Business

Insight / Five weeks until the pound is no longer round

There are only five weeks left until the new 12-sided pound enters circulation on 28 March, with the old rounded coins having to be returned before 15 October 2017

Insight / Gender pay gap 'will not close until 2041'

Opportunities for women in the workplace have rapidly improved in the UK since 2000, but it will take until 2041 for the gender pay gap to close, according to research from PwC

Insight / Brexit: should accountants look overseas for work?

Eight months have passed since Brexit was announced, yet with all the uncertainty still prevailing, how is this affecting the job market for accountants? Simon Wright, operations director at CareersinAudit.com gives his view on whether accountants should stay in the UK or set their sights on new accountancy hotspots elsewhere

Insight / Accounting ranked as fifth most boring job

Two thirds (66%) of accountants are bored at work with the accounting profession ranking fifth out of a roundup of the most boring jobs, according to Emolument, a salary benchmarking site

Insight / Two thirds of UK manufacturers plan to stay put post-Brexit

Two thirds of FTSE 100 and FTSE 250 UK manufacturing executives have no plans to move following the referendum vote to leave the EU, while nearly half are not worried about any potential Brexit uncertainty, according to a survey by KPMG

Tax / EU financial transactions tax plans face further delay

The group of ten EU countries which have agreed to go ahead with a financial transactions tax had an inconclusive meeting in Brussels this week, with differences of opinion emerging over the treatment of pension funds and growing calls for further exemptions to be built into the so-called ‘Robin Hood’ tax

Insight / Women lose out on pension auto-enrolment

Women are being unfairly disadvantaged over pensions, because they are more likely to have multiple low-paid jobs and cannot meet auto-enrolment requirements, according to research by Citizens Advice, which is advocating a change to the rules

Tax / Skilled workers not gig economy fuelling self employment

Analysis from the Resolution Foundation challenges the view that the recent increase in self-employment is down to the rise of the gig economy offering short-term, low paid work, arguing the majority of the growth has been high-skilled, higher-paying sectors, putting the tax take at risk

Accounting / FRC sanctions ex-RSA Ireland CFO for inaccurate financial statements

CIMA member Rory O’Connor, the former chief financial officer at RSA Insurance Ireland (RSAII), has been excluded for three years and fined, along with two of the insurer’s former actuaries, following the conclusion of the Financial Reporting Council’s (FRC) investigation into financial irregularities at the company

Insight / Nexia International post 4% rise in fee income

Nexia International, the worldwide network of independent accounting and consulting firms, has reported its financial results for 2016 which show a 4% rise in total fee income, to hit $3.2bn (£2.58m)

Tax / Hammond under pressure to review business rate rises

Chancellor Philip Hammond is coming under pressure to offer further concessions in the Budget next month to the planned hike in business rates, after Conservative MPs joined business groups and major retailers in a public outcry against the impact of new valuations, the first in seven years

Audit / Blockchain: game changer for audit?

Given its dubious black economy origins, initially there was widespread distrust of Blockchain among audit and accounting circles. But it could change audit radically if it is adopted by larger businesses and auditors are forced to review their technical capability, reports Calum Fuller

Insight / Ham Baker group sold by FRP Advisory to Intrinsic Equity

Newly formed Ham Baker Group Limited, backed by Birmingham-based equity fund, Intrinsic Equity, has acquired the shares in five solvent subsidiaries of F J Holdings Limited and the trade and assets of the Flow division from administrators at FRP Advisory, safeguarding more than 130 jobs

Accounting / IFRIC 22 on foreign currency transactions up for review

The European Financial Reporting Advisory Group (EFRAG) is consulting on its assessment of IFRIC Interpretation 22 Foreign Currency Transactions and Advance Consideration (IFRIC 22) against the endorsement criteria in the IAS regulation

Insight / OTS seeks tax policy advisers

The Office of Tax Simplification (OTS) is looking for people to join its team, and is advertising for up to three tax professionals with current or recent experience in the private sector or within government to join as senior policy advisers
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