In a recent response to the Department of Business and Trade's (DBT) survey on non-financial information, the Institute of Chartered Accountants of Scotland (ICAS) highlighted the significance of non-financial reporting for businesses.
The Financial Reporting Council (FRC) has published the 21st edition of its Key Facts and Trends (KFAT) report, providing the latest statistical information and trends on the UK accountancy and audit profession. This year's report highlights continued growth in accountancy membership, with nearly 40
As students across Scotland receive their exam results this week, accountancy professional body ACCA Scotland is reassuring young people that there’s no right or wrong time to start a career in finance. While results day will be a day of celebration for many, for some young people it will brin
Claiming tax relief for research and development has become harder as businesses claiming tax relief for research and development (R&D) will face stricter scrutiny, following the introduction of new rules this week. This follows concerns from the HM Revenue and Customs (HMRC) about fraud and err
Audit fees for major UK companies have seen a significant uptick over the past year, as the demand for enhanced audit quality has grown following various industry scandals. Data from Thomson Reuters highlighted that the top 500 UK companies, including prominent names such as Tesco, Barclays, and Uni
Scottish businessman Mohammed Ameen Mirza could face jail time after admitting tax evasion. The fifty-eight year old filed fraudlent declarations for his store in Glasgow’s Gorbals and another in Cambuslang, Lanarkshire, in April 2014.
Financial intermediary MAF Finance Group (MAF), which works across the UK, has established a base in Edinburgh to strengthen its presence in Scotland. The business has also appointed experienced lending specialists Nick Elder and Deborah Louden to head up its Scottish operation.
Engineering business Martin Precision Ltd has transferred to employee ownership thanks to advice and support from Glasgow-based Consilium Chartered Accountants. A majority shareholding in the third-generation family business - a global player in the manufacture and supply of precision components for
Accountancy and business advisory firm Azets has raised £12,258.50 for The Archie Foundation following a range of fundraising efforts. Azets staff arranged a corporate golf day, a quiz night and a bake sale to support the organisation - which is the firm's chosen charity of the year.
The Government's proposed Solvency II reforms have the potential to unlock investment by the insurance industry into the UK economy according to new analysis by PwC UK. The refresh of the Solvency II rules will make certain assets more attractive to insurers. This includes infrastructure assets in t
The number of companies filing for administration in Scotland has jumped significantly year-on-year, as cost inflation, rising interest rates and sluggish growth continue to bite Scottish businesses. Analysis of notices in The Gazette by Interpath Advisory has revealed that a total of 23 companies b
The EY ITEM Club has more than halved its forecast for UK economic growth in 2024 – from the 1.9% growth expected in April to 0.8% now – in its new Summer Forecast, reflecting higher-for-longer interest rates and stickier inflation. Positively, the economy’s resilience so far this
Confidence among the finance leaders of the UK’s largest firms has dipped in the second quarter, partially unwinding the sharp rise in sentiment seen in Q1 2023, according to Deloitte’s UK CFO Survey Q2 2023. A net -10% of CFOs are more optimistic about their firm’s financial prosp
Chris Tate, a restructuring and recovery expert at Azets, has said that new financial pressures are continuing to drive business failures across the UK, with the hospitality sector most vulnerable to stubbornly high inflation – causing a "perfect storm to brew". The warning comes as new monthl