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Today’s news in brief – 20/10/2023

Price Bailey has merged with Stephenson Smart to enhance its presence in Peterborough. Stephenson Smart will maintain its Lynchwood office, and existing clients will now be advised under the Price Bailey banner while being served by the same experts. The merger aims to provide better services to clients in the area and expand both firms’ local presence.

Haines Watts has made several appointments and promotions, emphasising its investment in local talent in Newcastle and Darlington. The firm has welcomed 15 new hires in the current financial year, including graduates and school leavers in various service lines. Additionally, the Newcastle office has celebrated five internal mid-year promotions and is actively developing its team through leadership and skills programs. Group Managing Partner Donna Bulmer expressed pride in the achievements of their staff and their contributions to the firm’s success.

Johnston Carmichael has partnered with the ICAS Foundation to support underprivileged students pursuing accountancy degrees. They will provide bursaries, mentoring, and networking opportunities to help with living expenses and educational materials. The partnership seeks to promote social mobility in the accounting profession and offers coaching in employability skills for a broader group of students.

The Financial Reporting Council (FRC) is consulting on strengthening auditor reporting requirements. The FRC aims to enhance the detection and reporting of material misstatements resulting from non-compliance with laws and regulations. Auditors will need to obtain reasonable assurance that financial statements are free from such misstatements. The proposed changes will improve the informativeness of audits and provide greater assurance to users of financial statements.

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