With a new government in place, there’s huge anticipation ahead of the Chancellor’s first Budget on 30 October. Our Finance Directors’ Update course will equip you to answer the many questions sure to emerge

WORDS: FRASER ALLEN

Just four working days after the Chancellor reveals her first Budget, we’ll be ready to guide you through its key implications for finance directors and other professionals. Held online on the morning of 5 November, Finance Directors’ Update is run in conjunction with BPP and led by Michael Steed and John Moffat CA – who will be scouring every detail of Rachel Reeves’ address to the House of Commons.

And there’s more – the course will also deliver essential updates on other key topics for FDs such as FRS 102, the Economic Crime Act, ethics and sustainability standards in financial reporting, auditing issues and developments at the Financial Reporting Council (FRC).

“If you want to be properly prepared for those questions when you walk into a board meeting, this course will help you”

Michael Steed, BPP

However, as Head of Tax at BPP, Steed is likely to have the most homework to plough through on 30 October. “There’s so much interest – and it could be a big one, with a few surprises,” he says. “Although the pundits are saying it isn’t going to be a ‘corporate’ budget, because it will focus more on personal tax, everyone’s going to be asking questions about it. If you want to be properly prepared for those questions when you walk into a board meeting, this course will help you.

“For instance, there’s likely to be a lot of discussion around resident non-doms. Have we got employees who are res non-doms? What does it mean for them? Then there’s capital gains tax and how the likely changes will affect everyone. Will they remove pension tax relief?

“And who knows what else at this stage. Tax is a moving target and you need peripheral vision to understand all the possible implications. This is a valuable chance to get to grips quickly with what could be some pretty significant changes. There will be a lot of conversations within businesses on and after 30 October, and we can help you to navigate them with confidence.”

Guidance and mind-reading

Moffat will provide the same reassurance on issues such as FRS 102, sharing insights gained from his unstinting scrutiny of the ongoing periodic review. “Further guidance and understanding is beginning to emerge,” he says.

“There are issues to consider as to whether it will lead to more work in relation to how you present your financial statements, and whether you have to change your accounting approach, particularly in relation to revenue and leases. And even if you have a team to carry out any detailed work on this, it’s really important that finance directors have a thorough understanding of the implications.”

“Even if you have a team to carry out any detailed work, it’s really important that finance directors have a thorough understanding of the implications”

John Moffat CA, BPP

Moffat will also share his latest guidance on the Economic Crime Act (Transparency and Enforcement) as it progresses, plus the increasing emphasis on ethical and sustainability issues, and the latest developments coming out of the FRC. “I’ll try to do a little mind-reading,” he says. “In particular, looking at what might be on your auditor’s mind at the moment.”

There are a couple of minor changes to the course content that was previously posted on the ICAS website. “New IFRS standards” will now be covered in a separate course, and “current problems with small company reporting” will not be included as the focus is on larger organisations.

Moffat, though, expects a strong turnout at what is one of ICAS’ most popular courses. “Post-Covid, I feel there is still an issue with people not investing the time in training that they should,” he says. “This is a really good one to join and remind yourself of the value of CPD.”

Finance Directors’ Update is online live, 5 November 2024, 9.30am–1pm. Book your place here