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Accountancy Slice
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Recent Editions

North America
Human Times
Microsoft is to require its employees to work from the office at least three days a week beginning next year. The company said the new mandate will go into effect in Puget Sound, which includes its headquarters outside of Seattle, starting in February. It will then expand to other U.S. locations before moving to international offices. “As we build the AI products that will define this era, we need the kind of energy and momentum that comes from smart people working side by side, solving challenging problems together,” Amy Coleman, Microsoft’s human resources chief, wrote in a memo. CNBC notes that Microsoft has held several rounds of layoffs this year, but Coleman wrote that “this update is not about reducing headcount,” and instead is “about working together in a way that enables us to meet our customers’ needs.”
Full Issue
UK
Human Times
Hundreds of large UK retailers could face closure under government plans to introduce a higher business rates band for properties valued above £500,000, the British Retail Consortium (BRC) has warned. The group said around 400 supermarkets and department stores are at risk, threatening 100,000 jobs and £100m in lost local revenue. The BRC argued these stores already pay a disproportionate share of rates and face mounting cost pressures. Helen Dickinson, chief executive of the BRC, said: "After years of rising costs, far too many stores have disappeared - leaving behind empty shells that once thrived at the heart of our communities. Four hundred more large stores could disappear if the Government forces them into its new higher tax band."
Full Issue
USA
Education Slice
On Tuesday, the House Appropriations Committee (HAC) advanced a bill that would reduce federal Title I funding for low-income schools by 26%. The plan, which would also cut the overall U.S. Department of Education budget by 15% to $67bn for fiscal year 2026, differs from the bipartisan proposal agreed to by the Senate Appropriations Committee in July, which recommends increasing funding for the department by around $300m. An HAC report on the bill cites disappointing student test scores, despite increases in funding, arguing that "Federal tax dollars have not been shown to result in meaningful improvement in student achievement." Attempts to prevent cuts to Title I were unsuccessful; ranking Democrat Rosa DeLauro (D-CN) said the cuts will remove at least 72,000 teachers out of classrooms in low-income communities. A measure to block funding for mandatory active shooter drills unless parents are given an opt-out for students under 16 was agreed to by voice vote.
Full Issue
USA
Accountancy Slice
According to AICPA's 2025 National Management of an Accounting Practice Survey, accounting firms are experiencing significant revenue growth, with a median increase of 6.7% in total net client fees for fiscal year 2024. This follows a 9.1% growth rate reported in the previous year. Lisa Simpson, vice president of firm services at the AICPA, said: "CPA firms have been focusing on strategic growth opportunities by refining their client base and deepening relationships with existing clients." The survey also highlights a rise in compensation for new graduates, with median salaries increasing nearly 11% for bachelor's degree holders and 17% for master's degree holders. Additionally, firms are exploring artificial intelligence and automation to enhance their services, with many expressing confidence in adapting to these technologies over the next three years.
Full Issue
Scotland
Legal Matters Scotland
The Justice Secretary Angela Constance has confirmed plans to establish standalone sexual offences courts as part of the Victims, Witnesses and Justice Reform Bill, aiming to tackle Scotland’s significant trial backlog of 17,873 cases. The proposed courts would focus on complex sexual offence cases, streamlining processes, reducing adjournments, and ensuring quicker trials. Constance argues this would improve efficiency by better deploying judicial resources across Scotland’s existing High Court and sheriff court locations. She also announced a pilot project allowing more rape survivors to deliver personal impact statements, either in person or via pre-recording. While Constance highlights benefits for victims, critics from Scottish Labour and Conservatives have raised concerns about costs, bureaucracy, and whether resources would be better spent improving trauma-informed practices within existing courts.
Full Issue
North America
Legal Slice
The Trump administration has appealed a federal judge's ruling that temporarily prevents the removal of Federal Reserve Governor Lisa Cook. Cook is accused of mortgage fraud, a claim the judge deemed insufficient for her dismissal. The appeal aims for a resolution before the Federal Reserve's upcoming interest-rate-setting meeting on September 16, 2025. The case raises significant questions about the independence of the Fed from political influence. Cook, who denies any wrongdoing, argues that the allegations are a pretext for her removal due to her monetary policy stance. The legal battle could ultimately reach the Supreme Court.
Full Issue
Europe
Risk Channel
The US Securities and Exchange Commission (SEC) has criticised two recent European laws on companies' disclosures of their environmental, social and governance impacts. SEC chair Paul Atkins said the laws, including the Corporate Sustainability Due Diligence Directive, which requires larger companies to verify whether their supply chains use forced labour or cause environmental damage, could impose costs on investors. "I have significant concerns with the prescriptive nature of these laws and their burdens on US companies, the costs of which are potentially passed on to American investors and customers," Atkins said, adding that European authorities should focus on promoting free enterprise instead.
Full Issue
North America
CFO Slice
According to a report by Morningstar, the potential impact of U.S. President Donald Trump's proposed tariffs on pharmaceuticals and efforts to reduce drug prices is expected to be manageable for major U.S. and European drugmakers. The analysis suggests that while companies may face higher long-term taxes and costs associated with relocating manufacturing to the U.S., the immediate risk from price reductions is "exceedingly low." The report estimates that an initial 15% tariff on pharmaceuticals could peak at about 4% of core profit for the companies examined, after mitigation strategies are implemented.
Full Issue