Comprehensive review of the IFRS for SMEs

Comments from ACCA to the International Accounting Standards Board, 25 November 2012

Embedding sustainability in SMEs

This paper presents the ACCA Global Forum for SMEs’ recommendations for the development of a series of SME-specific measures and approaches that will need to be adopted by governments, the business support community and the accountancy profession, if current efforts to engage SMEs in sustainable business practices are to gain significant momentum.

Is natural capital a material issue?

Joint report from ACCA, Fauna & Flora International and KPMG evaluates the relevance of biodiversity and ecosystem services to accountancy professionals and the private sector.

IASB Post-implementation review: IFRS 8 operating segments

Comments from ACCA to the International Accounting Standards Board 5 November 2012

The changing role of the CFO

Jamie Lyon and Raef Lawson, November 2012. This report discusses the future of the finance function, and in particular the future role of the CFO. It draws on discussions from the ACCA Accountants for Business Global Forum, as well as insights from ACCA–IMA roundtables held in Shanghai, New York, Moscow and Zurich in 2012, which discussed the way in which the role of finance leadership is evolving.

Good practices in the adoption and promotion of e-invoicing in EU member states

This discussion paper presents the findings of a high-level, pan-European consultation on good practices in the adoption and promotion of e-invoicing. It draws on the views of expert professionals and stakeholders in 21 EU member states to identify the initiatives, products and policies that have worked well in promoting the use of e-invoicing. It identifies the countries that are leaders in e-invoicing adoption, as well as suggestions for how their success might be replicated elsewhere.

IFRS in the US: the investor's perspective

Emmanouil Schizas, November 2012. This report discusses the findings of a survey of US investors’ perceptions of IFRS and the prospects for convergence. It shows that, if the US were to move towards convergence, as most investors expect, a successful transition would hinge on investor education and communications, a clear framework for auditors and the accounting profession, and an appropriate level of US influence over the standard-setting process.

Women in finance: a springboard to corporate board positions?

ACCA and ESRC explore whether having a financial background or qualification affects the likelihood that senior women will obtain a FTSE 100 board directorship.

The state of sustainability report assurance in the ASX 100

Researching publicly available sustainability reports published by the ASX 100 provided data that were used to determine the extent of assurance of public sustainability disclosures, by whom, and to which, if any, assurance standard. ACCA and the Net Balance Foundation.

Global alignment: bringing consistency to reporting of Islamic finance through IFRS

ACCA and KPMG, November 2012. Islamic finance (IF) is growing rapidly, worldwide. Many IF institutions prefer to report in the principal global accounting regime, International Financial Reporting Standards (IFRS) – but because of the particular characteristics and nuances within IF, many jurisdictions require these institutions to apply accounting practices that take into account those differences, rather than purely applying IFRS. So how can the financial reporting of Islamic Finance be harmonised and made more consistent internationally? ACCA and KPMG held three high-level roundtables in Malaysia, Dubai and London to address the key issues and produce a package of recommendations. This report summarises the discussions.

Child benefit: high income charge

What you need to know about the child benefit charge on high income families.

Drafting review of revisions to the IFRS Foundation Constitution

Comments from ACCA to the IFRS Foundation, 23 October 2012

Accountants and limited liability

How to limit your liability in respect of limited liability companies

HMRC issue IHT toolkit

HMRC issue new IHT toolkit.

Replacement of UK accounting standards – some FAQs

This is an interim update on the replacement of existing UK accounting standards (FRSs and SSAPs)

Draft Local Government Audit Bill

Comments from ACCA to the ad hoc committee responsible for the pre-legislative scrutiny of the draft local government audit bill, 15 October 2012

BIS: Directors' pay: consultation on revised reporting regulations

Comments from ACCA to the Department of Business, Innovation and Skills, October 2012

Charity Commission updates guidance on internal financial controls (CC8)

Nigel Davies suggests now might be a good time to review your charity or charity client’s financial controls.

DEFRA: Greenhouse gas (GHG) emissions – draft regulations for quoted companies

Comments from ACCA to the Department for Environment, Food and Rural Affairs (Defra), 10 October 2012.

IAASB: Improving the auditor's report

Comments from ACCA to the International Auditing and Assurance Standards Board (IAASB), 8 October 2012

Transfer pricing - HMRC manuals

HMRC's transfer pricing manuals have been re-ordered and rewritten

IESBA: Proposed change to the definition of 'those charged with governance'

Comments from ACCA to the International Accounting Education Standards Board, October 2012

HMRC: Lifting the lid on tax avoidance schemes

Comments from ACCA to the HM Revenue and Customs (HMRC), October 2012

IPSASB: Consultation on IPSASB Work Programme 2013-14

Comments from ACCA to the International Public Sector Accounting Standards Board, October 2012

IAESB: Proposed revised IES 3, initial professional development – professional skills

Comments from ACCA to the International Accounting Education Standards Board, October 2012

HMRC: Extra-statutory concession A19 review

Comments from ACCA to HM Revenue and Customs (HMRC), October 2012

IAESB: Proposed revised IES 2, initial professional development – technical competence

Comments from ACCA to the International Accounting Education Standards Board October 2012

Is corporate Indonesia ready for the green economy?

ACCA, October 2012. This report summarises the ACCA and WWF Indonesia roundtable held in Jakarta on 19 April 2012, one of a series of events addressing sustainability issues relevant to the business community in Asia.

Is corporate China ready for the green economy?

ACCA, October 2012. This report summarises the ACCA and WWF roundtable held in Beijing on 29 June 2012, one of a series of events addressing sustainability issues relevant to the business community in Asia.

Is corporate Hong Kong ready for the green economy?

ACCA, October 2012. This report summarises the ACCA and WWF Hong Kong roundtable held in Hong Kong on 27 June 2012, one of a series of events addressing sustainability issues relevant to the business community in Asia.

Canada and the green economy

Judy Kuszewski and Yasmin Crowther, October 2012. Canada has a complex relationship with the global efforts to move to a green economy. Its policymakers and business leaders need to balance the country’s vast natural resources and the economic growth that they can foster, with the need to develop in a low-carbon, resource-efficient and socially inclusive manner. This report explores what the green economy means to Canada, with a particular focus on Canadian companies and the accountancy profession.

Is corporate Singapore ready for the green economy?

ACCA, October 2012. This report summarises the ACCA roundtable held in Singapore on 17 April 2012, one of a series of events addressing sustainability issues relevant to the business community in Asia.

The green economy: pushes and pulls on corporate China

Christine Loh, October 2012. While China’s rapid growth has provided great opportunity and prosperity to many, it has not come without costs. Environmental damage and social tensions are common throughout the country – problems that the Chinese government are acutely aware of. This report explores the efforts that are being made to transition to a more sustainable path, a greener economy, and the impacts these efforts are having on businesses operating in China.

China and sustainability: risks and opportunities

ACCA, October 2012. This report summarises a briefing held on 14 March 2012 by ACCA and CSR Asia. The session reviewed the social and environmental challenges that accompany the business opportunities arising from China’s rapid development into the world’s largest exporter and second largest importer.

Global economic conditions survey report: Q3, 2012

The global economic conditions survey, carried out jointly by ACCA and IMA since late 2011, is the largest regular economic survey of accountants in the world, both in terms of the number of respondents and the scope of economic variables it monitors.

GRI exposure draft on sustainability reporting guidelines (G4)

Comments from ACCA to the Global Reporting Initiative, 24 September 2012

Consultation on guidance for business on environmental key performance indicators

Comments from ACCA to the Department for Environment, Food and Rural Affairs, 24 September 2012.

HM Treasury: Sanctions for the directors of failed banks

Comments from ACCA to HM Treasury, September 2012

Reasonable excuse - September 2012 update

An update on some recent reasonable excuse tribunal cases.

Mr J R Hanson v The Commissioners of HMRC

The First Tier Tribunal case overturned a penalty for a "careless error" where the accountant was blamed.

Guidance on Accounting and Audit thresholds for charities

The Charity Commission has produced a summary of accounting and audit thresholds for charities in UK and Republic of Ireland.

Charity trustees and internal financial controls

Nigel Davies, Accountancy Policy Team, Charity Commission, suggests now might be a good time to review your charity’s internal financial controls.

Scottish charities: trustees' duties

Charity law in Scotland imposes four general duties on charity trustees and have recently produced a good governance checklist

IASB: Draft IFRIC interpretation DI/2012/2: put options written on non-controlling interests

Comments from ACCA to the IFRS Interpretations Committee, International Accounting Standards Board, 19 September 2012

FRC: Disciplinary schemes proposed changes

Comments from ACCA to the Financial Reporting Council (FRC), September 2012

FRC: how credit analysts view and use financial statements

FRC have produced a short paper that focuses on credit analysts’ requirements and what should, in their opinion, be the new information content of the financial statements

Charity Trustees' Reporting

Trustees have an obligation to report serious incidents or other matters relating to their charity. This should be done when the incident occurs but can also be brought to the Charity Commission’s attention when submitting the annual report.

HMRC recoups £26m missing inheritance tax using complex pc systems

HMRC recovers £26m in missing IHT and reveals details of its ‘Connect’ IT system.

UK public sector internal audit standards

Comments from ACCA to the Internal Audit Standards Advisory Board, September 2012

HMRC: Statutory definition of tax residence and reform of ordinary residence

Comments from ACCA to HM Revenue and Customs (HMRC), September 2012