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Accounting and Audit

FRC Investor Event on 3rd December 2018

Post Date: December 5, 2018
This was a very well attended, very successful event held at the FRC office at 125 London Wall. An attentive audience of over 70 UKSA and ShareSoc members listened to senior members of the FRC team: Tracy Vegro (below), Jen Sisson, Carol Page, Andrew Meek, James Ferris, David Johnson, Claudia Mortimer, Catherine Horton, Marian Williams, Phil Fitzgerald and Deepa Raval. The FRC and the audit profession are being pilloried and heavily criticised. So, this was a chance for the FRC to explain what ...
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Too Much Cash, Wey Education and Patisserie Accounts

Post Date: November 22, 2018
Are you stacked up with cash in your ISAs, SIPPs, and direct portfolios? As a dedicated follower of fashion (if the markets are falling as investors sell, then so do I) it is of some concern that the cash is not earning any interest. There was some relatively good news yesterday from soon to be listed A.J.Bell Youinvest. They are increasing the interest they pay on cash held in portfolios. Previously you got 0.05% on balances more than £50,000. It will ...
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Earthport Accounts, City of London IT and Patisserie

Post Date: November 2, 2018
Earthport (EPO) is the latest AIM company to report that its past accounts are not all they should have been. Following a review by the new CEO and CFO, it seems there have been errors in reporting of forward foreign exchange transactions. This will result in fair value adjustments and a reduction of £6.3 million to £16.6 million in the net assets of the group at June 2017. Likewise adjustments are required to previous years. Reported earnings are also reduced although ...
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8pm Tuesday, 7 August, the BBC Radio 4 documentary ‘The Equity Release Trap’.

Post Date: August 6, 2018
Make a date in your diary for 8pm Tuesday, 7 August, for the BBC Radio 4 documentary ‘The Equity Release Trap’. The documentary investigates the claims of Professor Kevin Dowd, professor of finance and economics at the University of Durham, that the equity release sector has been seriously under-valuing embedded guarantees, and that the regulator, the Prudential Regulation Authority, has only made half-hearted attempts to address these under-valuations while permitting them anyway. The implications for some of the firms involved could ...
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