Core Insights - The Institute of Singapore Chartered Accountants (ISCA) has released a strategy paper aimed at supporting the future development of small and medium-sized accounting practices (SMPs) in Singapore, addressing challenges such as competition, talent attraction, and technological adaptation [1][2] Group 1: Current Landscape of SMPs - There are 761 accounting entities in Singapore, with 98% classified as SMPs employing 100 or fewer people, and 70% of these being micro practices with ten or fewer staff members [2] - SMPs play a crucial role in Singapore's small and medium-sized enterprises (SMEs) ecosystem by providing essential accounting services [2] Group 2: Challenges Faced by SMPs - Increasing pressures on SMPs include operating independently, strong competition, difficulties in attracting qualified staff, and adapting to rapidly evolving technology [1][2] - Limited progression opportunities have been identified as a significant factor hindering recruitment efforts for many companies [3] Group 3: Recommendations from the Strategy Paper - The strategy paper recommends greater collaboration among companies, including resource sharing and adopting shared services models to address staff shortages and enhance operational efficiency [3] - A digital badge framework is suggested to help SMPs showcase their achievements and expertise, facilitating assessment by businesses and potential employees [4] - The paper advocates for piloting technology solutions within practices to streamline tasks, improve productivity, and attract the next generation of accountants [4] - Encouragement of international activity through participation in Professional Services Centres is recommended to facilitate entry into overseas markets and stimulate demand for Singapore-originating professional services [5] - Initiatives involving educational institutions and other partners are included to recruit graduates and create structured career pathways in the sector [5] Group 4: Importance of SMPs - The SMP sector is described as a vital pillar of Singapore's business ecosystem, with a focus on helping these firms transition from survival to strength through scale, collaboration, and a shared vision for the future [6]

Core Points - The Financial Reporting Council (FRC) has initiated a formal inquiry into Ernst & Young (EY) regarding compliance with UK audit partner rotation requirements during the audit of Shell's financial statements for the year ending December 31, 2024 [1][3] - The investigation will evaluate adherence to regulations concerning the duration of service for lead audit partners, as Shell reported issues with compliance to the London Stock Exchange in July 2025 [1][2] - EY has acknowledged that the time limits for partner rotation, as per the FRC's Revised Ethical Standard, were exceeded, leading Shell to amend its annual reports for 2023 and 2024, although the underlying financial statements will remain unchanged [2][4] Group 1 - The FRC's inquiry was confirmed during a Conduct Committee meeting on October 21, 2025, and will be conducted in accordance with the Audit Enforcement Procedure [3] - EY communicated to Shell that the US audit opinions for 2023 and 2024 should not be relied upon, prompting a reassignment of responsibilities and the reissuance of these audit opinions [3] - EY reported the exceeded time limitations to the FRC, indicating a proactive approach to compliance issues [4]

EY is already the subject of six active investigations by the Financial Reporting Council - Deborah MacDonald/Alamy EY is facing fresh regulatory scrutiny after the Financial Reporting Council (FRC) launched an investigation into its audit of Shell’s accounts. The Big Four firm is now the subject of six active investigations by the FRC, including scrutiny of its work for the Post Office, collapsed online furniture retailer Made.com and NMC Health, the former FTSE 100 hospital operator. EY has already p ...

Core Points - HB&O has appointed Mathew Neal as the head of accounts in Coventry, part of a broader personnel restructuring across departments [1][6] - The Coventry office, located in Severn Stars House, employs 15 professionals, contributing to a total workforce of 100 across all HB&O locations [2] - Several promotions have been announced within the audit and accounts team, including Jack Dunne advancing to senior manager and Tim Smith becoming accounts senior after achieving ACA status [2][3] Promotions and Personnel Changes - Seven members of the audit and accounts team have received promotions, highlighting the firm's commitment to internal growth [2] - Other departments, including the virtual finance office and tax team, have also seen staff advancements, with Matt King and Chris Sudbury being promoted to senior roles [4] - The promotions are seen as recognition of the employees' contributions and alignment with the company's core values [6] Company Growth and Strategy - HB&O's managing director, Mark Ashfield, emphasized the importance of having a strong team to drive the company's ambitious growth plans in Coventry, Warwickshire, Birmingham, and the wider West Midlands [5] - The ongoing personnel changes are part of a strategy to support the company's growth and enhance client service [5][6]

Core Insights - The Institute of Chartered Accountants of India (ICAI) has approved amendments to the code of ethics to enhance international connectivity for Indian chartered accountant firms [1][2] - The ICAI (Global Networking) Guidelines, 2025 have been established to facilitate associations between Indian CA firms and international entities [2][3] Group 1: International Collaboration - The new guidelines allow Indian CA firms and networks to form associations with international entities, promoting opportunities outside India [2] - The aim is to provide small and medium-sized Indian CA firms access to international knowledge, technology, and expertise for cross-border collaborations [2] Group 2: Code of Ethics Revisions - A revised 13th Edition of the Code of Ethics will be effective from 1 April 2026, introducing changes in advertising and website usage for firms [3][4] - The updated rules allow more flexibility in advertising content and enable chartered accountants to showcase their services more effectively [3] Group 3: Compliance and Sustainability - New regulations on responding to non-compliance with laws and regulations (NOCLAR) during audits now apply to all listed entities and their subsidiaries, increasing auditor responsibility [5] - Ethical standards for sustainability assurance have been added, based on IESBA guidance, covering sustainability-related independence requirements [5] Group 4: Expanded Services - The list of Management Consultancy and Other Services (MCS) that CAs can provide has been broadened to include areas such as social impact assessment, AI-related consulting, and forensic accounting [6] - ICAI has recommended that members and their firms accept audit fees exclusively through digital payments or banking channels [6]

Core Insights - Johnston Carmichael has appointed Chris Forgan as a new tax director to enhance its tax advisory team and support growth in Scotland and beyond [1][5] - Forgan brings over a decade of experience in tax compliance and advisory, having previously worked at a Big Four accounting firm and rejoining Johnston Carmichael after serving as a tax manager [2][5] - The firm aims to provide high-quality, partner-led tax advice and Forgan will oversee tax compliance and advisory work, focusing primarily on large corporate entities [3][4] Company Strategy - The appointment of Forgan is part of Johnston Carmichael's strategy to attract and retain talented individuals who align with the company's values, contributing to its growth [5] - The firm has recently expanded its corporate tax function, adding eight new staff members during the year [5] Role and Responsibilities - Forgan will collaborate with the international tax director to develop and support corporate clients, covering areas such as corporate interest restriction, debt and loan structuring, international taxation, and tax reporting [4] - He will also provide guidance to owner-managed businesses, ensuring practical advice that aligns with commercial realities [4]

The UK Financial Reporting Council (FRC) has formally opened an investigation into Ernst & Young LLP’s statutory audit of Shell plc’s consolidated financial statements for the year ended December 31, 2024. The probe focuses on potential breaches of mandatory audit partner rotation requirements under the FRC’s Revised Ethical Standard. The investigation follows a July 2, 2025, disclosure by Shell to the London Stock Exchange, in which the energy major said EY had identified non-compliance with audit partn ...

Group 1 - The Financial Reporting Council of Britain has initiated an investigation into Ernst & Young's audit of Shell's 2024 financial statements [1]

近日，江苏证监局对永拓会计师事务所（特殊普通合伙）（以下简称"永拓所"）在鸿达兴业、恒久科 技、科林环保三家上市公司审计执业过程中未勤勉尽责违法行为一并作出行政处罚。这是2019年《证券 法》修订以来，首次禁止审计机构从事证券服务业务，彰显了监管部门对资本市场违法违规行为"零容 忍"的鲜明态度，释放出严打财务造假、净化市场生态的强烈信号。 二是立体追责打破侥幸心理。监管部门将依法严肃追究中介机构及从业人员违法责任，切实提高违法成 本，有力督促其发挥资本市场"看门人"作用。除行政处罚外，相关违法行为涉及犯罪的，也将按程序依 法移送公安机关追究刑事责任。支持人民法院开展对相关证券虚假陈述责任纠纷案件的审判工作。 三是制度完善筑牢防线根基。2025年4月，监管部门修订印发《会计师事务所从事证券服务业务备案管 理办法》，强化事前准入审查与事后监管联动。通过建立诚信档案、完善分类监管等措施，推动中介机 构从"被动合规"向"主动尽责"转变。 中介机构的执业质量关乎投资者切身利益和资本市场健康发展。此次对永拓所的重罚，不仅宣示了监管 部门维护市场"三公"原则的坚定决心，也揭示了正在构建完善的三重机制：一是强化"不敢违"的震 ...

Doeren Mayhew, an accounting practice based in Houston, Texas, US, has acquired TBK CPA, a move that it says will double its local growth in 2025. The acquisition brings nearly 35 employees to Doeren Mayhew, with four individuals joining the leadership team. Financial details of the transaction have not been disclosed. The acquisition is part of Doeren Mayhew’s growth strategy for 2025, focused on expanding its presence while maintaining its core values and vision. Doeren Mayhew Advisors Houston manag ...