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9am Lowdown: Accountex day two

12th May 2016
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9am lowdown

Good morning and welcome to the 9am lowdown on day two of Accountex.


Accountex day two

The second day of Accountex kicks off this morning at the ExCeL Centre in London.

Yesterday we saw a wave of new product releases, including the launch of Reckon One at the show. The UK cloud market got a little bigger when the Australian software house Reckon launched its UK iteration, Reckon One.

Stay tuned for more updates from the conference via our live blog and check the site later for more news, blogs and videos from the big event.

Let us know via comments or on Twitter how the event is going for you.

* * *

FRC weighs up BHS investigation

The Financial Reporting Council (FRC) will consider an investigation into the role of accountants involved in the sale of high street retailer BHS.

This follows a letter from Richard Fuller MP, a member of the BIS committee, regarding the conduct of individuals in the sale of BHS to a consortium of investors called Retail Acquisitions (RAL) in 2015 to Sir Philip Green for £1.

FRC chief executive Stephen Haddrill, said, "The FRC is looking into the events at BHS to determine whether to investigate under our own enforcement arrangements."

Big Four firm PwC was the auditor of BHS at the time of its collapse.

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Law firm urges offer cash incentives for whistleblowers

Lawyers have called for better protection for companies which “self-report” corruption and have suggested offering cash incentives for whistleblowers

Law firm Pinsent Masons urged the government to encourage and incentivise companies to “self-report” wrongdoing by offering them immunity from prosecution in certain limited circumstances, while also incentivising individual whistleblowers with cash rewards.

Pinsent Masons partner Barry Vitou said: “In light of recent scandals, leaders need to ensure that the summit amounts to more than just a ‘talking shop’ and that formal, concrete policies, as well as practical steps, are agreed.

“Measures need to break the cycle of corruption, create a level playing field for ethical businesses and really make a difference. It is crucial that ethical corporates who seek to compete fairly are not disadvantaged by those who seek to pay bribes to win contracts and favour,” he said.


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