In July 2026, the Just Audit team, now almost 20-strong, gathered together in Derbyshire to celebrate the successful, independent audit model that has supported accountancy firms and their clients for 20 years. The team spent 3 days together, each traveling from home offices from across the UK, to share knowledge, attend training sessions and workshops and enjoy some downtime as a team.

The revised lease accounting requirements in FRS 102 extend beyond initial recognition. Following commencement of a lease, lessees are required to apply ongoing measurement, reassessment and disclosure requirements throughout the lease term. These requirements are set out in Section 20 of FRS 102 and apply to leases recognised under the revised lessee accounting model.

Periods beginning on or after 1 January 2026 are subject to significant changes to lease accounting under FRS 102. The revised requirements remove the previous distinction between finance leases and operating leases and bring nearly all leases onto the balance sheet.

ICAEW has recently updated its engagement letter templates, reinforcing the message that firms should be actively reviewing and refreshing their engagement letters and terms of business.

The Government’s announcement last October that the Financial Conduct Authority (FCA) will become the single professional services AML supervisor took a lot of people by surprise. The announcement was not expected to land when it did.

The Government’s ‘failure to prevent fraud’ offence came into force on 1 September 2025 under the Economic Crime and Corporate Transparency Act 2023 (ECCTA). This marks a major shift in how corporate fraud is prosecuted, and there is a concern that many professional services firms may not yet appreciate the risks it may create for them.

Karen Eckstein Ltd frequently advises professional services firms on the contractual issues relating to AI, as well as commercial, operational and procedural issues (see below). They also include the changes proposed by ICAEW in proposed terms for all professionals, as they think that they represent best practice generally.

The 3 verification options for ACSP

Whilst most accountancy firms are aware of the new Authorised Corporate Service Provider (ACSP) regime and may have decided to register as an ACSP so that they can file documents at Companies House on behalf of their clients, we have noticed that many other professional service firms have not realised that they may be caught by the ACSP regime if they also file documents at Companies House. For example, insolvency practitioners, law firms, tax advisers, and many more may find