Professional Update Bulletin Issue 8 (April 2009) (PUB) is now available to read and download from today. The PUB contains information relating to recent and upcoming professional developments and is essential reading for members who wish to keep uptodate on current accounting, auditing and regulatory matters.
In this issue:
Financial Reporting-
Updates on recent pronouncements from the IASB and ASB.
Insolvency Update-
Information on the Revised Part D of the Code of Ethics as it applies to the Practice of Insolvency in the UK (effective from the 1st January 2009), Company Law Update for Northern Ireland and SIP 16 Pre-packaged Sales in Administrations.
Auditing and Assurance-
Summary of the IAASB Practice Alert on Fair Value, information relating to the new requirements for Audit resignation in the UK, summary of the recent APB Bulletins and Practice Notes, ISA Clarity Consultation, changes to M47 and details of Info Sheet 02/2009 Grant Claims for Invest Northern Ireland.
Business Law and Corporate Governance matters-
Summary of the Anti-Money Laundering Guidance in the UK and information in relation to the FSA/ISE's shortening of the subscription period for rights issues.
Ethical Matters -
Summary of the changes to the APB Revised Auditor Independence Standards and important information relating to the revised Part D of the Insolvency Code of Ethics relating to the Practice of Insolvency in the UK which is effective from the 1st January 2009.
Investment Business -
Information relating to Wealth Management, Investment Intermediaries Act (IIA) and the Financial Services and Markets Act (FSMA) - UK & ROI
Regulation -
Reminder regarding CPD Regulations, changes to the UK Audit Regulations, Access to Audit Work Papers in the UK, Statements when an Auditors ceases to hold Office in the UK and the CARB Quality Review team provides feedback on various matters which the quality review team believes would assist firms in complying in future.