The era of the "friendly regulator" is officially drawing to a close. For decades, UK accountancy firms have operated under the anti-money laundering (AML) supervision of their professional bodies—organisations that naturally balance the role of regulator with that of a membership support network. That dynamic is about to change permanently. Following a consultation ...

The Statutory Overhaul is Dead. Long Live the FRC. For nearly a decade, the UK accounting profession has operated under the looming shadow of a massive regulatory overhaul. The narrative was clear: the Financial Reporting Council (FRC) was to be replaced by the Audit, Reporting and Governance Authority (ARGA)—a regulator with statutory backing and significantly sharper ...

The world of accounting is experiencing an unprecedented transformation, driven by the rapid advancements in Artificial Intelligence (AI). For accountants across the UK, understanding and adapting to these changes is not merely an option but a professional imperative.  This article will explore how AI is reshaping bookkeeping, providing a clear roadmap for embracing these ...

Automation is changing how UK accountants deliver services, but the real opportunity lies not in replacing human expertise but in amplifying it. This article explores how chartered accountants can strategically implement automation to reduce routine work, increase profitability, and position themselves as indispensable business advisors. You'll discover practical steps to ...

Continuing Professional Development (CPD) is a professional obligation for UK accountants and an essential part of maintaining competence, relevance, and compliance. Whether you're a member of  ICAEW , CIMA , AAT , or IFA , meeting CPD requirements is not only a regulatory duty—it's also a strategic career asset. In this complete guide, we break down the 2025 CPD ...

CPD for Global Accountants: 2025 Guide to Stay Compliant Continuing Professional Development (CPD) is a professional obligation for chartered accountants in the UK, particularly those affiliated with global accountancy bodies. But beyond compliance, CPD is one of the most effective ways to stay relevant, protect your credentials, and build long-term credibility in a ...

Introduction The accounting profession in the UK is undergoing a rapid transformation, driven by technological advancements, evolving regulatory landscapes, and dynamic economic conditions. For UK accountants, Continuous Professional Development (CPD) is not just a regulatory requirement but a strategic imperative to remain competent, relevant, and valuable in 2025 and ...

The short answer is YES. Whether your contract is local, interprovincial, or international, it should contain a governing law clause.  If you don’t include it, a court will choose a governing law for you.  The court will do that by applying its jurisdiction’s conflict of laws rules to find the proper law of the contract.  In Canada, the well-established rule is to apply the ...

INCOTERMS® 2020 are 11 rules issued by the International Chamber of Commerce (“ICC”).  If you’re thinking: How can they issue them?  They don’t make law.  You would be right. They are not laws.  They are terms that have been used historically in international sale of goods contracts, which are widely understood/interpreted by courts and people who deal with logistics issues. ...

Legal sovereignty is a political concept that gives States the power to govern themselves and the people within a state. It is the ultimate source of legal power and autonomy.  In a monarchy, a king or queen has sovereign power.  It is sovereignty that allows a State to create laws, like a constitution, and create/protect its border from other sovereign States.  That is, one ...

If the proper law of the contract has not been identified in the contract through a governing law clause, and it cannot be inferred from the express or implied intentions of the parties, the court will apply its jurisdiction’s conflict of laws rules to determine which legal system applies to the contract.  Where that analysis dictates that another jurisdiction’s legal system ...

There are many ways to draft a governing law clause. For our purposes, and to keep things manageable, we will focus on three types of governing law clauses, which will be referred to as: 1) simplified, 2) excluding, and 3) combined clauses.  A simplified governing law clause names a governing law jurisdiction, such as Ontario or New York state. It is “simple” in that it is ...