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Latest News & Blogs

A selection of the latest accounting news and blog posts.

Accountancy firms join Xeinadin super group Up to 25 Irish accountancy firms have taken the first steps towards an amalgamation that could see the creation of the profession's seventh-largest practice. They have joined Xeinadin Group, a network of more than 120 accountancy firms in the UK and Ireland.

David McWilliams: The Government needs to cut spending now - but it will not When things are going well and demand is strong, like now, the State should dampen it.

From abacus to algorithms: why existing accounting skills are "less relevant" It should come as no surprise that artificial intelligence is spearheading deep fundamental changes within the accounting sector. Having already prompted a revolution in financial services as well as Big Tech, the buzzword AI now has its sights set on accountancy.

Stay alert to HMRC phone scams Taxpayers should not let their guard down to scammers impersonating HMRC, despite new technology the department has put in place to tackle fraudulent use of their phone numbers. The new technology works by preventing fraudsters from being able to mimic some of HMRC's most popular helpline numbers, in a crack-down on "number-spoofing" scams.

Mazars acquires healthcare company Hall Liddy Mazars has announced the acquisition of Hall Liddy, a medical accounting firm in the NorthWest, with over 2,600 clients. "The healthcare sector has always been extremely important to us," commented Margaret Laidlaw, Mazars' head of entrepreneurial business.

How to run a profitable farm business - Tax Advisory - Menzies Dave Gosling explores how to run a profitable farm business by maximising profits and efficiently managing your business tax position.

ICAEW: Brexit not as bad on economy as expected The ICAEW said Brexit uncertainty has not affected the UK economy as expected - though it warned a no-deal Brexit must be avoided. "As long as a 'no-deal' Brexit is avoided," commented Michael Izza, CEO of the ICAEW, "history suggests that the current 'new normal' of elevated uncertainty may not impact as much as some expect.

Is your accountancy practice ready for the next decade? What will the accountancy practice of 2030 be like? We look at The Practice of Now survey results and offer tips to get your firm ready for the future.

UST Alfredo M. Velayo - College of Accountancy Graduates bid their farewell to the Catholic University The University of Santo Tomas held its annual Baccalaureate Mass in honor of the Graduating batch of 2019. The UST Alfredo M. Velayo - College of Accountancy produced 414 graduates of Bachelor of Science in Accountancy and 291 graduates of Bachelor of Science in Management Accounting.

Why diving into tech won't control accounting sector disruption As political and economic uncertainty, shifting markets and regulators throw up disruption for both practice and company accountants, a tech vendor warns that jumping into technology is not the way to get ahead.

How limited is your liability? Even so, when we read about fines of this magnitude, everyone in the profession surely needs to take even greater care over their conduct and performance since failure to do so could not only lead to stress, embarrassment and financial hardship but also the possibility of an early and ignominious end to a glorious career.

National accountancy firm snaps up Manchester medical specialist Home / North West / Deals / National accountancy firm snaps up Manchester medical specialist Accountancy firm Mazars has acquired has acquired a leading medical specialist firm in the North West.

KPMG bullying allegations "only scratching the surface" in industry After KPMG's partner Sanjay Thakkar stepped down following a bullying allegation, a legal specialist suggests more investigations are likely in professional services. KPMG announced last week that Thakkar, who was head of the firm's deal advisory unit, had stepped down.

Can I claim R&D tax relief on food/beverage product development? With only 10% of eligible businesses claiming R&D tax credits read our guide to how your food and beverage product development could qualify.

160 places available on Accounting Technician Apprenticeship Programme Accounting Technicians Ireland, which is Ireland's leading professional body for Accounting Technicians, has announced that there are 160 places available for those wishing to pursue the Accounting Technician Apprenticeship.

SALT deduction cap rules finalized, safe harbor proposed 170 when a taxpayer makes a contribution to a state or local agency or charitable fund and receives or expects to receive a corresponding state or local tax credit or deduction in return for the contribution. Proposed regulations were issued last August.

Small businesses 'unsatisfied' with their accountants 70% of small businesses would not recommend their advisor to others - and over a quarter said they are likely to switch accountants, according to research by Xero.

Audit of the future While a variety of developing and future processes are being explored, there is one thing for certain: technology will continue to grow its role in audit and whilst there could be an element of artificial intelligence incorporated in the future, the data analytic tools will continue to be in demand.

Mindshop award success at the double for Haines Watts partner Mr Painter was honoured for 15 years of service to the worldwide training and consultancy network and for being the facilitator who has contributed to one of its core values, Value to Others.

What is the Domestic Reverse Charge ? - VAT Advisory - Menzies What is the Domestic Reverse Charge rule and how might it impact your business? VAT advisor Robert Facer explains the VAT rules update.

Richard Murphy: Why we need an IFRS for tax That is why the Corporate Accountability Network, of which I am the director, is now calling for a new IFRS for tax. This would embrace country-by-country reporting but is intended to deliver much more. Why a company's tax bill is the amount it is would have to be explained in much more detail, as would deferred taxation accounting be expanded.

A refined approach to auditing accounting estimates The PCAOB and IAASB standards emphasize the need for professional skepticism. Harding noted that even the language auditors use can introduce unconscious bias. "The very word 'confirmation' really implies that management is right, and we're confirming that," he said.

New store opening & retail sector tax reliefs - Corporate Tax - Menzies Georgina Davis reviews the corporate tax reliefs available to the retail and wholesale sector when opening a new store or outlet.

When choosing technology, put clients first He stated that while technology has huge benefits for efficiency and growth, those gains shouldn't come at a human cost. Here is Carroll's philosophy on how to choose technology that can help you deepen client relationships:. Let technology do what technology does best.

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