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Latest News - Regulation

Accountants shouldn’t exploit tax regulation loopholes, Accountancy Europe opines

  • Author: Vincent Huck
  • Published: 20 Jul 2017

Accountants shouldn’t devise and promote tax planning structures or arrangements that are designed to achieve a different result than what is.... read more

FTSE 350 audit quality levels on the rise in UK FRC annual report

  • Author: Stephanie Wix
  • Published: 19 Jul 2017

The UK Financial Reporting Council (FRC) has released its 2016/2017 annual report highlighting the regulators projects and actions taken.. read more

Professionals welcome UK government’s delay of Making Tax Digital but concerns remain

  • Author: Stephanie Wix
  • Published: 18 Jul 2017

The UK Government has delayed its plans for the digital transformation of the tax system (MTD) after professional bodies, businesses and MPs raised.... read more

EU expert group calls for convergence of financial and non-financial reporting

  • Author: Vincent Huck
  • Published: 14 Jul 2017

The European Union (EU) High-Level Expert Group on Sustainable Finance (HLEG) has released its first report recommending that the EU Commission.... read more

Sixty eight countries sign a multilateral convention to reduce tax avoidance by multinational enterprises

  • Author: Sarajuddin Isar
  • Published: 8 Jun 2017

Sixty eight jurisdictions have signed a multilateral convention which aims to reduce tax avoidance by multilateral enterprises.. read more

PCAOB censures BDO Hungary and a Deloitte Mexico senior manager

  • Author: Rahman Aziz
  • Published: 7 Jun 2017

The Public Company Accounting Oversight Board (PCAOB) has issued two disciplinary orders censuring BDO Hungary and a senior manager from Deloitte.... read more

President Juncker grilled by the European Parliament Panama Papers inquiry committee

  • Author: Stephanie Wix
  • Published: 2 Jun 2017

The European Commission president Jean-Claude Juncker faced a meticulous questioning about his current and past record on tax transparency and.... read more

European accountancy stakeholders defend EFRAG’s role and record against EU Commission plans of “streamlining”

  • Author: IAB and TA editorial
  • Published: 24 May 2017

Accountancy stakeholders from across Europe have responded strongly against plans from the European Union (EU) Commission of “streamlining” the.... read more

AICPA suggests review of six regulations to reduce tax regulatory burdens

  • Author: Sarajuddin Isar
  • Published: 18 May 2017

As the USA Secretary of the Treasury looks at reviewing tax regulations to reduce regulatory burdens, the American Institute of CPAs (AICPA) has.... read more

IASB issues IFRS 17 in insurance accounting shake up

  • Author: Stephanie Wix
  • Published: 18 May 2017

The profession has welcomed IFRS 17, issued by the International Accounting Standards Board (IASB), however it warned of the complexity and cost of.... read more

CIPFA’s Brexit advisory commission recommends further reform and devolution post Brexit

  • Author: IAB and TA editorial
  • Published: 18 May 2017

The independent Brexit advisory commission for public services, launched by the Chartered Institute of Public Finance and Accountancy (CIPFA) in.... read more

More OECD countries have adopted accrual accounting however IPSAS adoption remains low

  • Author: TA editorial
  • Published: 17 May 2017

A report by the International Federation of Accountants (IFAC) and the Organisation for Economic Co-operation and Development (OECD) highlighted.... read more

PAFA’s outgoing president assesses achievements under her tenure and lays down the priorities for the next board

  • Author: Vincent Huck
  • Published: 12 May 2017

Kampala (Uganda) / London (UK). The Pan African Federation of Accountants (PAFA) outgoing president Asmaa Resmouki, presented her president report,.... read more

ACCA recommendations to tackle cognitive bias in audit

  • Author: Rahman Aziz
  • Published: 12 May 2017

The Association of Certified Chartered Accountants (ACCA) has recommended changes to standard –setting, regulatory and audit process to tackle.... read more

News brief: PwC UK fined £5m for misconduct

  • Author: Rahman Aziz
  • Published: 11 May 2017

The UK Financial Reporting Council (FRC) has fined PwC UK and its former audit partner Stephen Harrisson, £ 5m and £150,000 respectively for.... read more

USA finance professionals call to preserve the Sarbanes-Oxley Act as it is

  • Author: Sarajuddin Isar
  • Published: 9 May 2017

The Centre for Audit Quality (CAQ), the Council of Institutional Investors (CII), and the CFA Institute have jointly presented their opposition to.... read more

EITI calls on Niger to enforce adopted reforms for greater transparency in its extractives sector

  • Author: Stephanie Wix
  • Published: 8 May 2017

The Extractive Industries Transparency Initiative (EITI) has called on Niger's government to enforce reforms adopted in 2010 in order to foster.... read more

EU Data protection rules will directly impact professional accountants

  • Author: Stephanie Wix
  • Published: 5 May 2017

The General Data Protection Regulation (GDPR) coming into force in the EU from 25 May 2018 will apply to everyone dealing with personal data.... read more

Audit committees can contribute further to audit quality, IFIAR

  • Author: Sarajuddin Isar
  • Published: 4 May 2017

Audit committees around the globe should focus on more and better communication as well as defining better criteria that determine their.... read more

FRC publishes framework to improve quality for future digital reporting

  • Author: Rahman Aziz
  • Published: 3 May 2017

The Financial Reporting Council (FRC) Lab has published a framework for future digital reporting, to improve quality and for views to be shared by.... read more

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