Accountancy Newsletter - March 2020

Accountancy Newsletter - March 2020's Tags

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  • Insurance
  • Accountants' Liability
  • United Kingdom

Accountancy Newsletter - March 2020

Published 30 marzo 2020

DAC Beachcroft's Accountancy newsletter features topical news and insights for our clients and contacts.

Sports Direct and Privilege

The Court of Appeal’s judgment and its implication for audit firms.
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SAAMCO principles

SAAMCO principles remain a complex area of law – how does it apply to a claim based on alleged audit negligence?
BTI 2014 LLC v PWC [2019] EWHC 3034 (Ch)

 

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There is now a “dominant purpose” test for legal advice privilege – some practical points for accounting practices

‘Litigation’ privilege has long been subject to a ‘dominant purpose’test. For a document to be privileged, the dominant purpose for its creation must have been for use in relation to contentious proceedings (either in existence or reasonably in contemplation).

 

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FRC consults on proposals to revise ISA standards for identifying and assessing risks of material misstatement

The FRC is consulting on proposals to revise International Standard on Auditing (UK) 315 – Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and the Environment.

 

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Disguised Remuneration Schemes and The Loan Charge- Are Accountants Exposed?

Accountants have been facing claims for a while because of their previous involvement in disguised remuneration schemes looking to reduce income tax and national insurance contributions.

 

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Fully Charged! Recent decisions where the Court has been positive in compelling parties to engage in ADR

Parties to litigation have long been encouraged to consider Alternative Dispute Resolution (ADR). Its numerous benefits include assisting parties to resolve disputes more quickly and cheaply than through the litigation process.


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Administrators should act in the best interest of company’s creditors as a whole - in the absence of a special relationship it should not favour any particular creditor

Fraser Turner Limited v PricewaterhouseCoopers LLP and others [2019] EWCA Civ 1290

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A warning for insolvency practitioners – take care when handling personal data

The Financial Conduct Authority, the Information Commissioner’s Office and the Financial Services Compensation Scheme have issued a joint statement warning insolvency practitioners to be careful when handling personal data.
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Key Contacts

Richard Highley

Richard Highley

London - Walbrook

+44 (0)20 7894 6470

Giles Hindle

Giles Hindle

Bristol

+44 (0)117 918 2195

Julian Bubb Humfryes

Julian Bubb Humfryes

London - Walbrook

+44(0)20 7894 6137

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