Accountants facing regulation overload
When it comes to regulation and compliance, a ‘them and us’ approach can only work to the detriment of practitioners, argues Steve Collings.
Accounting firms today are subject to increasingly burdensome legislation which has made making a living and ‘doing things right’ even more difficult for many practitioners. With revised and redrafted International Standards on Auditing (ISAs) coming in very soon, talks of IFRS for SMEs being introduced shortly and the constantly changing tax legislation, are practitioners (particularly the smaller ones) facing ‘regulation overload’? Crucially, will all this regulation force smaller practitioners (particularly sole practitioners) to throw in the towel?