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Every article from your latest print edition of CA Magazine

December 2008

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Ensuring there’s a low risk of provoking HMRC enquiries

Businesses across the UK are striving to be awarded “low risk” status to avoid continual enquiries and interventions from HM Revenue & Customs

Crackdown on transfer pricing

Companies may face high penalties for failing to take reasonable care

Capitalising on green agenda

Companies that are spending on environmentally friendly items can get cash flow benefits

Making the most of IHT nil-rate band

In last year’s Pre-Budget Report, the Chancellor announced that with effect from 9 October 2007, it is possible for spouses and civil partners to transfer unused inheritance tax (IHT) nil-rate band allowances

Hard times

Donald Drysdale hopes HMRC will ease up on small companies when it collects their taxes, to help them survive as the UK moves into recession

Sticking to standards

The big question is not what is in the Combined Code on Corporate Governance but whether UK companies are observing it as they face hard times

Consultation on audit firm governance

Views are being sought on what a code of governance for audit firms might cover

Hedges guidance

The Accounting Standards Board (ASB) has issued its UITF Abstract 46, implementing the International Financial Reporting Interpretations Committee's Interpretation 16 Hedges of a Net Investment in a Foreign Operation in the UK and the Republic of Ireland

Non-EU audit requirements

The Professional Oversight Board (POB) has published requirements to give effect in the UK to European rules for regulation of auditors of companies from outside Europe that have issued securities on regulated markets within the EU. The requirements derive from the Statutory Audit Directive

Hedge FRS amended

The Accounting Standards Board (ASB) has amended Financial Reporting Standard (FRS) 26 (IAS 39) Financial Instruments: Recognition and Measurement – Eligible Hedged Items

Feedback on audit quality

The Financial Reporting Council has published feedback on its February Audit Quality Framework

Coping with memory loss

Be prepared for a data disaster – Kenneth Mullen warns on recent scandals and likely clampdowns

Clarity query

The APB wants views on UK and Ireland adoption of Clarity Project international accounting standards

FRRP will prioritise media

The Financial Reporting Review Panel is to extend the industry sectors it prioritises to include other entities which derive significant revenue from the provision of services such as advertising, media, recruitment and technology, in view of the deteriorating economy

Companies House clampdown

Stuart Morgan outlines why the deadline for filing business accounts has been reduced from next February – and what it will cost to miss it

APB issues guidance on auditors’ reports

The Auditing Practices Board (APB) has issued bulletin offering guidance on reports by auditors required by the UK Companies Act 2006

Firm conclusion

The Professional Oversight Board’s review of audit training has raised fears that small firms cannot always offer trainees and staff sufficient experience

Selling up?

Catherine Feechan looks at exit strategies and the credit crunch

Pension benefits

A final salary pension scheme, a potential burden to those selling a company, can be the 'ace in your hole' for those trying to defend themselves against a buyer

Scotland could be a centre for dispute resolution

Scotland could become the 'Switzerland of dispute resolution' if the right legal reforms are put in place, according to the Business Experts and Law Forum (BELF), set up by the Scottish government to look at how the country's legal system could be made more business-friendly

CPD and the credit crunch

In uncertain times, forward-thinking firms are harnessing CPD to buck the economic trend

Developing procedures

Members are advised to take note as new rules and procedures are introduced to combat non-compliance