Some Current Topics of Interest
Updated: Sep 24, 2019
Many changes happen but some are more worthy of attention:
1) With Brexit coming many firms are increasing the recruiting accountancy staff for 2 main reasons;
a) Brexit looming - the 10 largest firms are recruiting more than normal and paying higher salaries in preparation for extra work load to deal with changes that will need to be implemented post Brexit,
b) another reason is to meet the extra reporting requirements of Making Tax Digital - MTD, where VAT registered and larger businesses will have to file VAT returns and financial reports online quarterly - skills and knowledge in software used for MTD, e.g. Xero, QuickBooks will help job seekers secure better positions with higher salaries.
2) Banks are being cautious in lending and opening accounts for business clients - a few of our recent business clients have found it quite frustrating dealing with the big 4 banks in opening business accounts - are the big 4 xenophobic?
3) The monopolies commission are looking into the big 4 Audit firms who have virtually dominated and exert control in large company auditing - the big 4 audit firms are: Ernst & Young (EY), Deloitte & Touche, Arthur Anderson & KPMG.