FRC launches new minimum standard for audit

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The FRC said that by setting out clear expectations and guidelines, it aims to support the delivery of high-quality audits and reinforce public trust in the financial reporting process The Financial Reporting Council (FRC) has unveiled a new minimum standard for audit, which … Read More

ISSB transition respite will provide ‘more consistency’

The IFRS’ newly-announced transitional reliefs may reduce the burden on companies preparing for the rollout of enhanced sustainability disclosures in January 2024, according Richard Singleton, finance and sustainability director at Menzies. The ISSB revealed that it will offer transitional aid … Read More

FRC outlines three-year plan as costs to rise £6.5m

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The FRC said it has ‘already taken numerous steps’ towards achieving the goals of the reform program. The Financial Reporting Council (FRC) has published its latest three-year plan, outlining its priorities and objectives for the period 2023-2026. The FRC revealed it anticipates … Read More

Changes abound – adapting to the new audit landscape

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Against a volatile geopolitical and economic backdrop, 2023 is shaping up to be another critical year for the audit industry. Following three years of pandemic-induced restrictions and disruptions to “traditional” working patterns and practices, a renewed push for audit reform … Read More

Look out, there’s a skills crunch ahead!

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Demographic trends and changing work patterns have set the profession on the road towards an inexorable collision between supply and demand. What can accountants caught up in the skills crisis do to come out unscathed? There’s nothing more frustrating than … Read More

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