Modular Training Programme 2

Module 1 – FRSSE (22nd July)

What will I get out of it ?
• clarification of the entities that have the option to use the FRSSE
• details of the key links with the Companies Act 2006
• practical guidance on the accounting and disclosure provisions of the FRSSE
• an indication of likely future development of the FRSSE.

Key features
• current definitions of small companies and other entities permitted to adopt the FRSSE, and the link with any audit requirements
• key Companies Act 2006 components of the FRSSE
• the major relaxations of full GAAP within the FRSSE
• practical guidance on the main FRSSE provisions
• the ASB’s plans for the FRSSE in the next few years.

Module 2 – Company Risk and Practical Auditing (22nd July)

What will I get out of it ?
• understanding of risk models currently used in auditing and their relevance to audits of proprietary and larger companies
• ability to spot and deal with ‘significant risks’ without blowing the budget!
• overview of linking risk assessment to the detailed audit process
• knowledge of specific audit procedures and issues.

Key features
• audit risk and business risk – similarities and differences and the relevance of each to companies and auditors
• the process of risk identification and assessment and establishing what a ‘significant’ risk is
• producing documentation that establishes the clear link between risk and the audit procedures performed to address the risk
• specific audit processes and issues
  – analytical procedures
  – extent of reliance on management representations
  – going concern
  – the audit report – recent and proposed changes.

Module 3 – Dealing With HMRC Enquiries (23rd July)

What will I get out of it ?
• understanding of the new legislation which impacts on enquiry work
• review of the HMRC internal guidance on the changes
• practical advice on the operation of the new enquiry regime.

Key features
• the legislative framework from April 2009
• how to reduce the risk of your client’s affairs being taken up for enquiry
• the impact of the new regime on the working of enquiries
• practical advice on dealing with HMRC in the course of enquiries
• how to settle cases effectively
• the new appeals regime – the theory and practice.

Module 4 – Income Tax Refresher (23rd July)

What will I get out of it ?
• a practical review of the changes in income tax law in the last year
• revision of the principles of income tax computations
• consideration of the key areas of difficulty.

Key features
• review of recent changes in legislation affecting income tax
• computational issues in arriving at business profits chargeable to tax
• other issues in computing profits including maximising allowable deductions
• overview of other profits subject to income tax
• minimising income tax through pension planning
• double tax issues on foreign income.

Module 5 – Charities Update (24th July)

What will I get out of it ?
• an appreciation of the requirements of the Trustees Report and changes arising from implementation of the Charities Act 2006
• a review of the requirements of SORP 2005 and the changes arising from SORP 2005 revised 2008
• an appreciation of the implications of the Charities Act 2006 and other changes to the regulatory framework
• a refresher of some areas of SORP 2005
• examples of reports under the legislation and Practice Note 11 revised.

Key features
• SORP 2005 and SORP 2005 revised 2008
• Charities Act 2006
• example annual reports issued by the Charity Commission
• Practice Note 11
• changes to the Companies Act 2006 affecting charitable companies
• changes to exempt and excepted charities
• Competition Commission’s survey on issues arising from accounts and annual reports.

Module 6 – Companies Act 2006 (24th July)

What will I get out of it ?
• understanding of where the implementation of the Companies Act 2006 currently stands
• knowledge of the key changes brought about by the Companies Act 2006
• an overview of the new model articles of association
• understanding of the changes to the rules on share capital.

Key Features
• implementation dates
• abolition of objects clause
• decision making within companies
• the new model articles
• the private company secretary
• abolition of authorised capital
• easier reduction of capital
• abolition of the whitewash procedure.

Dates and Locations
22 – 24 July, London
25 – 27 November, London
2 – 4 December, Manchester

Please note:
Modules 1, 3 and 5 start at 09.30 and finish at 13.00
Modules 2, 4 and 6 start at 14.00 and finish at 17.30

Fees
Any six modules £520
Individual modules £110