ICAEW reforms annual returns

News Article - 24 May 2012
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The Institute of Chartered Accountants in England and Wales (ICAEW) has announced that it has revised the annual return to make the process less complex.

According to the organisation, the member firms due to file their returns from September onwards will be required to complete the new form, with many already having received new guidance notes.

The form is intended to be easier to complete, require less information from firms and help to reduce the "regulatory burden" on members.

Paul Simkins, director of the ICAEW's Quality Assurance Department, said that the organisation had chosen to re-assess the data required to monitor a firm's efforts to comply with legislation.

"The business and regulatory environments in which the institute and firms operate are constantly evolving and, consequently, we expect to amend the annual return in 2008," he remarked.

The ICAEW boasts over 128,000 members and claims to be the largest professional accountancy organisation in Europe.

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