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IASeminars Blog

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Archive by category: Industry NewsReturn
October 2019
The Financial Reporting Council’s new Chairman has accelerated plans to create a new regulator in order to discipline auditors and company directors. The new chairman, Simon Dingemans, took the role after Win Bischoff stepped down following a damning report on the effectiveness of the regulator.
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In response to amendments made to the IFRS 17 standard by the International Accounting Standards Board, global insurance and reinsurance broker Willis Towers Watson, have highlighted a number of areas which require improvement.
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An accounting Error at M&C Saatchi has forced the company to downgrade its profit forecast in their half year report. The agency announced a charge of £6.4m to the group’s annual results back in August after an internal review exposed mistakes within their accounting.
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September 2019
It’s Monday morning and a busy week stretches out ahead of you. There are meetings, reports, proposals and deadlines! It’s all too easy to feel overwhelmed and for the symptoms of stress to build in the background.
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So far a handful of fashion retailers have detailed their costs to date with regards IFRS 16. The impact of IFRS 16 should be neutral in the long term but it may not always seem that way when companies account for the new measure in their reporting.
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There are still some uncertainties around the amendments and stakeholders have until 25 September to respond to the June 2019 Exposure Draft, “Amendments to IFRS 17”.
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August 2019
The Financial Accounting Standards Board has issued a proposal which offers insurers an extra year to comply with the new rules.
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May 2019
Andrew Munday, the former accountant of singer Rita Ora and rugby international Matt Dawson, has been jailed for more than five years after committing a £3.5 million fraud.
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This great article looks at future projections for the profession covering 6 domains of core knowledge and skills that management accounts need to remain relevant. These range from strategy, planning and performance to leadership, ethics and values.
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April 2019
If you have an accounting period beginning on or after 1 January 2019, you will likely find yourself coming up against IFRS 16. This is a major change for how leases are treated and eliminates nearly all off-balance sheet accounting for leases.
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