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Abbey Forwarding Ltd (in liq) v Hone
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Written by Calum Haswell   
Friday, 06 August 2010
COMPANIES - WINDING UP – FRAUDULENT TRADING – REVENUE AND CUSTOMS COMMISSIONERS RAISING ASSESSMENTS AGAINST CLAIMANT COMPANY – CLAIMANT ORDERED TO BE WOUND UP – CLAIMANT COMMENCING PROCEEDINGS AGAINST DEFENDANT DIRECTORS – CLAIMANT ALLEGING DEFENDANTS NEGLIGENT AND THAT DISHONESTLY COMPLICIT IN ALLEGED EXCISE DIVERSION FRAUDS – WHETHER DEFENDANTS LIABLE TO CLAIMANT FOR BREACHES OF OBLIGATIONS AS DIRECTORS

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Companies House annual report
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Written by Calum Haswell   
Friday, 06 August 2010

The Companies House annual report (pdf) has been published on the Companies House website.

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APB Discussion Paper: Auditor scepticism: Raising the bar’
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Written by Calum Haswell   
Friday, 06 August 2010

The Auditing Practices Board (APB) of the FRC has published a discussion paper entitled ‘Auditor scepticism: Raising the bar’. The Discussion Paper emphasises the importance of scepticism to audit quality and draws on recent research to stimulate debate about what actions may be needed to ensure that the appropriate degree of scepticism is applied by auditors in practice. This paper (pdf) is available on the APB website and consultation closes on 31 October 2010.

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BIS Consultation on narrative reporting standards
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Written by Calum Haswell   
Friday, 06 August 2010
The Department for Business, Innovation and Skills (BIS) has published a consultation on the future of narrative reporting standards. The consultation is part of implementing the Coalition Agreement commitment to "reinstate an Operating and Financial Review to ensure that directors' social and environmental duties have to be covered in company reporting and investigate further ways of improving corporate accountability and transparency". 

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Default Retirement Age to be scrapped in October 2011
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Written by Calum Haswell   
Thursday, 29 July 2010
The Default Retirement Age (DRA) will be abolished from 21 October 2011 under proposals published by the government. The new plans allow for a six month transition from the existing regulations, following the announcement in the Budget that the DRA would be phased out from April 2011. Currently employers can make staff retire at 65 regardless of circumstances. The aim is for people, living longer and healthier lives, to be encouraged to work longer.

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Agrimarche Ltd (in creditors' voluntary liquidation)
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Written by Calum Haswell   
Tuesday, 06 July 2010

Abstract

Company – Winding up. The Chancery Division gave directions in respect of the liquidation of a company dealing in, inter alia, options contracts where the underlying commodities were wheat and oil seed rape.

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APB Draft Revised Guidance on Attendance at Stocktaking
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Written by Calum Haswell   
Tuesday, 06 July 2010

The Auditing Practices Board (APB) of the FRC has issued for comment a consultation draft of a revision of Practice Note 25 “Attendance at stocktaking.” The consultation period ends on 5 October 2010.

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Equality Act 2010
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Written by Calum Haswell   
Tuesday, 06 July 2010

The Equality Act 2010 will be implemented from 1 October 2010. The Equality Act brings together nine separate pieces of existing legislation to simplify the law and make compliance easier for companies. Summary guides are available on the equalities.gov website.

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UK Stewardship Code
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Written by Calum Haswell   
Tuesday, 06 July 2010
The Financial Services Authority has published the first Stewardship Code for institutional investors following the publication in May of the updated UK Corporate Governance Code for listed companies.

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FRC and FSA joint discussion paper on auditors contribution to prudential regulation
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Written by Calum Haswell   
Thursday, 01 July 2010

The Financial Reporting Council (FRC) and the Financial Services Authority have issued a joint discussion paper (PDF) in order to open debate on how the FSA, FRC and auditors can work together to enhance auditors’ contribution to prudential regulation.

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Regional Growth Fund announced
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Written by Calum Haswell   
Thursday, 01 July 2010
The Deputy Prime Minister, Nick Clegg, has announced the launch of a Regional Growth Fund. The fund is intended to assist communities most at risk of public sector spending cuts and encourage public sector growth in these areas. Private bodies and public-private partnerships will be able to bid for funding by demonstrating that their proposal will bring in private investment and support increases in private sector jobs.

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