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2017 press releases

Press releases issued by ICAEW in 2017.

Statement from ICAEW on the Lord Chancellors' decision to reject ICAEW application

Thursday 21 September 2017, Following the publication by the Ministry of Justice of the Lord Chancellor’s Decision Notice on ICAEW’s application to become an approved regulator and licensing authority for the remaining reserved legal activities, Duncan Wiggetts, ICAEW Executive Director of Professional Standards, said:-

Economic growth to slow as uncertainty continues for businesses

Monday 11 September 2017, Businesses may need to take a greater ‘leap of faith’ and invest for the future despite the current uncertainty according to ICAEW. In its latest Economic Forecast, it predicts GDP growth of 1.6% in both 2017 and 2018, 0.8% slower than the average for the past three years. Despite the lack of certainty on Brexit, the economic conditions for capital investment remain positive and would help drive growth.

It's time to admit British business has a problem...

7 September 2017, ICAEW conducted a survey of those working with the insolvency and business restructuring sectors* showing that many of them are increasingly helping businesses back into recovery though the message is clear – this is only possible if problems are admitted early.

ICAEW publishes IFRS 9 briefing

Monday 4 September 2017, ICAEW has published a briefing on the new accounting standard, IFRS 9, which is to be implemented on 1 January 2018. The new rules will mean banks must show their expected losses earlier than in the past.

Apprenticeships compete closely with university for 2017 leavers

Thursday 17 August 2017, As the range of business apprenticeships increase, offering today’s school leavers the opportunity to learn business skills such as accountancy on the job, almost half of those reviewing their future this year considered apprenticeships as an alternative to university.

ICAEW: We must hold our nerve on extended audit reports

Wednesday 2 August 2017, Extended audit reports need continued support in order to do what they’re meant to, according to ICAEW. In its latest report The extended audit report: the start of a conversation the accountancy and finance body says the response to audit scandals such as Tesco and Rolls Royce have the potential to affect the development of audit and calls for auditors, regulators and investors to get behind the new developments. It outlines the challenges and offers some reporting benchmarks, along with 6 calls to action to build on the achievements of the UK profession in extended audit reports.

ICAEW: non-comparable disclosure under IFRS is a problem

Monday 31 July 2017, The Institute of Chartered Accountants in England and Wales (ICAEW) has published a new briefing, Disclosure quality and international comparability under IFRS: evidence from pension discount rates, impairment and capitalisation of development costs. The briefing, prepared by academics Christopher Nobes and Christian Stadler, reports the difficulties met when collecting data on the three topics investigated in order to study international differences in IFRS practice.

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