Sector reports

Tax / NAO summary on HMRC performance published

The National Audit Office (NAO) has published a departmental overview on HMRC’s finances and performance during 2015-16, bringing together the findings of its reports during the year and highlighting ongoing concerns

Insight / NAO to take closer inspection of NHS trusts’ financial sustainability

The National Audit Office (NAO) is to take a further look at the health of the NHS’s finances, following on from last year’s report which found that the deterioration of the financial position of NHS trusts and NHS foundation trusts had been ‘severe and worse than expected’

Insight / Tesco bottom of table for governance

Tesco has been graded as bottom of the class in the latest ranking of the FTSE 100 according to their corporate governance performance, while accounting software supplier Sage is fourth on the list, which has been compiled by the Institute of Directors (IoD)

Insight / Digital tax, HMRC and the Accenture relationship

The scale of HMRC’s digital project encompassing the over-arching Making Tax Digital (MTD) programme means IT is core to the tax department and Accenture is picking up some significant software development accounts, reports Calum Fuller

Insight / Public sector consulting hits £1.1bn as accounting firms benefit

Spending on consultants in the public sector is estimated to be worth around £1.1bn a year and the Big Four accounting firms are increasing their market share across the board from advisory services on corporate finance and procurement to multi-specialism programmes, reports Philip Smith

Insight / Late payment or business failure behind a fifth of corporate insolvencies

At least one fifth of UK corporate insolvencies in the past year were caused by late payment or the insolvency of another company, according to research by insolvency and restructuring trade body R3 highlighting this is as a longstanding issue which needs addressing

Insight / Sector report: contentious supplier agreements in food and drink market

Accounting scandals, questionable supplier agreements and SFO investigations put pressure on food and drink CFOs across the retail sector. Philip Smith considers the accounting challenges and risks 

Audit / Consulting: Big Four target niche firms to expand service offering

The growth of consulting services, digital innovation and data analytics is proving a much-needed catalyst for expansion at the Big Four accounting firms as they acquire a raft of niche consulting firms, reports Penny Sukhraj

Tax / Sector report: charities and SORP 2015 accounting and tax issues

An FRS 102 based accounting framework with the first new charity SORP for a decade and a raft of tax complexities are problematic for the charities sector as they face increasingly difficult funding issues, reports Rachel Willcox, with a expert opinion from Cancer Research UK CFO Ian Kenyon

Accounting / Sector report: fashion, retail and catwalk accounting

From hedging currency to FRS 102, transfer pricing to cashflow, the pressure is on margins in this crucial retail sector. Rachel Willcox reports on the key concerns for finance directors at leading fashion retailers, including Next and Hobbs

Accounting / Sector report: utilities and energy

Soaring investment, new accounting rules and tax changes create pressure for the energy companies, reports Jaimie Kaffash, but the consumer is wholly disillusioned with escalating bills

Insight / Development updates: July 2014

ICAEW wipes out £1.2m deficit but misses student target, Deloitte offers staff flexible working and Aspen Waite extends reach with Pinder Cox merger

Tax / Sector report: GP practices in the NHS

The shakeup of the NHS has changed the funding landscape for GP practices creating financial pressures for the sector, writes Rachel Fielding

Tax / Sector report: automotive

Car sales may be recovering but profit margins are being squeezed and lease accounting changes threaten the bottom line, reports Rachel Fielding

Tax / Sector report: farming

Changes to tax reliefs, partnership reform and price volatility threaten the future of the farming community, reports Rachel Fielding