Vale & West Chartered Accountants Blog

Category Archives:Lee Gardner

FRC set for “major shakeup” of oversight and supervisory functions

The Financial Reporting Council (FRC) has this week launched an assault on firms who fail to meet the expected standards of financial governance. Read More

Actions for VAT-registered firms over the next year

HM Revenue & Customs (HMRC) has written to VAT-registered businesses trading with the European Union and/or the rest of the world, highlighting actions they need to take before the end of the transition period, which ends on 31 December 2020. Read More

New Year, new audit standards

The International Auditing and Assurance Standards Board (IAASB) has published a revised ISA 315 with a keen focus on accounting for material misstatements in the event of fraud or error.

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Central VAT database will tackle fraud

The European Economic and Financial Affairs Council has agreed to reform to VAT, improving fraud detection in cross-border e-commerce transactions and giving small firms more opportunity for cross-border activities by simplifying their obligations, such as registration and reporting. Read More

Audit regulator questions competence of managerial decision making

Companies need to improve their challenge of management “urgently”, the Financial Reporting Council (FRC) has said. Read More

Transport tech start-ups to be boosted by almost £1 million

The Government has announced the Transport-Technology Research and Innovation Grant (T-TRIG), which entrepreneurs and innovators pioneering new ways of creating a better transport system can bid for. Read More

Eddie Stobart suspends shares in wake of accounting failure

Shares in the global logistics firm Eddie Stobart have been suspended after the group revealed a multi-million-pound accounting error earlier this year. Read More

Serco fined additional £23 million over false accounting charges

Outsourcing giant Serco has been fined an additional £23 million over fraud and false accounting charges, a report has revealed. Read More

Exemptions for Making Tax Digital for VAT

Business owners who need special software for accessibility reasons when filing returns for Making Tax Digital (MTD) but are unable to find the right software, are eligible to apply to HM Revenue & Customs (HMRC) for a temporary exemption. Read More

First MTD-compatible VAT returns filed

Although the first Making Tax Digital (MTD) for VAT filing deadline passed without too many problems on 7 May, the biggest test will come on 7 August, when the largest wave of the 1.1 million VAT registered businesses in the UK have to file under the new system for the first time. Read More

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