Julia Penny

Julia Penny

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    Trust in audit – Kingman, Tyrie and Wate

    The Kingman review of the FRC, which is to have a detailed look at whether the regulator can achieve its aims (and indeed what these aims should be) with its current structure and powers, has launched a call for evidence, open until 6 August 2018. The call for evidence launches quickly into the concerns raised […]

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    Money Laundering: Criminal record (DBS) checks for BOOMs

    Many of you will recently have received a letter from ICAEW, or whoever your supervisory body is for money laundering purposes, regarding the need to carry out criminal record checks (called DBS or Disclosure and Barring Service checks) for all of the “BOOMs” in your firm. A BOOM is one of the following, with the […]

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  • Mercia Blog CCAB draft anti-money laundering

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    Treasury Approved CCAB Anti-Money Laundering Guidance Issued

    On the 7th March 2018 the CCAB issued the final HM Treasury approved version of the Anti-money guidance for the accountancy sector. Whilst there are a lot of changes due to a general tidying up, for example using the word country instead of jurisdiction, there are not many of more significance.

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  • Mercia Blog CCAB draft anti-money laundering

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    CCAB draft anti-money laundering guidance issued

    On 11 August 2017 the Consultative Committee of Accounting Bodies (CCAB) issued their draft guidance reflecting the changes to the Regulations in ‘The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the 2017 Regulations)’.

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  • Mercia Blog Audit Issues Loan Covenants

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    Professional scepticism and the auditor

    I don’t think it matters how many years you have been auditing you will surely always feel that the issue of scepticism (or skepticism as IFAC et al insist upon using) is ever present. The trouble is, it is often ever present in that theoretical world of what auditors are supposed to do and perhaps […]

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    Proposals to simplify FRS 102

    On 23 March 2017, the Financial Reporting Council (FRC) issued FRED 67 containing draft amendments to FRS 102 and other new UK GAAP standards.  In this blog post, we consider some of the main proposals. FRED 67 Draft Amendments to FRS 102 There is much to like in these proposals, although you may receive news […]

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