Guidance on pension scheme financial reports and audit featuring Covid-19

ISA’s are the International Standards on Auditing. There are regular changes, revisions and new ISA’s implemented across the audit world. A recent revision to ISA 315 is well talked about, due to the significant changes it brings to audits.   ISA 315 covers ‘Identifying and Assessing the Risks of Material Misstatement’ and the revised ISA…

From Monday 3 October 2022, the UK government has changed the ‘small’ company threshold, which is expected to remove 40,000 businesses from certain reporting regulations. Since January 2016, a company qualifies as ‘small’ in the year that it does not exceed two or more of the following: Annual turnover:                                   £10.2m Gross Assets:       …

Arising from the current COP26 global warming conference, Sage, The ACCA and the ICC have called on urgent action to be taken to standardise and simplify carbon reporting to help SMEs join the race to Net Zero. Their new report titled ‘Think Small First’ calls on policymakers to remove the existing administrative burdens that come…

Companies that require their accounts to be audited, and hold significant levels of stock at their year-end, expect a visit from their auditors annually to perform test counts of their stock.   However, during the current lockdown, auditors are considering other ways to gain the assurance they need over the stock levels held. Some suggestions…

Whether unincorporated, a charitable company or a CIO (charitable incorporated organisation), charities are required to have certain levels of assurance over their financial statements depending on their size. The limits are much smaller than companies, meaning that many charities require some sort of external scrutiny. The requirements by size are as follows: Income up to…