Core Viewpoint - Scholes Chartered Accountants has acquired the Lerwick team from RSM UK, aiming to enhance its services for owner-managed, entrepreneurial clients and become Scotland's largest accounting practice in Shetland [1][4]. Group 1: Acquisition Details - The financial specifics of the acquisition remain undisclosed [1]. - The deal increases the company's team size by one-third across its office network, which includes locations such as Kirkwall, Edinburgh, Aberdeen, Laurencekirk, and now Shetland [2]. Group 2: Strategic Implications - The acquisition is seen as a vital part of Scholes CA's long-term strategy, providing specialist on-the-ground knowledge that will positively impact clients and operations [3]. - Irene Hambleton, formerly a partner at RSM UK, has become the director of Scholes CA's Lerwick office, which employs 20 people [3]. Group 3: Growth Opportunities - The transfer of ownership is expected to offer the Lerwick team more flexibility in project pursuits and continued growth opportunities, benefiting both the team and Scholes CA [4]. - Scholes Chartered Accountants serves a diverse client base across multiple sectors, including agriculture, engineering, fisheries, hospitality, and renewable energy [4].

The new rule becomes effective starting Oct. 1 for employees at the firm’s seven offices that help clients or provide back-office support across the South Asian country, according to an internal memo seen by Bloomberg News. The missive also said that staff may have to attend office on schedule because of space considerations, and failure to comply with the mandate will be tracked and taken into account during performance reviews.A spokesperson for Deloitte said in a statement that the firm’s The move by De ...

Deloitte has told its staff in India to show up in office at least two days a week or risk negative performance reviews, as the Big-Four accounting giant starts tightening its pandemic-era flexible work policy https://t.co/fcUgztaEZ1 ...

The International Ethics Standards Board for Accountants (IESBA) has published two new staff documents intended to clarify and promote the understanding of its ethics standard regarding the use of external experts, as well as the International Ethics Standards for Sustainability Assurance (IESSA). These documents will come into effect in December 2026. The publications detail important elements of the standard related to the engagement of external experts and the proportionality of ethics and independenc ...

Core Insights - Cabrillo Advisors has joined the Crete Professionals Alliance (CPA), enhancing its service offerings while maintaining its brand and leadership [1][5] - The CPA network consists of over 20 firms nationwide, providing a range of services including taxation, auditing, and bookkeeping [1][2] Service Offerings - Cabrillo Advisors specializes in business valuations and financial opinions, compliant with GAAP, IFRS, and IRS regulations, and manages valuations for transactions under ASC 805 and ASC 820 [2][3] - The firm also provides valuations for stock options in accordance with IRC 409A and ASC 718, and offers advisory services for trust and estate planning [3] Client Benefits - Joining CPA allows Cabrillo Advisors' clients to access a wider network of support services across various disciplines such as human resources, finance, legal, and IT [4] - The collaboration incorporates AI-driven tools and automated solutions to enhance client outcomes [4] Strategic Expansion - The partnership extends Cabrillo Advisors' reach by integrating global talent from offshore locations, improving recruitment infrastructure and future M&A activities [5] - Cabrillo Advisors' CEO emphasized that this partnership represents a transformative chapter for the firm, allowing clients to access a comprehensive range of integrated services while continuing to work with familiar leadership [6]

This story was originally published on CFO.com. To receive daily news and insights, subscribe to our free daily CFO.com newsletter. The chasm between older workers and younger ones is, in many ways, an age-old problem, but recent research indicates it’s only growing in the accounting field. That’s according to a survey of managers and early-career workers released Monday by the Illinois CPA Society. From April through May, the organization queried 470 respondents, which comprised 185 workers with less th ...

The Financial Reporting Council (FRC) in the UK has released two new factsheets aimed at assisting entities in the application of FRS 102 ‘The Financial Reporting Standard (FRS) applicable in the UK and Republic of Ireland’. These documents are intended to provide clarity on specific aspects of accounting standards. The first factsheet, FRS Factsheet 12 ‘Presentation of the financial statements’, details the options available to entities, including small entities, for presenting financial statements. It ...

Core Insights - PwC is reducing entry-level recruitment in both the UK and US due to economic factors and the impact of AI on job roles [2][3][7] Group 1: UK Recruitment Changes - PwC UK will hire 1,300 graduates and school leavers this year, down from 1,500 last year [3] - The UK economic slowdown and decreased investment are the primary reasons for the reduced graduate intake [4] - AI is reshaping job roles, with current investments in skills offsetting more significant disruptions, though this balance may change in the future [5] Group 2: US Recruitment Changes - PwC US plans to cut graduate hiring by one-third over the next three years [8] - The decision to slow down hiring is linked to transformation efforts, AI impact, and offshoring strategies [8] - The global labor market is increasingly competitive, prompting PwC to consider a global approach to maintain competitiveness [9] Group 3: Industry Context - Other firms, such as Deloitte UK, have also reduced their graduate and apprentice hiring in recent years, indicating a broader trend in the industry [11]

Group 1 - The core viewpoint of the news is the promotion of high-quality development of accounting in Zaozhuang City through the implementation of the newly revised Accounting Law of the People's Republic of China, effective from July 1, 2024 [1][2] - The Zaozhuang City Finance Bureau has outlined six key areas for development: accounting information construction, accounting work, intermediary management, internal control, accountability for accounting violations, and the establishment of accounting integrity [1] - The revised Accounting Law serves as a fundamental legal framework for regulating accounting practices in China, emphasizing the importance of financial discipline and oversight [1] Group 2 - Zaozhuang City has launched a dedicated section on its Finance Bureau website to provide targeted publicity on the revised Accounting Law, including 17 links for interpretation and analysis [2] - The city is actively promoting the revised law through various channels, including WeChat groups for accounting management institutions and professionals, and has organized training sessions with over 470 participants [2][3] - The Finance Department plans to integrate the revised law into ongoing education and training programs, ensuring that all accounting personnel are well-informed and compliant with the new regulations [2][3] Group 3 - Zaozhuang City participated in the Ministry of Finance's accounting law quiz activities and organized a local accounting knowledge competition, with 916 participants, ranking sixth in the province [3] - The Finance Department will treat the implementation of the revised Accounting Law as a long-term task, incorporating it into various financial management processes to ensure efficient and lawful operation of funds and assets [3]

Group 1 - The sixth Fujian Province Accounting Knowledge Competition was held in Fuzhou, focusing on key topics such as the national unified accounting system, accounting digitalization, financial supervision, and internal control [1] - The competition aimed to promote learning and practical application through the theme "Connecting Eight Min and Accounting Worldwide," organized by the Fujian Provincial Department of Finance and supported by local accounting associations [1] - Since its launch in June, nearly 20,000 units and 55,000 participants took part, with a total of 86,000 online quiz attempts [1] Group 2 - Fujian has been advancing the high-quality implementation of accounting standards, enhancing financial supervision, and accelerating the digital transformation of accounting services [2] - The province is leading in areas such as accounting talent cultivation, electronic voucher accounting data standards, and internal control construction, contributing positively to the economic and social high-quality development [2]