Audit aftershock
Article Abstract:
The 2004 hike in the audit exemption threshold, from Pounds Sterling 1 million to Pounds Sterling 5.6 million, had the impact of an earthquake on smaller accountancy firms in the UK, and the rights and wrongs of the move inspired a controversial debate within the profession. The Department of Trade and Industry (DTI) in 2006 is considering raising the threshold turnover by another 20%, although this hike is more likely to be an aftershock for auditors compared to the seismic change three years earlier.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2006
User Contributions:
Comment about this article or add new information about this topic:
The new money laundering rules-a special report
Article Abstract:
An insight into new money laundering rules, which require accountants to report suspicious client transactions to the authorities, is provided. The final version of the Money Laundering Regulation 2003, which will be in effect on 1 March 2004, includes a provision to ensure that legal profession privilege is not neglected in cases where someone other than the actual lawyer encounters it.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
Vultures at the fray
Article Abstract:
The impact of Sarbanes-Oxley and the change in the corporate governance environment that is leading the law firms to seek new recruits to enable them withdraw the non-audit fees, the option which they earlier had received from audit clients, is analyzed. It is proposed that this process is destroying years of trust built up between adviser and client.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: WhatE s new. WhatE s new for June 2003 financial reports?. Matter of trust
- Abstracts: Mine over matter. . The business of business ... is society. Getting a grip on your cash: don't offer treasures fancy systems. What they want are cost-effective cash controls
- Abstracts: Push here for fun. The latest in validator technology. Dance to the music
- Abstracts: Eco-friendly insect management. Reverse engineering gene regulatory networks. Genetic engineering of an immunotoxin to eliminate pulmonary vascular leak in mice
- Abstracts: Accountants unite in OFR tirade. The cheats of Versailles. Taxpayers face 60 sterling pound-a-day fines