- FRC Statement and QC's Opinion on 'True & Fair'
- [23/05/08] - The Financial Reporting Council (FRC) has published an Opinion by Martin Moore QC. It confirms the continued relevance of the ‘true and fair’ concept to the preparation and audit of financial statements following the enactment of the Companies Act 2006 and the introduction of international accounting standards.
- Filing of Accounts
- [15/04/08] - Part 15 of the Companies Act 2006 sees the introduction of changes to the filing dates for accounts. These will apply for accounting periods beginning on or after 6 April 2008 and reduce the filing date by one month.
- Small and Medium Sized Company Limits Increased
- [03/04/08] - The limits for small and medium sized companies and audit exemption have increased.
- [01/01/08] - On 23 March 2006 the Professional Oversight Board (POB) called for 'increased clarity over how professional accountants support small and medium-sized companies and users of their accounts and agrees measures aimed at improving the quality of financial accounts prepared with the assistance of professional accountants'
- Practice Note 26 - Guidance on Smaller Entity Audit Documentation
- [01/01/08] - Understanding Practice Note 26 - Guidance on Smaller Entity Audit Documentation.