9am Lowdown: PwC fined, Toshiba & DMARC

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Good morning and welcome to the 9am Lowdown.

In the news

The FRC has fined PwC £5.1m and given it a severe reprimand after it admitted misconduct over its audit of accounting firm RSM Tenon. (Reuters)

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The number of official appeals against business rates has collapsed since the introduction of reforms branded “disastrous” by representatives of small companies. (The Times)

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In an effort to make a serious dent in phishing fraud, HMRC’s head of cyber security has completed a three-year project to implement DMARC, also known as Domain-based Message Authentication, Reporting & Conformance. (Information age)

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The FRC has released plans to force UK firms to make more detailed anti-corruption disclosures in their financial statements. (City A.M)

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Toshiba Corp.’s auditors PwC Aarata signed off on its full-year earnings, offering some temporary relief as the Japanese company struggles to stabilize after an accounting scandal. (Bloomberg)

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New on AccountingWEB

A new version of the Business Tax Account is about to be launched, but it won’t cure all the problems with RTI data, as Kate Upcraft explains.

The first tier tribunal has cancelled penalties levied on the finance director of group of companies after HMRC failed to establish that he had breached his duty as a senior accounting officer.

The Any Answers question of the day comes from Matrix who has recently been asked about taking on an FD role for a client. Matrix wants to know if any other practitioners have gone in-house while maintaining their practice.

On the ICPA’s Industry update page, Joel Oliver offers eight tips on how to win clients using mobile technology.

And AccountingWEB regular FirstTab discusses staffing, apprentices and ex-employees in this week’s edition of his My Week blog. 

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Contributions from the AccountingWEB.co.uk editorial team.


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