Consultation: Code of Practice on Local Authority Financial Reporting in the United Kingdom

ACCA welcomes the opportunity to respond to the CIPFA/LASAAC Local Authority Code Board public consultation on short term England-only measures to aid the recovery of local authority reporting and audit.

Consultation: IASB/ ED/2023/5 Financial Instruments with Characteristics of Equity

ACCA welcomes the opportunity to provide views in response to the IASB’s exposure draft (ED) for Financial Instruments with Characteristics of Equity that aims to improve the requirements for classifying financial instruments with ‘debt-like and equity‑like characteristics’ and to improve the information an entity provides on such instruments.

Automatic PI policy renewals

Lockton on the pros and cons of automatic and continuous policy renewals

Protect against cyber attacks

Scam emails and other cyber threats pose a serious risk; protect yourself now

Consultation: Malaysia's National Sustainability Reporting Framework

ACCA commends the Advisory Committee on Sustainability Reporting (ACSR) on the development of the Proposed National Sustainability Reporting Framework (NSRF) involving the adoption of International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards – specifically IFRS S1 and S2. We further commend ACSR on inviting public feedback on the proposed framework through a formal consultation process. This is critical towards fostering trust and transparency in the framework and positively shaping the journey of sustainability reporting in Malaysia.

Consultation: A world-class education system: The Advanced British Standard

ACCA welcomes the opportunity to respond to the Department of Education's consultation on The Advanced British Standard, which presents an opportunity to ensure the 16-19 education system is world leading and that every young person, regardless of their socio-economic background, location, or circumstances can reach their potential and gain both the knowledge and skills they need to thrive in a major global economy.

Consultation: Implementation of Global Minimum Tax and Hong Kong Minimum Top-up Tax

ACCA welcomes the opportunity to provide views in response to the consultation paper issued by the Financial Services and the Treasury Bureau (“FSTB”) on the proposed scheme to implement global minimum tax and Hong Kong minimum top-up tax. Our response is based on feedback from our Hong Kong Tax Committee and our wider network of international tax experts.

Consultation: Model AI Governance Framework for Generative AI

ACCA welcomes the opportunity to comment on the proposed framework issued by IMDA Singapore and Verify Foundation, Singapore. We support the importance and need for a trusted eco-system for AI and commend this initiative particularly given the rapid developments in using generative AI globally.

Consultation: Roadmap Report for Adoption of ISSB Disclosure Standards in Nigeria

ACCA welcomes the opportunity to provide views in response to the ARWG’s call for comments on the Roadmap Report for Adoption of IFRS Sustainability Disclosure Standards in Nigeria. We commend the Federal Reporting Council of Nigeria (FRCN) for being a first mover in committing to adopting the standards and leading the implementation efforts of the ARWG, wherein ACCA is represented.

Consultation on the Proposal of the New Audit Exemption Criteria for Private Companies in Malaysia

ACCA appreciates the opportunity to offer feedback on the proposed new audit exemption criteria for private firms in Malaysia, as outlined in the consultative document published by the Companies Commission of Malaysia (SSM) on 7 February 2024.

Consultation: Addressing the local audit backlog in England

ACCA welcomes the opportunity to respond to the Department for Levelling-Up Housing and Communities (DLUHC) public consultation. ACCA fully supports the proposed package of measures, appreciating that this has been a long-standing issue and DLUHC’s phased proposal seeks to address this and ensure a return to audit opinions meeting user’s needs in a timely manner.

High Income Child Benefit Charge threshold

Changes coming for parents earning £60,000 and above

CGT and UK residential property disposals

The higher rate of capital gains tax for residential property gains will be reduced

Raising standards in the tax advice market

Access to HMRC services, mandatory membership of a professional body and other options when working with HMRC

UK Budget – no game changer for UK economy

Read our comment

National Insurance contributions cut

As widely expected, employees and self-employed will benefit from a 2% NI cut

Growth Guarantee Scheme

Re-named scheme expected to support 11,000 businesses

A lack of support for skills and green policy

The Budget could have gone further to support both skills development and green policy in the UK

Furnished Holiday Lettings (FHL) tax regime abolished

The move aims to improve year-round housing stock in high-tourism areas

Consultation: FRED 85 Draft Amendments to FRS 101 Reduced Disclosure Framework – 2023/24 cycle

ACCA welcomes the opportunity to comment on the Financial Reporting Council (FRC) Exposure Draft 85 Draft amendments to FRS 101 Reduced Disclosure Framework 2023/24 cycle (FRED 85).

Consultation response: Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information

ACCA welcomes the opportunity to provide views in response to the Australian Accounting Standards Board’s (AASB’s) exposure draft ED SR1, Australian Sustainability Reporting Standards (ASRS) – Disclosure of Climate-related Financial Information.

Exposure Draft - Amendments to Climate Change and Energy Standards

GRI exposure drafts for the Climate Change Standard and the Energy Standard (issued by GRI in November 2023) This submission is made jointly by Chartered Accountants Australia and New Zealand (CA ANZ) and the Association of Chartered Certified Accountants (ACCA) under our strategic alliance.

Spring Budget 2024: ACCA's letter to the Chancellor

Read the letter outlining members' priorities, sent to Jeremy Hunt ahead of the announcement on 6 March

Consultation: TCFD-aligned disclosure Exposure Draft for Phase 2

ACCA welcomes the opportunity to respond to this consultation on the TCFD-aligned disclosure Exposure Draft Phase 2 (ED) for the UK public sector.

Audit Standards Amendment - Amendments to ISA 250 section A and B - revision of auditing standards to enhance useability and informativeness of the audit

ACCA welcomes the opportunity to comment on the proposals issued by the FRC. We support the enhancement of the auditor requirements aimed at detecting and reporting material misstatements resulting from non-compliance with laws and regulations. Updating the standard in this way will undoubtedly enhance the quality of audit processes, offering users greater assurance that potential material misstatements have been thoroughly assessed and leading to increased stakeholder confidence in the quality of audits carried out. We also commend the transition to a risk-based approach, allowing auditors to focus on laws and regulations that are most likely to have a material impact on the financial statements.

Technical factsheet: The Economic Crime and Corporate Transparency Act 2023

The legislation introduces several wide-ranging reforms

Draft Scottish Budget 2024/25

A summary of the key points

Draft Welsh Government Budget 2024/25

A summary of the major announcements

ACCA's response to Targeted Consultation: Implementation of the Sustainable Finance Disclosures Regulation (SFDR)

This is a co-authored response to the European Commission’s (EC) Targeted Consultation Document: Implementation of the Sustainable Finance Disclosures Regulation (SFDR) by the ACCA and CISI. This response has been informed through our policy positions, sustainability focused engagement across the EU and UK and roundtable discussion. This work has found that guidance and clarification on and within the regulation is crucial to effective implementation moving forward.

What is FGI and why is this cover important?

Everything you need to know about fidelity guarantee insurance

ACCA's response to FRED 84 Draft Amendments to FRS 102

ACCA welcomes the opportunity to respond to the FRC’s invitation to comment on the draft amendments to FRS 102. ACCA is supportive of the proposed amendments. ACCA has consistently been an advocate for improved reporting on poor payment practices.

ACCA's response to Scope 3 Emissions in the UK Reporting Landscape Call for Evidence

ACCA welcomes the opportunity to respond to the Department’s call for evidence on the benefits, costs, and practicalities of Scope 3 greenhouse gas (GHG) reporting in the UK.

Best practice for limiting liability to clients

Lockton sets out the do’s and the don’ts

Consultation: Annual Improvements to IFRS Accounting Standards - Volume 11

ACCA welcomes the opportunity to provide views in response to the IASB’s exposure draft (ED) for the IFRS Accounting Standards Annual Improvements Volume 11.

Consultation: Whole of Government Accounts 2020-21 Inquiry

ACCA welcomes the opportunity to respond to the Call for Evidence on the Whole of Government Accounts 2020-21.

Chancellor announces action on late payments

Measures were published today in the Prompt Payment Review

Business rates in England

Small business multiplier frozen while the 75% RHL relief will be extended

Cash basis expansion adds flexibility for businesses

Legislation will remove turnover restrictions and allow businesses to move from cash basis to accruals and back

An economic view of the Autumn Statement 2023

Measures to boost business investment and the supply side of the economy are encouraging, but the economic and fiscal outlook remains very challenging

IR35 and calculating PAYE liability in cases of non-compliance

New proposal likely to impact individuals who have been incorrectly determined as self-employed for the purposes of the off-payroll working rules

Making Tax Digital Small Business Review

Pledge to simplify and improve the MTD for ITSA system for taxpayers and their representatives

Skills and green policy disappointment

ACCA reacts to the Autumn Statement’s disappointing lack of support on both skills and green policy

Capital allowances and full expensing

Spring announcement on full expensing made permanent in Autumn Statement

Technical factsheet: Going concern and the alternative basis of accounts preparation for charities reporting under UK-Ireland Generally Accepted Accounting Practice (GAAP)

Aimed at trustees and treasurers of smaller charities and independent examiners, this Factsheet explores how and when to prepare charity accounts on an alternative basis to going concern.

ACCA UK Autumn Statement Survey 2023

Members voiced concerns including issues around accessing HMRC services

Consultation: Whole of Government Accounts 2020-21

Read ACCA's response to the UK Government's Public Accounts Committee

Consultation: APPG Accountancy as a STEM subject inquiry

ACCA welcomes the opportunity to respond to APPG Accountancy as a STEM subject inquiry. We believe that simplicity and open access for all are core considerations when considering the classification of subject areas, funding models, and career support for both individuals and organisations.

Consultation: FRC Revised Ethical Standard Key Changes

ACCA welcomes the opportunity to comment on the proposals issued by the FRC. We are pleased to note that the proposed changes reflect significant developments in the International Ethics Standards Board for Accountants (IESBA) Code since the FRC last revised the Ethical Standard in 2019 to ensure that the UK’s Ethical Standard mirrors as closely as possible the international code.

Consultation: 2024/25 Code of Practice on Local Authority Financial Reporting in the United Kingdom

ACCA welcomes the opportunity to respond to the Consultation on the 2024/25 Code of Practice on Local Authority Financial Reporting in the United Kingdom.

Consultation: IASB/RFI/2023/2 Post-implementation Review: IFRS 15 Revenue from Contracts with Customers

ACCA welcomes the opportunity to provide views in response to the IASB’s request for information for the post-implementation review of IFRS 15 Revenue from Contracts with Customers.