DAC Beachcroft's Accountancy Newsletter features topical news and insights for our clients and contacts
The decision underlines the regulator’s expectation that integrity should flow throughout an audit team at all levels of seniority. Lack of seniority will not be considered an excuse.
The Supreme Court’s recent judgment in BTI v Sequana is a significant decision for the law of directors’ duties. Directors must keep the financial position of their company under close review and seek professional advice to support them in making financial assessments regarding the risk of insolvency.
Burnford v Automobile Association Developments is a helpful reminder to accountants and auditors to check that the language of their disclaimers is sufficiently clear and wide to disclaim liability to third parties.
UK sanctions prohibit the provision of accountancy services to ‘persons connected with Russia’. What do these sanctions mean in practice for accountants and auditors, and what can you do to mitigate the risk of falling foul of them?
Patricia Andrews v Kronospan affirms the court’s position on objectivity and impartiality and highlights the danger if an expert witness strays and allows their evidence to be crafted by those instructing them.
The accountant’s lien can provide leverage in fee negotiations where a client refuses to pay (arguably without good reason). However, where fees are unpaid because the client considers the accountant was negligent, and there is appetite to pursue a negligence claim, the lien will swiftly lose its bite.
HMRC is taking action against professional advisers and companies who HMRC consider are inappropriately pushing the boundaries of R&D claims. Advisers need to be alive to the risks of submitting erroneous R&D tax claims.