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A recent High Court decision in Shah and another v HSBC Private Bank (UK) Ltd will provide some much needed comfort to entities having to comply with The Money Laundering Regulations 2007 as to the interplay between their statutory obligations under the Part 7 of the Proceeds of Crime Act 2002 (“POCA”) and other contractual obligations owed to their clients.
This month, as we recover from the self assessment rush, we report that HMRC regard the increase in online filing as a great success. We also report that Chancellor Alistair Darling will be keeping us all guessing a bit longer, by making his Budget speech on 22 April this year.
Welcome to the first enews of 2009. In this month’s enews we report on a very busy time in the world of tax, with the filing deadline for self assessment tax returns keeping us all working hard.
The ICAEW Audit and Assurance faculty has updated its 2005 publication 'Promoting best practice in group audits' to take account of the EU Statutory Audit Directive, revisions to ISA 600 'Special Considerations – Audit of Group Financial Statements (including the work of Component Auditors)', and the Companies Act 2006 requirement for medium-sized groups to prepare group accounts.
In this month’s enews we report on the Business Payment Support Service which is designed to support businesses affected by the current economic conditions.
The APB are working on updating ISA (UK & Ireland) 700 on audit reports. The revised Standard is intended to be effective for accounting periods ending on or after 5 April 2009.
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