FASB plans two new proposals to simplify accounting
March 26th, 2015
FASB took steps to simplify accounting in two areas last week when it voted to direct the board’s staff to prepare a pair of proposed Accounting Standards Updates. Upon written approval by FASB, the proposals would be exposed for ...
Grant Thornton on the end of £49m negligence claim
March 18th, 2015
The UK arm of the world’s sixth largest accountancy network is facing the claim for audit and advice work provided to Manchester Building Society between 2006 and 2013. The claim relates to ‘the implementation and application of hedge accounting’, ...
Final regulations amend broker basis reporting requirements
March 16th, 2015
The IRS issued final and temporary regulations that provide rules for brokers to report bond premium and acquisition premium as well as govern information reporting of transactions involving debt instruments and options, including the reporting of original issue discount ...
HMRC issues almost £100m in tax return penalties
March 11th, 2015
Tax payers could find themselves with a daily penalty increase if they continue to fail to submit their return HMRC has issued 890,000 people with a £100 penalty fine for failing to complete their tax returns by the 31 ...
PwC retains FTSE 100 audit lead as KPMG climbs 250 rankings
March 5th, 2015
PWC continues to dominate the FTSE 100 with 40 clients, almost double the number of nearest rival KPMG at 24, although Deloitte added a brace of new clients to its books, according to the latest statistics from Adviser Rankings. Fourth ...
Events – Conferences – Seminars
February 26th, 2015
Stay updated with coming Live Events, Conferences and Seminars for Forex Market, Accounting, Legal Banking and in general on Business, Finance and Investments
FATCA registration guidance updated to publicise time lag
February 26th, 2015
HMRC has updated its Foreign Account Tax Compliance Act (FATCA) registration guidance to inform of the time lag between registration and reporting FATCA requires financial institutions (FIs) outside the US to pass information about their US customers to the ...
Barclays loses High Court battle with Grant Thornton
February 23rd, 2015
Judge rules in favour of Grant Thornton in High Court battle with Barclays over Von Essen Hotels Group audits BARCLAYS has lost its High Court spat with Grant Thornton over non-statutory audits for Von Essen Hotels Group (VEH). The legal ...
KPMG SME foray doomed to fail
February 18th, 2015
KPMG is doomed to fail as the Big Four firm attempts to wrest business from High Street practitioners, according to Accountancy Age readers. That was the majority view when asked if the Big Four firm “can compete with the high street for ...
Hodge delivers fresh attack on tax avoidance
February 12th, 2015
Professional tax advisers heard some tough talking from Margaret Hodge MP, chair of the Public Accounts Committee, when she spoke at an ICAS Business Insights event in London on 10 February. The Labour MP for Barking said: “There are too many ...
