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Blogs & Insights

Capital Acquisitions Tax – Agricultural Relief

The 2015 Budget, introduced in October 2014, proposed a number of changes in relation to Agricultural Relief contained in Capital Acquisitions Tax legislation. Following the enactment of the subsequent Finance Act, The Revenue Commissioners have issued a short guide which outlines how the new provisions will be implemented in practice. Here is an overview. The […]

New Pensions SORP 2015

The new Pensions SORP which provides guidance for producing pension scheme accounts was launched on 25 November 2014 following the publication of FRS 102. The changes detailed in the new SORP are mandatory for accounting periods commencing 1 January 2015 and comparative data is required. The key new requirements cover: Investment risk disclosures Valuation hierarchy […]

Flexible Pensions to go ahead in 2015

In his March 2014 Budget, the Chancellor announced that there would be significant changes to allow individuals to have greater access to their pension funds from 2015. The proposed changes have been consulted on during the summer and the Treasury have now published the outcome, together with draft pensions legislation, enabling the new flexible regime […]

Better Assurance – How to Escape from “Audit Groundhog Day”: Idea 2: Co-produce IT!

The diagram below is a well-known COBIT framework of IT Governance and Control. It sums up all the key areas that Board of directors have to put in place and carry out in order for their organisation to thrive. What can auditors do to help make this happen? What must auditors stop doing in order […]

Happy holidays! How safe is your car?

Each day we see more products and services to make our life easier, simpler, faster and cheaper. One new service is the airport meet and greet service which allows you to park next to the airport and then walk into the airport terminal.  Whether you are travelling on business or a large family wanting to […]

New Renewables Obligation: Sustainability Audit – Guidance for Operators and Auditors

Ofgem issued guidance on how to comply with the annual sustainability audit report requirements under the renewable obligations in England, Wales and Scotland for operators and auditors on 1 April 2014. The Renewables Obligation (RO), the Renewables Obligation (Scotland) (ROS) and the Northern Ireland Renewables Obligation (NIRO) are designed to incentivise large-scale renewable electricity generation […]

Pensions SORP ED out for comment as FRS 102 deadline approaches

Issued by the Pension Research Accountants Group (PRAG), the ED of the Statement of Recommended Practice Financial Reports of Pension Schemes (SORP) has been significantly updated to reflect changes in accounting standards, regulations and the pension industry since the previous SORP on pension scheme financial reporting in 2007. The main changes proposed in the ED […]

Wi-Fi Access – ANYWHERE on Earth…

Iridium Communications has launched its new Iridium GO! device which uses satellite communication technology to give smartphone users Wi-Fi access anywhere on Earth. Using Iridium’s network of 66 satellites and ground network infrastructure, Iridium’s new Wi-Fi device means you can access your email pretty much anywhere. The Iridium GO! aims to let up to five […]

Key Points from the UK Budget 2014

The Chancellor’s March 2014 was clearly aimed at winning the votes of savers, pensioners and those paying for expensive childcare with increases in ISA limits, a £5,000 zero rate band on savings income, more flexible pension drawdown rules and an increase in the proposed childcare tax relief to £2,000. There was also good news for […]

How to Escape from “Audit Groundhog Day”: Idea 1: Have a rethink!

New thinking for innovation in audit comes from the RSA (Royal Society of Arts) and the ICAEW (Institute of Chartered Accountants England & Wales) in a joint report Enlightening Professions? A vision for audit and a better society. This report reworks our thinking on how audit could flourish. Andrew Riley was at the launch event […]

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