Difference Between Compliance & Engagement for Accountants
Accountants sometimes tend to get compliance & engagement mixed up and end up getting into hot water. While both are essential, understanding […]
ICAEW Engagement Letter Template for Accountants, Bookkeepers & Tax Advisers
Engagement letters may seem routine, but according to the Journal of Accountancy, 39% of accountancy firms that faced legal claims did not […]
HMRC Allows Shared MTD Access For Accountants & Bookkeepers
For years, the collaboration process under Making Tax Digital for Income Tax (MTD IT) was much more complicated, and only one professional […]
Top 5 Frequently Asked Questions About Engagement Letters
Do you know? Clients are three times more likely to recommend firms that have clear onboarding processes. This includes firms that present […]
Why Accountants Need Engagement Letter Templates
Do you know that 1/3rd of professional liability claims against accountancy and CPA firms involved cases where no engagement letters were drafted? […]
ICAEW Fines Financial Controller Over Alleged Fraud
ICAEW has fined a financial controller with a bill of £14,000 for wrongly utilising company funds to pay for the repairs of […]
ACSP: How Can Accountants Prove & Verify Clients’ Identity
The UK government has introduced stricter identity verification requirements, and any negligence or failure could result in civil penalties and criminal charges. […]
HMRC Targeting “Unethical” Tax Advisers
HMRC could soon hit dishonest tax advisers with penalties up to £50,000, public naming and stricter investigations. The UK government has launched […]
MTD for ITSA Expands in April 2028- What Accountants Need to Know?
Rachel Reeves’s Spring Statement which was meant for economic updates surprised the UK with buried details on tax measures including an important update on Making Tax Digital for Income Tax (MTD ITSA).
How to Simplify Accounting Compliance: 3 Easy Strategies for Businesses
Accounting and regulatory compliance are becoming more complex each year with frequent changes in industry, government policies and technological landscapes.
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