Northern Society of Chartered Accountants

Accounting for, and auditing of pension schemes – an update

The implementation of FRS 102 and the related pension scheme SORP from accounting periods beginning on or after 1 January 2015 has been challenging for pension schemes. This update will cover the key areas of change in respect of accounting and disclosure and how they have been tackled in practice.

The seminar will also reflect on the challenges faced by firms when auditing pension schemes and how they can successfully comply with the Clarity ISAs, whilst still maximising audit efficiency. In addition, we will update delegates on all recent regulatory changes and Pensions Regulator pronouncements which their clients will need to be aware of.

Course content will include:

• New UK GAAP – key changes for pension schemes and how these have been addressed
• Drafting revised disclosure notes – what went right; what went wrong
• Accounting and audit rules for small pension schemes – the need for an audit and for compliance with the SORP
• 10 top tips for an efficient pension scheme audit
• Reliance on service organisations when auditing pension schemes – key tips and traps
• Reporting on contributions – what goes wrong and when to qualify the audit report
• The Pensions Regulator – recent Codes of Practice and other topical issues

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Accounts update

This course is designed as an update and refresher on the developments in financial reporting. The course will look at developments that affect micro, small & medium sized companies. The course has full coverage of FRS 102, FRS 102 for small companies and FRS 105.

Content will include:

• Implementation issues with FRS 102
• FRS 102 and the changes for 2015/16 for small clients including model accounts
• Micro company accounts & FRS 105 – how they will really help your practice
• Common accounting problems for small companies
• Transitional problems to watch out for
• Other changes to company law

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Accounts & audit update

This seminar will update delegates on recent developments relating to auditing and financial accounting assignments and to highlight the practical implications, with particular reference to the early practical experience from implementing the updated FRC Ethical and Auditing Standards 2016 which are effective for periods commencing on or after 17 June 2016.

Content will include

In order to ensure the continued relevance of the course, the detailed content will be determined nearer the date of delivery, but will include:

• Accounting Update – to include changes to company law, the micros and small company accounting regimes, topical issues following the issue of updated accounting standards
• Audit and Assurance Update – to include developments in audit and ethical standards, assurance reports and related issues, including audit issues new UK GAAP
• Practice regulatory and compliance matters
• Topical and practical accounting and audit issues

This seminar is for qualified accountants in practice who need an overview of recent developments to help them identify issues relevant to their clients and firms and unqualified seniors responsible for preparing and auditing financial statements prepared under UK GAAP.

We will not review changes in IFRS except in overview.

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Making Tax digital for businesses

This session will bring you up to date with progress on Making Tax Digital, including any relevant legislation in Finance Act 2017, and the measures taken by HMRC to provide access to agents.

It is intended to give you confidence in tackling the detail of the making tax digital requirements and adapting the services you provide to your clients.

Content will include:

• Making Tax Digital – the law: Content of Finance Bill 2017 affecting this area
• The timetable – the various channels for MTD and who will join each of them at what point
• Exemptions and special provisions for certain businesses
• Quarterly updates and the annual declaration – what is involved?
• Access for agents – how will this work?
• Re-engineering your practice – what will your services look like?

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Employment Taxes – a must not miss update!

2017 sees the end of the first year operating the new employee expenses regime, and further changes afoot, including Apprenticeship Levy for some employers. It will also be an opportunity to start payrolling benefits for clients and reducing the annual P11D workload.

This course will update you on all of the changes for the new tax year, and look in detail at the changes in the expenses rules. Other practical planning and compliance points will be covered as they arise.

Content will include:

• Basic changes – PAYE and NIC thresholds; changes affecting the basic operation of PAYE and NIC; Scottish tax devolution
• Reminder : NIC for apprentices and other young workers
• Apprenticeship levy : quick outline; where to find out more
• Employment allowance for very small companies; what should director’s salary be?
• Living wage and minimum wage update.
• Auto enrolment issues coming up
• Travel and subsistence expenses – dealing with the first year end; changes to the travelling expense rules; compliance points to watch
• IR35 changes from April 2017 – is it the end of IR35?
• Changes to taxation of benefits in kind in the last 12 months; future changes that have been announced.
• Payrolling benefits – time to start? What are the issues?

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Employment Taxes – a must not miss update!

2017 sees the end of the first year operating the new employee expenses regime, and further changes afoot, including Apprenticeship Levy for some employers.

It will also be an opportunity to start payrolling benefits for clients and reducing the annual P11D workload.

This course will update you on all of the changes for the new tax year, and look in detail at the changes in the expenses rules. Other practical planning and compliance points will be covered as they arise.

Content will include:

• Basic changes – PAYE and NIC thresholds; changes affecting the basic operation of PAYE and NIC; Scottish tax devolution
• Reminder : NIC for apprentices and other young workers
• Apprenticeship levy : quick outline; where to find out more
• Employment allowance for very small companies; what should director’s salary be?
• Living wage and minimum wage update.
• Auto enrolment issues coming up
• Travel and subsistence expenses – dealing with the first year end; changes to the travelling expense rules; compliance points to watch
• IR35 changes from April 2017 – is it the end of IR35?
• Changes to taxation of benefits in kind in the last 12 months; future changes that have been announced.
• Payrolling benefits – time to start? What are the issues?

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Redworth 2017 – Tyne & Wear General Practitioners’ Conference

Details of the 2017 Conference can be found here

Join us for the Tyne & Wear General Practitioners’ Conference 2017 at Redworth Hall Hotel, County Durham.

Our conference is open to all general practitioners.  Whether you are a regular attendee or joining us for the first time, we look forward to seeing you in March 2017.

Join us for interesting lectures and networking.

As usual our speakers will provide up to the minute lectures on the changes affecting the profession as well as tackling topics that are problematic to practitioners.

Our speakers are drawn from all areas – geographically as well as topically – and have a wealth of experience to share. We look forward to welcoming you to another excellent conference.

Speakers

Confirmed speakers include:

• Rebecca Benneyworth
• Bill Telford
• Carole Almond
• Chris Burton
• Carl Bayley
• Andrew Drummond

Topics include

Micro accounts

Ethics & Auditors

Charity Accounts

Intellectual property & Patents

Digital Tax

Property Tax

PCRT

Employment Law

Grants – What’s available and how we get them

Time management for maximum effectiveness

Back by popular request, Rebecca Benneyworth will be repeating her ‘on request’ session. You can send in requests to Rebecca at [email protected] up to Monday 27 February 2017 or hand in requests on the Friday saying what you would like her to talk about and, on Sunday morning, she’ll deliver your own personalised lecture.

Booking information

When you book you will only be charged for the conference element, the accommodation charges are paid to the hotel on the weekend itself. We will continue to book the rooms for delegates (and spouses, if required) at our preferential rates.

Booking before 30 November 2016

Residential delegates £180.00 +VAT

Non-residential delegates £230.00 +VAT

Bookings after 30 November 2016

Residential delegates £210.00 +VAT

Non-residential delegates £260.00 +VAT

Redworth Hall Hotel charges for the weekend will be (including VAT):

Single accommodation: £224

Twin or double (per delegate): £148

Spouse/partner (non-delegate) sharing accommodation £42 per night (dinner, bed and breakfast)

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Small charities accounting & independent examination update

Accountants acting for small charities continue to face a major challenge keeping abreast of fast-changing rules and guidance issued by both accountancy bodies and the Charities Commission.

A key change for 2017 is the new Charities Commission rules on the conduct of independent examinations, which are expected to take effect for accounting periods ending on or after 31 March 2017.

This half day seminar will clarify recent accounting rule changes, in particular those affecting smaller charities, and provide practitioners with a range of practical tips to ensure that they and their clients are complying with them.

Content will include:

• The new Charities Commission rules on independent examination – what changes and how to comply
• The choice of SORPs for smaller charities – what’s happened in practice
• New GAAP for small charities – 12 months on what were the real problem areas?
• Tricky areas of accounting and where smaller charities often go wrong (e.g. accounting for grants; accounting for restricted funds)
• The demise of Kids Company – lessons learnt for smaller charities and their advisors
• Common problem areas in independent examination files – a file reviewer’s perspective
• Accounts production for smaller charities – what the software gets wrong; and how to put it right
• Charities Commission roundup for smaller charities

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Fraud prevention & anti-money laundering compliance

This practical half day seminar will remind and update delegates on exactly what they need to do to comply with the Anti-Money Laundering Regulations and related legislation.

The seminar will also provide an insight into where the most common fraud risks exist within the SMEs and how delegates can best advise their clients to minimise risk. Throughout the seminar there will be a big focus on real-life case studies.

Content will include:

• Accountants’ obligations under the Money Laundering Regulations and where they go wrong
• The 4^th Money Laundering Directive – what it is and how it will affect business practices
• What the Small Business Enterprise and Employment Act means for AML compliance
• The meaning of fraud and its implications for business
• Different types of fraud that affect accountants and their clients and how to stop them happening
• An insight into recent NCA cases and what accountants can learn from them
• Practical guidance on essential anti-fraud controls needed in owner-managed businesses and charities
• Cybercrime – what it is and how to address the warning signs

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***Additional Event*** Charity finance update including FRS 102 SORP

After years of anticipation new UK GAAP is finally with us. Given recent adverse publicity about alleged abuse of charity assets and financial mismanagement the Charity Commission has also issued revised financial guidance for trustees emphasising the need for them to be aware of their responsibility for financial matters in areas such as setting and monitoring reserves, giving to non-charitable organisations etc.

All of this is in set within the context of charities being under more scrutiny – within the sector from the Charity Commission and from donors and beneficiaries.

In this session we will review the updated company law provisions and the practical application of new UK GAAP and the SORP, together with the implications of the recent updated Charity Commission finance guidance, directly on the accounts and on the day to day operations of the trustees.

Company charities and the implementation of the EU Directive

New UK GAAP and the Charities SORP with particular emphasis on small charities and the proposed withdrawal of the FRSSE SORP

Transitioning to new UK GAAP and getting your first accounts right

Updated Charity Commission guidance

• Managing a charity’s finances: planning, managing difficulties and insolvency (CC12):
• Charity reserves: building resilience (CC19):
• Charity governance, finance and resilience: 15 questions trustees should ask

Issues for academy schools

Designed for

Partners and staff involved in the preparation of accounts and audit of charities, trustees and accounting staff within charities.

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