https://the-accountant.net/A daily-curated ledger of accounting, IFRS, internal controls and UAE/MENA regulatory news.enSat, 08 Aug 2026 06:30:03 +0000https://www.thenationalnews.com/business/economy/2026/08/07/uae-extends-corporate-tax-relief-for-small-businesses-until-2029/thenational_general-5940Fri, 07 Aug 2026 00:00:00 +0000UAE extends small-business corporate tax relief to end-2029; clarifies Dh1m turnover threshold. Direct impact on UAE tax compliance scope for subsidiaries and portfolios below threshold. (The National)https://www.grantthornton.global/en/insights/articles/insights-ifrs-17/ifrs17-intitial-recognition-and-measurement/grant_thornton_ifrs-5812Wed, 05 Aug 2026 00:00:00 +0000Big 4 explores how insurers should initially recognize and measure insurance contracts under IFRS 17, essential for finance leaders handling significant insurance obligations. (Grant Thornton)https://tax.gov.ae//en/media.centre/news/fta.confirms.taxable.persons.eligible.for.the.small.business.relief.must.submit.simplified.corporate.tax.returns.within.prescribed.legal.deadline.aspxuae_fta-5651Tue, 04 Aug 2026 00:00:00 +0000UAE corporate tax filing requirement clarification for small business relief claimants. Affects return preparation timeline and compliance obligations. (UAE FTA)https://www.frc.org.uk/news-and-events/news/2026/07/investigations-into-the-conduct-of-individual-accountants-and-regarding-an-audit-of-john-wood-group-plc/frc_news-5315Thu, 30 Jul 2026 00:00:00 +0000FRC enforcement case involving financial reporting and audit quality at a listed company; illustrates control-environment and auditor communication risks material to corporate governance assessment. (FRC)https://the-accountant.net/pwc_ifrs_talks-5291Wed, 29 Jul 2026 00:00:00 +0000IFRS 20 is a new standard affecting utility and regulated-rate entities; this episode walks through the accounting model with IASB technical input. (PwC)https://www.icaew.com/technical/corporate-reporting/corporate-reporting-resources/by-all-accounts/articles/2026/bringing-leases-on-balance-sheet-common-pitfalls-and-issuesicaew_insights-5191Tue, 28 Jul 2026 00:00:00 +0000ICAEW practical guidance on FRS 102 lease-accounting implementation; identifies real initial-application pitfalls for a recently mandated standard. (ICAEW)https://www.frc.org.uk/news-and-events/news/2026/07/sanctions-20260728/frc_news-5157Tue, 28 Jul 2026 00:00:00 +0000FRC enforcement action against a Big 4 auditor and partner; relevant precedent for audit quality, independence, and regulator expectations even outside UK. (FRC)https://www.frc.org.uk/news-and-events/news/2026/07/frc-annual-enforcement-review-highlights-lessons-to-strengthen-audit-market/frc_news-4855Thu, 23 Jul 2026 00:00:00 +0000FRC enforcement patterns and findings inform audit quality risks and common control failures relevant to group audit oversight and audit committee governance. (FRC)https://www.frc.org.uk/news-and-events/news/2026/07/sanctions-2026-07-16/frc_news-4412Thu, 16 Jul 2026 00:00:00 +0000UK audit enforcement case against Big 4 firm; instructive precedent on audit partner accountability and PwC control environment for groups with UK operations. (FRC)https://www.frc.org.uk/news-and-events/news/2026/07/sanctions-against-pricewaterhousecoopers-llp-and-mr-john-waters/frc_news-4366Thu, 16 Jul 2026 00:00:00 +0000FRC enforcement decision against a Big 4 firm — informs auditor quality standards and reminds audit committees of regulator expectations on audit rigour. (FRC)https://www.esma.europa.eu/press-news/esma-news/new-qas-available-July-2026esma_news-4071Sat, 11 Jul 2026 00:00:00 +0000ESMA released guidance clarifying three EU financial regulations covering notifications, scope, custody, and market infrastructure for firms operating EU securities entities. (ESMA)https://www.thenationalnews.com/news/uk/2026/07/10/vashi-jeweller-accountant-blacklisted-over-fictitious-157m-diamond-hoard/thenational_general-4016Fri, 10 Jul 2026 00:00:00 +0000An accounting scandal involving fake diamonds highlights gaps in audit procedures for verifying high-value assets and assessing financial risks. (The National)https://gulfnews.com/business/corporate-tax/confused-about-uae-corporate-tax-fta-answers-15-common-business-questions-1.500602775gulfnews_general-3958Fri, 10 Jul 2026 00:00:00 +0000FTA clarification of 15 common corporate tax questions. Direct source material for UAE entities filing under the new regime. (Gulf News)https://www.thenationalnews.com/business/banking/2026/07/06/uae-central-bank-fines-foreign-bank-dh18m-for-regulatory-breach/thenational_general-3662Mon, 06 Jul 2026 00:00:00 +0000CBUAE enforcement action signals tightened compliance expectations on procedural timelines for foreign bank branches operating in the UAE. (The National)https://www.grantthornton.global/en/insights/test-t29-insights-into-ifrs-16/ifrs-16---sale-and-leaseback-accounting/grant_thornton_ifrs-3624Mon, 06 Jul 2026 00:00:00 +0000Big 4 worked guidance on IFRS 16 sale-and-leaseback accounting—a high-frequency issue in corporate structuring and refinancing. (Grant Thornton)https://www.grantthornton.global/en/insights/insights-into-ifrs-16/ifrs-16---sale-and-leaseback-accounting/grant_thornton_ifrs-3623Mon, 06 Jul 2026 00:00:00 +0000Big 4 technical paper on a common transaction type (sale-leaseback) under a core standard. Useful reference for deal structuring and accounting judgements. (Grant Thornton)https://www.frc.org.uk/news-and-events/news/2026/07/sanctions-2026-07-02/frc_news-3414Thu, 02 Jul 2026 00:00:00 +0000FRC audit enforcement sanction. Useful precedent on auditor conduct standards and firm liability, though UK-specific. (FRC)https://www.esma.europa.eu/press-news/esma-news/moodys-germany-fined-eur-2145000-misreporting-esmaesma_news-3389Thu, 02 Jul 2026 00:00:00 +0000German credit rater Moody's paid €2.1 million after failing to properly report data to EU regulators, highlighting risks in compliance and internal control gaps. (ESMA)https://www.frc.org.uk/news-and-events/news/2026/07/sanctions-against-forvis-mazars-llp-and-mr-david-allen/frc_news-3351Thu, 02 Jul 2026 00:00:00 +0000The FRC sanctioned Forvis Mazars LLP and David Allen; firms should examine the case to identify audit quality risks and prevent similar control failures. (FRC)https://www.iasplus.com/en/news/2026/07/work-planiasplus_deloitte-3269Wed, 01 Jul 2026 00:00:00 +0000IASB work plan clarifies upcoming standard projects and timeline. Useful for tracking which new standards or amendments are in flight and their expected completion dates. (IAS Plus)https://www.iasplus.com/en/news/2026/07/eba-ifrs-18iasplus_deloitte-3252Wed, 01 Jul 2026 00:00:00 +0000EBA guidance on IFRS 18 implementation for banks; relevant for treasury and consolidation treatment of financial instruments. (IAS Plus)https://www.grantthornton.global/en/insights/articles/ifrs-15-insights/determining-the-transaction-price/grant_thornton_ifrs-3169Tue, 30 Jun 2026 00:00:00 +0000Big 4 deep-dive on a core IFRS 15 technical question; useful reference for revenue recognition judgements. (Grant Thornton)https://www.thenationalnews.com/business/2026/06/24/uae-central-bank-fines-foreign-bank-dh20m-for-breaching-money-laundering-rules/thenational_general-2834Wed, 24 Jun 2026 00:00:00 +0000CBUAE enforcement action signals tightening AML compliance expectations and reporting-officer accountability; patterns of similar penalties inform internal control assessment. (The National)https://www.khaleejtimes.com/uae/uae-imposes-dh20-million-fine-on-foreign-bank-for-repeated-violationskhaleejtimes_top-2827Wed, 24 Jun 2026 00:00:00 +0000UAE regulator enforcement action on a bank operating in the UAE. Provides context on compliance expectations and breach patterns relevant to internal audit and controls. (Khaleej Times)https://www.frc.org.uk/news-and-events/news/2026/06/sanctions-against-king-king-and-mr-milankumar-patel/frc_news-2696Tue, 23 Jun 2026 00:00:00 +0000FRC enforcement action against audit firm and partner; precedent on audit quality standards and auditor accountability. (FRC)https://www.thenationalnews.com/business/money/2026/06/12/uae-corporate-tax-how-one-companys-bonus-could-set-a-precedent/thenational_general-1989Fri, 12 Jun 2026 00:00:00 +0000Emirates bonus announcement may informally shape FTA interpretation of reasonable employee compensation deductibility. Worth monitoring for transfer pricing and tax-planning implications in your jurisdiction. (The National)https://www.frc.org.uk/news-and-events/news/2026/06/investigations-into-the-conduct-of-individual-accountants-auditors-and-firms-in-relation-to-market-financial-solutions-and-connected-companies/frc_news-1891Thu, 11 Jun 2026 00:00:00 +0000FRC investigation into auditor and accountant conduct signals potential breach of professional standards; comparable cases inform judgement on similar risk areas. (FRC)https://www.frc.org.uk/news-and-events/news/2026/06/investigation-regarding-the-conduct-of-a-member-in-relation-to-po-ferries-division-holdings-limited/frc_news-1811Wed, 10 Jun 2026 00:00:00 +0000FRC enforcement action against an audit firm member over P&O Ferries audit conduct; informs judgement on auditor independence and engagement quality expectations. (FRC)https://www.frc.org.uk/news-and-events/news/2026/06/investigation-regarding-an-audit-of-wh-smith-plc-by-pricewaterhousecoopers-llp/frc_news-1725Tue, 09 Jun 2026 00:00:00 +0000FRC audit investigation signals potential audit quality or judgement issues; informs assessment of similar high-profile client audits and auditor governance. (FRC)https://www.iasplus.com/en/news/2026/06/fvoiasplus_deloitte-1170Mon, 01 Jun 2026 00:00:00 +0000IASB clarifies fair value option rules for associates/JVs under IAS 28, directly affecting IFRS 18 transition calculations for equity-accounted investments. (IAS Plus)