ARP meaning

Mergers The CMA has released the full text of its phase 1 decision concerning the proposed acquisition by The Alumasc Group plc of ARP Group Holdings Ltd and Rainwater Online Holdings Limited—see further, decision. NOTE—For all live mergers before the CMA, see further, UK mergers—ongoing cases tracker Subsidy control The Subsidy Advice Unit has issued its final report to the Welsh Government on the Scheme to Extend High Speed Broadband in Wales—see further, final report. NOTE—For all decisions referred to the Subsidy Advice Unit under the Subsidy Control Act 2022, see further, UK subsidy control—cases tracker Competition policy The CMA has confirmed two senior leadership appointments. Chris Prevett has been named permanent General Counsel, while Will Hayter has been appointed Executive Director of Digital Markets—see further, press release. NOTE—For a summary of all ongoing competition law legislation, guidance and other policy developments, see further, UK competition law—ongoing legislation and policy tracker Upcoming dates For dates of forthcoming UK competition developments, see further, UK...

The determination of a company’s financial year Setting a company’s financial year involves identifying its accounting reference date (ARD) and accounting reference period (ARP). The financial year aligns with the ARP, although the directors may resolve that it should finish on a day up to seven days either side of the ARP’s end. The ARP itself is fixed by the ARD, concluding on that date. Certain statutory rules about a financial year may equally extend to other companies, for example overseas companies, and to other entities; nevertheless, consideration of those applications falls outside the scope of this Practice Note...

ABI Refer to the Association of British Insurers. Accounts meeting The specific general meeting at which a company lays, or proposes to lay, its annual accounts and reports under CA 2006, s 437—most commonly the AGM. Public companies must dispatch copies of their annual accounts and reports no later than 21 days before the date of the relevant accounts meeting (CA 2006, s 424). For more information, see Practice Note: Publication and laying of annual accounts and reports. Accounting reference period (ARP) Typically a twelve‑month period over which a company prepares its accounts. If the company’s accounting period does not match its period of account, or if it extends across more than one financial year, profits must be apportioned (see accounting reference date (ARD) below and Practice Note: Basic principles of corporation tax—overview). Accounting reference date (ARD) A company’s accounting reference period is set by its accounting reference date: the period ends on that date. The ARD is usually the final day of...

This Practice Note outlines the professional indemnity insurance (PII) obligations for accountants and auditors, together with detailed guidance on the Institute of Chartered Accountants in England and Wales (ICAEW) Minimum Terms and Conditions (MTC). Regulatory setting Who is the regulator? The Financial Reporting Council (FRC) provides non-statutory oversight of how the six chartered accountancy bodies regulate their members. Each of these bodies sets its own professional indemnity insurance requirements. This Practice Note concentrates on the ICAEW, one of those bodies. As an improvement regulator, the ICAEW safeguards the public by ensuring members uphold the highest levels of professional competence and conduct. Is insurance compulsory for practice/membership? Professional indemnity insurance is mandatory for all ICAEW members who hold a practising certificate and operate in public practice. Members must follow the ICAEW PII Regulations, which specify the required level of cover, the participating insurers, and the minimum policy wording those insurers must adopt. The latest PII Regulations take effect from 1 September 2024. Is there an...