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UK: audit exemptions and the accounting framework - summary of responses to BIS consultation published
The Department for Business, Innovation and Skills has published a summary of the responses received in respect of its recent consultation on audit exemptions and changes in company accounting frameworks: see here (pdf). The Government's own response will be published in the next few months.
The Financial Reporting Council is consulting on its draft plan and budget for 2012/13: see here (pdf). The Plan notes that the FRC Board and Government are close to reaching conclusions on the reform of the FRC, following a consultation which closed in January (responses for which are available...
The Department for Business, Innovation and Skills has published a consultation paper titled Audit Exemptions and Change of Accounting Framework - see here (pdf) - in which it proposes, amongst other things, making the exemption from audit available to a larger number of SMEs and certain...
The Financial Reporting Council (FRC) and the Department of Business, Innovation and Skills (BIS) have published a discussion paper, 'Simpler Reporting for Smaller Businesses', which sets out ideas to reduce the amount of reporting micro-entities (those with a turnover of less than €500,000, net...
The Financial Reporting Review Panel published its 2011 annual report today: see here (pdf). Of particular interest is what the Panel says regarding corporate governance statements: explanations for departures from the Combined Code (now the UK Corporate Governance Code) could often be clearer and...