) announced their plan for the first structural overhaul of the big four accounting firms since the failure of Carillion in 2018 prompted calls for audit regulation reform.
The UK’s Financial Conduct Authority (FCA) recently announced the launch of their new user-friendly data collection platform, RegData.
In December 2019, Sir Donald Brydon recommended improvements to the Internal Controls over Financial Reporting (ICFR) as part of a reform agenda in UK audit. More effective ICFR could provide management and users of financial statements with better quality information and facilitate better decision-making. A new ICAEW report explores the scope of a future UK […]
In difficult times like these it is especially useful for firms to have a clear picture of any upcoming regulatory changes that they need to prepare for. That’s why several of the UK’s regulatory authorities have launched the Regulatory Initiatives Grid initiative, designed to act as a roadmap which will help financial firms prepare for […]