Given recent proposals from the International Ethics Standards Board for Accountants with potential changes for the Code of Ethics for Professional Accountants, small- and medium-sized practices need to start preparing for some of the more significant changes coming their way.
The third Exposure Draft that was issued by the International Ethics Standards Board for Accountants in January 2017 as part of the Structure of the Code (Structure) project is open for comment until May 25, 2017—and is the final opportunity for the SMPs to say their piece on the Structure.
Insolvency services, frequently provided by accountants, are in demand during both good and bad economic times.
SMPs must address the challenges of finding and retaining high-quality staff including setting the right tone at the top.
Helping business and individuals in financial distress is a fundamental part of what accountants are well positioned to do.