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Enhancements to the International Professional Practices Framework Prove Helpful to Audit Committees

Professionals working in the tax services industry, particularly internal audit, have recently been digesting a raft of changes to the International Professional Practices Framework (IPPF) which have just been published by the Global Institute of Internal Auditors (IIA). Although there have not been any alterations to the Definition, the Standards for the Professional Practice of Internal Auditing and the Code of Ethics, internal audit specialists at leading providers of accountancy and tax services, Baker Tilly, suggest that the new enhancements should result in a sharper focus on outcomes, a development that should be broadly welcomed by heads of audit and...

Will £40 Billion Pension Tax Windfall Prove Too Tempting for George Osborne?

As long as most of us can remember, UK taxpayers have always enjoyed quite generous tax relief on our pension contributions. The deal was that we could eventually take a quarter of our pension pots tax-free when we retired but paid tax on any further withdrawals. However, the tax services industry is now warning that this cosy arrangement which seems to have worked well for most pensioners is in danger of being turned totally upside down following a consultation document rushed out by the Treasury on the day of the July 2015 budget. Now, in a thought- provoking note to...

3 Reasons Why Outsourcing Your Accounting is a Good Idea

As a busy and enthusiastic entrepreneur, working hard to keep clients and customers happy, motivating your team and winning new business, when is there a good time to go over the books? If the very idea of finding hours in the week to enter data onto your accountancy software package leaves you in a state of mild hysteria, here are three strong reasons for looking at outsourced accounting. 1. Focus on Your Strengths The need for you to focus your time and energy on what you are best at is one of the strongest arguments in favour of outsourced accounting. If you examine...

3 Reasons Why Small Businesses Should Outsource Their Bookkeeping

Like almost all entrepreneurs, you wouldn’t have taken the plunge to start your own business unless you were passionate about your product or service. Unfortunately, before long, a lot of small-businesspeople become quickly demoralised by the countless extra tasks that clog up their to-do lists. Spending hours on some of these activities, like bookkeeping, is not what you envisaged when you embarked on the adventure of self-employment. Luckily, there are people out there who are as passionate about bookkeeping as you are about running your business. Why waste time muddling through tasks that trained bookkeepers would love to take on? Instead,...

Under the Microscope: How Forensic Accounting Can Help Protect Your Business

Forensic accounting may not be a widely understood activity in the business world. But when you need to find an accountant to address the minutiae of a complex financial or legal situation you need to call up a forensic accountant. Forensic accounting is very much like forensic pathology. When the police discover a body in suspicious circumstances they bring in a forensic pathologist. The pathologist will conduct a thorough investigation, knowing that everything done in the course of the investigation may need to stand up in a court of law. The Role of the Forensic Accountant The same is true of a forensic...

3 Ways London Chartered Accountants Can Help SME Owners

Sadly for those in the finance industry the impact of the 2008 financial crash can still be felt in London. With the City bankers continuing to be pariahs among the general public their reputation will take time to return to what it once was. However other professional services in the capital continue to be held in high regard across the globe, particularly London chartered accountants. Renowned for the meticulousness of their auditing and other services, London chartered accountants count the world’s biggest businesses among their clients. But they aren’t the sole preserve of the big boys. Although they may seem out of...

What Are the Best Methods of Trading Options?

With an increasing number of investors diversifying their portfolios to include stocks, bonds and mutual funds, others are looking towards different types of security, called an option. If you’re an advanced trainer, or someone with a level of experience in trading, then options trading might be for you. But what is options trading? And what are the best methods of options trading? Here we look to find out. What Are Options and Why are They Good? If you’re experienced, options provide great versatility for your trading. They allow you to be either speculative or conservative, depending on your position or confidence...

ayondo Further Enhances its Client Security

ayondo continues to enhance its security initiative, putting the security and safety of its client’s assets as a top priority in order to offer its customers maximum comfort so that they can focus on their investments. "ayondo has always devoted a lot of resources to providing a world-class service and an intuitive trading platform at the lowest possible cost, thereby optimising the customer experience. By enhancing its client security, ayondo aims to respond to the most pressing customer issues: Yes, your money is protected by an additional client money insurance of up to GBP 500,000 and No, at ayondo there is no negative balance...

AIM Soiree and LSE Soiree Merge to Become Investor Soiree

We'd been mulling it over for a while and then back in April we pulled the trigger. I'm talking about the amalgamation of AIM Soiree and LSE Soiree under the Investor Soiree banner. Now, instead of ranking the bulletin board (bb) posting levels for 900 AIM shares on AIM Soiree and a further 600 main board LSE shares on LSE Soiree, we rank those levels for all 1,500 shares together on Investor Soiree. All in the one big pot. Using a little inhouse technology we monitor the posting levels of activity on the boards of Interactive Investor and London South East (lse.co.uk)...

Why the General Election 2015 is All About the Economy

“It’s the economy, stupid!” - Could probably lay claim to be the most para-phrased slogan in American politics - the now legendary quip from a campaign strategist became the public rallying cry of Bill Clinton’s successful presidential election campaign of 1992. One can’t help but think that the General Election 2015 can be boiled down to that simple phrase as it seems clear that in this election the economy is where the major battle lines have been drawn. Two key factors – whether people feel better off, and which party they trust most to manage the economy – will influence the choice...

Investing Basics – Where to Start

Whether you’re saving for a house or preparing for retirement, investing your hard-earned cash could prove extremely beneficial. Not only will it help you reach your financial ambitions but by making long-term investments you could enjoy returns that’ll set you up for the future. Of course, the very nature of investing means your money can go up as well as down, but if you’re keen to navigate the stock market, here’s where to start. Open a stocks and shares ISA If you’re new to investing, opening a stocks and shares ISA could be a good place to start. Not only will you...

The Benefits of Spread Betting

Spread betting is a way for you to trade the global financial markets, but one that takes only a fraction of the collateral it would normally cost you to buy actual shares in a company, index, commodity or currency. What is spread betting? For the uninitiated, this is how spread betting works. A spread betting company, for example Spreadex, would offer a two-way spread with a bid and an offer price based around the live market price. You can then place a spread bet to go ‘long’ (‘buy’) if you think your chosen instrument is going to go up over a certain time...