Harper May | Knowledge Hub | UK Accounting Recruitment Agency

Audit reform returns with a Draft Audit Reform and Corporate Governance Bill aiming to establish ARGA with enhanced powers. The bill proposes extending PIE status, creating a new audit market regime, and easing regulations for smaller PIEs. Final details depend on legislative priorities.

Maintaining financial health is crucial for any business. Key metrics like cash flow, profit margins, current ratio, and ROI help ensure stability and guide strategic decisions. Regular monitoring and improvement of these metrics drive growth and long-term success.

Workers must meet the July 31 HMRC deadline for advance tax payments to avoid penalties. Over 1.1 million missed the January 31 deadline, and late payments incur fines starting at £100. Timely tax management and accurate reporting are essential to prevent additional costs.

Accounting is pivotal for small businesses, providing clarity on finances, enabling effective budgeting and performance evaluation. It ensures compliance, supports strategic decisions, and enhances investor confidence. By leveraging accounting insights, businesses can navigate challenges and achieve sustainable growth.

In H1 2024, London Stock Exchange saw improved IPO activity with 8 new companies raising £513.8m, though down from £593.2m in H1 2023. Notable listings included Raspberry Pi Holdings plc (£172.9m) on the main market and AOTI Inc (£35.1m) on AIM. Global IPO volumes fell 12% with proceeds down 16%, Asia-Pacific facing the largest declines amidst geopolitical tensions and economic challenges.

Remote financial management is crucial for modern organisations, offering flexibility, cost-efficiency, and resilience. Essential tools include cloud-based accounting software, virtual communication platforms, and robust security measures. Clear communication and remote team collaboration are key for success in managing finances remotely.