10 things we learnt this week: 8 April 2016
A round-up of recent top content you may have missed from CA Today.
1. A fifth of companies are unprepared for June audit reforms
Research by EY has shown a significant number of UK companies are ill-informed on new EU audit rotation reforms. Only a quarter of FTSE 350 companies have tendered their audit at this stage.
2. Significant changes to company filing requirements came into force
Certain UK companies now need to keep a register of people with significant control (PSC), as part of the implementation of the Small Business, Enterprise and Employment Act. Qualifying companies will also no longer have to file an annual return from 30 June.
3. SMEs have multiple funding options
Robert Outram broke down the different routes small businesses and enterprises have for raising finance. There are around 5.4 million SMEs in the UK alone.
4. FinTech is growing in the UK
Over half of the 2016 FinTech50 list was awarded to London-based companies. The annual honour roll also named 10 FinTechs to watch this year, including Brolly, Clearmatics and Lattice.
5. Weir Group have switched auditor to PwC
The Glasgow-based engineering firm has ended a 70-year relationship with EY with the decision. PwC will take over audit and assurance services from 28 April 2016.
6. FCA reported fewer complaints for the end of 2015
The Financial Complaints Authority (FCA) has confirmed that financial firms received 1.4% less complaints between July and December last year. Payment Protection Insurance was the cause of most customer dissatisfaction.
7. The new LBTT amendments were explained
The ICAS Tax Team went into detail on the new additional dwelling supplement for Land and Buildings Transaction Tax (LBTT). The supplement came into force on 1 April 2016.
8. High street banks are integrating FinTech
Spiking investment in FinTech is said to be rendering local banking branches obsolete. According to research by Citigroup, the rise of mobile banking could mean two million job cuts for the sector within the next decade.
9. We can adopt healthier habits at work
Thursday 7 April was World Health Day and CA Today suggested some easy ways to improve your health in the workplace. Eating fruit, taking the stairs and adjusting your chair all made the list.
10. Accountants have their place set in film history
"My father was fond of saying you need three things in life - a good doctor, a forgiving priest, and a clever accountant." CA Today rounded up the best bookkeepers and men in gray suits from the silver screen.