The submission stressed the enormous importance of the enquiry "in ensuring that much needed and meaningful change is achieved within audit, both as a service to users and as improvements to the profession".
UKSA and ShareSoc have responded to the IASB’s consultation on “ED General Presentation and Disclosures”, part of their Primary Financial Statements project and focusing on proposed changes to mainly the statement of profit or loss, leaving statements of cash flows and balance sheets to later stages. This consultation is important to shareholders as users of financial statements and especially of the statements of profit or loss to understand an organisation's main business activities and financial performance.
“Who should savers really trust? The answer could be simply: themselves and each other” Martin White, UK Shareholders' Association
We recently worked with Business and Industry on the 2020 Money Management campaign. A printed publication was enclosed within every copy of the Guardian newspaper on 15 September 2020 and the content is available online at https://bit.ly/3jCKDKZ and https://bit.ly/3bUwuX7.
The Financial Times and other outlets are reporting that Unilever could have to reverse its decision to relocate from Rotterdam to the UK if a political intitiative calling for the introduction of an exit tax in the Netherlands succeds.
Back in March 2020, in the context of various audit reform reviews and to help with their audit policy, the FRC felt the need to open up the discussion on the use of technology in audits to a wider range of stakeholders than regulators, standard setters and audit practitioners. UKSA and ShareSoc thought it was important to respond to this consultation from the point of view of a main consumer of statutory audits, private investors in shares in companies. UKSA’s and ShareSoc’s response, which was submitted to the FRC on 17th July 2020, can be found here.