IAS meaning

In this issue: Horizon scanning Public sector Pay Benefits Tax Protected characteristics Maternity, parents, and carers Corporate governance Financial services and banking: employment issues Bribery, modern slavery, tax evasion and fraud Settlement Employment Tribunals Northern Ireland Dates for your diary Trackers New Q&As Employment resources on Lexis+® Daily and weekly news alerts Horizon scanning RPC publishes red-rated opinion on Employment Rights Bill Impact Assessments The Regulatory Policy Committee has issued its view on the Employment Rights Bill’s Impact Assessments, rating them not fit for purpose. The Bill, which intends to revise employment rights, redundancy procedures and labour market enforcement, was examined via a summary IA and 23 standalone IAs. Eight of those individual assessments were found wanting, with six in the highest impact bracket. The RPC advises adding broader macro-economic analysis and stronger evidence for the case for intervention, the selection of options, and the...

The Companies Act 2006 (CA 2006) provides comprehensive rules governing how a company prepares its annual accounts. Through the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911 (the 2008 Regulations), selected elements are extended to limited liability partnerships (LLPs), with suitable adaptations. The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016, SI 2016/575 (the 2016 Regulations) introduced a range of amendments to the accounting framework for LLPs and qualifying partnerships. Further alterations affecting LLPs and other bodies were made by the Statutory Auditors Regulations 2017, SI 2017/1164. In most cases, the changes take effect for LLPs with financial years commencing on or after 17 June 2016; however, the stricter conditions on the small LLPs’ exemption from preparing group accounts apply to periods starting on or after 1 January 2017. This Practice Note, read alongside Practice Note: LLP Accounts—an outline of the statutory framework, distils the key obligations contained within these statutory provisions...

THIS PRACTICE NOTE APPLIES IN RELATION TO DEFINED BENEFIT LIABILITIES How defined benefit (DB) liabilities ought to be assessed depends on a number of factors, in particular: the valuation approach to be adopted. Common exercises undertaken comprise the following: scheme-specific funding valuations as required under Part 3 of the Pensions Act 2004 (PeA 2004) solvency (or buy-out) valuations as required by the Occupational Pension Scheme (Scheme Funding) Regulations 2005, SI 2005/337, reg 7 valuations required by the PeA 2004, ss 143 and 179 (often described respectively as s 143 valuations and s 179 valuations) neutral estimates to meet the requirements of Technical Actuarial Standard 300 (Pensions) cash equivalent transfer values (CETV) as specified under the Occupational Pension Schemes (Transfer Values) Regulations 1996, SI 1996/1847 IAS19 and UK GAAP valuations whether the liabilities under review concern past service or future service, as distinct categories This Practice Note sets...

Key information IAS Regulation title: Regulation (EU) 1143/2014 on preventing and managing the introduction and spread of invasive alien species (the IAS Regulation) Entry into force: 01/01/2015 Transposition deadline: N/A; as a directly applicable Regulation, no national transposition is required Amendments: Regulation (EU) 2016/2031 on protective measures against pests of plants, amending Regulation (EU) 228/2013, Regulation (EU) 652/2014 and Regulation (EU) 1143/2014, and repealing Council Directive 69/464/EEC, Directive 74/647/EEC, Directive 93/85/EEC, Directive 98/57/EC, Directive 2000/29/EC, Directive 2006/91/EC and Directive 2007/33/EC Applicable from: 14 December 2019 Subject: Invasive species Background The EU Biodiversity Strategy to 2020, adopted in May 2011, announced a dedicated law to address invasive alien species. Its fifth target sought that, by 2020, IAS would be identified, priority species controlled or removed, and pathways managed to stop new invasions undermining European biodiversity. Action 16 committed to creating a legal framework to combat IAS. The Strategy’s mid-term review (October 2015) clarified the case for the IAS Regulation,...