Latest news with #InternationalAccountingBulletin
Yahoo
14 hours ago
- Business
- Yahoo
UK companies lag in ECCTA compliance readiness
A study by Vistra has disclosed that a mere 28% of UK directors are prepared for the Economic Crime and Corporate Transparency Act (ECCTA), with the smallest companies being the least prepared and none confirming readiness. The ECCTA mandates identity verification for all directors, persons of significant control (PSCs) and company filers by autumn 2025, yet less than 3% have complied so far. The ECCTA represents the most substantial reform to the UK's Companies House since 1844, introducing stringent requirements for identity verification and a new offence for failing to prevent fraud. Despite the impending changes and the risk of unlimited fines, Vistra's survey of 100 UK company directors reveals that 39% are unaware of the ECCTA deadlines. The act's enforcement could lead to disqualification of company officers and prohibit companies from filing documents or engaging in acquisitions. Larger practices demonstrated a greater degree of preparedness, with 37% indicating they are very prepared and 49% expressing confidence in their processes to meet the 'reasonable procedures' requirement of the new offence. However, the sentiment among companies is that the ECCTA is burdensome, with 58% holding this view and only 23% disagreeing. Vistra global director of entity management solutions Meg Ogunsola warns that many businesses are underestimating the ECCTA's scale and urgency. Ogunsola advises that acting early is crucial to avoid bottlenecks and severe financial penalties. She notes that Companies House will adopt a strict stance against non-compliant businesses and highlights the need for alternative solutions for overseas directors and those reliant on paper documents. 'Given the scale of the reforms and the administrative burden, it is no surprise that we are seeing many organisations seek specialist support to ensure they meet their obligations efficiently and effectively,' Ogunsola said. "UK companies lag in ECCTA compliance readiness" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
18-07-2025
- Business
- Yahoo
Forvis Mazars appoints Sofia Ihsan as AI consulting leader
Forvis Mazars, an audit, assurance, tax, advisory and consulting services provider, has named Sofia Ihsan as its new AI consulting leader. Ihsan will oversee AI consulting services across all markets, concentrating on solutions that drive innovation while safeguarding businesses, the company said. Additionally, she will contribute to shaping the firm's internal adoption and expansion of AI technologies. With more than 25 years of experience in IT consulting and assurance, Ihsan has expertise in cyber security, IT due diligence, and internal controls for financial reporting. She has worked with senior stakeholders in FTSE 100, FTSE 250, and private companies, delivering complex projects that manage risk, build confidence, and enhance stakeholder value. In addition, Ihsan has collaborated with academics, regulators, and government bodies to develop approaches to trustworthy AI. Previously, she designed and led the global implementation of a Responsible AI Framework at one of the Big Four firms. Ihsan said: 'I joined Forvis Mazars to scale an industry-leading team that helps organisations unlock the full potential of AI—responsibly and securely. 'From crafting AI strategies and ensuring data readiness, to driving cultural change and embedding governance across the AI lifecycle, I plan to deliver real, sustainable impact. 'My role reflects Forvis Mazars' deep commitment to responsible innovation, and I'm proud to join a firm that values transparency, fairness, and collaboration at its core.' In her new position, Ihsan will report to Asam Malik, head of digital and risk consulting, and Toby Stanbrook, chief operating officer and deputy CEO. Malik said: 'Sofia brings a rare combination of deep technical expertise, strategic vision, and a strong commitment to responsible innovation. 'Her leadership will be instrumental as we look to help clients navigate regulatory complexity, stay ahead of rapidly evolving AI technologies and maximise return on their AI investments. I'm thrilled to welcome her to the team at such a pivotal time for our clients and the market.' "Forvis Mazars appoints Sofia Ihsan as AI consulting leader" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-07-2025
- Business
- Yahoo
HaysMac appoints new audit director in property division
UK-based accountancy, tax, and advisory company HaysMac has appointed Sarah Redstone as audit director within its property division. The company said the appointment is aimed at better supporting developers, investors, and real estate investment managers in addressing the challenges and opportunities within the industry. HaysMac managing partner Natasha Frangos said: 'We are thrilled to welcome Sarah to our property team. 'As we accelerate our growth in the property sector, Sarah's expertise will be instrumental in delivering outstanding value and insight to our clients.' Redstone has 12 years of experience specifically in the property and construction industries, having worked extensively in transactions and advisory roles. Her background includes managing complex audit engagements according to both IFRS and UK GAAP, as well as leading various statutory and non-statutory audits for a wide range of clients. In her career, she has been responsible for overseeing the execution of multi-team projects and has acted as the main point of contact for clients regarding both technical and strategic issues. Her skill set also covers internal control assessments, group reporting, and working closely with teams across different functions, including tax and corporate finance. Redstone said: 'I'm delighted to be joining HaysMac at such an exciting time. The firm's deep sector focus, innovative culture, and commitment to client success make it the ideal place to make an impact. 'I look forward to collaborating with the team and helping our clients navigate the evolving challenges of the property and construction landscape.' "HaysMac appoints new audit director in property division" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
30-06-2025
- Business
- Yahoo
Duncan & Toplis acquires Leicester-based Torr Waterfield
Duncan & Toplis, a UK accountancy and business advisory group, has acquired Torr Waterfield, a Leicester-based accountancy firm. This move not only signifies a major milestone for both entities but also marks Duncan & Toplis's first dedicated presence in Leicester city, enhancing its presence across the Midlands. The integration of Torr Waterfield into Duncan & Toplis will see the former transitioning to the latter's brand. Despite the change, all 65 team members, including founders Mark Torr and Mike Waterfield, will maintain their current positions. They will continue to offer their services to clients from the Clarence Street office. Duncan & Toplis chief executive Damon Brain said: 'We're delighted to officially welcome Torr Waterfield into the Duncan & Toplis group. This is an exciting step in our continued growth and reflects our long-term ambition to strengthen our presence across the Midlands. Importantly, as we expand into new locations, our focus remains firmly on supporting all our clients – new and existing – with the personal, trusted advice they value. "With Mark, Mike and their talented team now part of the group, we're even better placed to invest in our people, enhance our services and build for the future.' The acquisition of Torr Waterfield is stated to be a part of Duncan & Toplis's most significant growth phase to date. It aligns with the group's long-term strategy, which focuses on investing in its workforce, expanding services, and the communities it serves. Torr Waterfield co-founder Mike Waterfield said: 'We're excited to move forward as part of Duncan & Toplis. This partnership allows us to continue providing the personal service our clients value, while gaining access to new expertise, wider resources and greater opportunities for our team. It's a hugely positive step for everyone involved.' Established in 1925, Duncan & Toplis has a presence, now operating from 14 locations across the Midlands and London. Locations include Boston, Derby, Grantham, Leicester, Lincoln, London, Loughborough, Louth, Melton Mowbray, Newark, Skegness, Sleaford, Spalding, and Stamford. "Duncan & Toplis acquires Leicester-based Torr Waterfield" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-06-2025
- Business
- Yahoo
IAB DataLens US Accounting Trends Report
Discover how the accounting industry has evolved in the US over the past five years with International Accounting Bulletin's DataLens Country Trends Comparison Report, across four business service lines and staffing over five years. This in-depth trends reports covers country-by-country performance across the four key service lines—Audit, Advisory, Tax, and Accounting—shedding light on growth patterns, market resilience, and shifting demand. The report also examines workforce trends, revealing where Partners, Professional and Administrative staff have expanded or contracted, offering powerful insight into the market's health and trajectory. Whether you're researching new markets and benchmarking performance, this data-rich resource offers the clarity and depth you need to understand the robustness and potential of the global accounting landscape. "IAB DataLens US Accounting Trends Report" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
