Accountancy

ASB chooses not to amend FRS 20/IFRS 2

11 April 2007
The Accounting Standards Board (ASB) has decided not to amend the FRS 20 (IFRS 2) standard ("Share-based Payment") where it is applied to subsidiary companies who grant options over the equity shares of the parent company.

Independent Irish accountant regulator opens for business

11 April 2007
A new body that will regulate 16,000 accountants in Ireland has begun operating.


CIOT hits out at HMRC's 'Alice in Wonderland' rules

11 April 2007
The Chartered Institute of Taxation (CIOT) has hit out at HMRC for a draft penalties legislation clause.


ICAS calls for extension of audit partner rotation

05 April 2007
The Institute of Chartered Accountants of Scotland (ICAS) has called for the mandatory rotation of audit engagement partners to be extended beyond five years.


MSCs attempt to circumvent new tax rules

05 April 2007
Some managed service companies (MSCs) have been attempting to get round tax rules by claiming they are accountants, Accountancy Age reports.


Financial institutions to report on card fraud

02 April 2007
New rules will mean that the onus of reporting card, cheque and online banking fraud will be on financial institutions rather than consumers.


Audit Scotland publishes revised Code of Audit Practice

30 March 2007
Audit Scotland has introduced a new Code of Audit Practice, saying that recent developments in auditing approaches have made a revision appropriate.


FRC proposes structure overhaul

30 March 2007
The Financial Reporting Council has announced proposals aimed at improving its governance structure.


FRC increases business levy rates

28 March 2007
The Financial Reporting Council (FRC) has published its proposals for its business levy for the 2007/08 period, including a minimum levy payable by all companies.


E&Y lands Islamic finance award

28 March 2007
Big Four accountancy practice Ernst & Young has been praised for its Islamic financial services.


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