AIA has been working hard with government, other professional bodies and regulators in the UK and European Union since 2016 to explore how Brexit will effect members and - as importantly - their clients.
In acknowledgement of the skills and experience of AIA members, we are delighted to partner with Governors for Schools to bring those wishing to share their financial and professional expertise to schools in England.
The Independent Review of the Financial Reporting Council (FRC) led by Sir John Kingman published its report to government 18 December 2018. The review recommends that the FRC be replaced with an independent statutory regulator, accountable to Parliament, with a new mandate, new clarity of mission, new leadership and new powers. The new regulator would be called the Audit, Reporting and Governance Authority (ARGA) and will have a different culture and statutory objective to serve the interests of users of accounts. It is anticipated that ARGA will also act to promote competition in the audit market.
It’s the season for giving.
Here at the Association of International Accountants (AIA) we have been supporting Newcastle West End foodbank, a locally based charity during this festive period.
The future of finance is digital. Making Tax Digital (MTD) is one of HMRC’s key strategic priorities, with the aim of transforming and modernising how tax is reported and managed.
From April 2019, all businesses in the UK with a turnover above the VAT threshold (currently £85,000) will be required to keep digital records of their VAT in addition to filing electronic quarterly returns.
On 15 November 2018 AIA signed a cooperation agreement with Jinan University Education College, Guangzhou, People’s Republic of China to promote international accounting within Guangdong province.