Page 2 - Acctax News Today

UK regulators said on Wednesday they would form a taskforce to publish a report on the science of climate change to help actuaries do a better job of assessing the risks posed by global warming.

Senior Democrats in Congress have agreed to raise their proposed tax reporting threshold for bank account inflows and outflows to $10,000 a year, with exemptions for wage income, from an earlier proposal of $600 that drew criticism for being too intrusive.

Britain's Financial Reporting Council (FRC) has opened an investigation into the audit of retailer French Connection Group by accountants Mazars, the accounting watchdog said on Wednesday.

Ms McGuinness will launch a public consultation after the summer looking at company audit committees, the outside auditors who sign off on financial figures companies publish and the regulators who supervise them. It will examine whether responsibilities of company board members to provide accurate financial reports are defined clearly enough. The consultation will reflect on how to improve the role of company audit committees and whether they should be mandatory. Ms McGuinness said supervisors...