Power in your hands

Article Abstract:

UK accounting firms can reduce their energy costs through a tariff analysis which identifies advantageous price and tariff arrangements. Utility customers in the UK are charged on a tariff basis, which is a complex pricing structure that is prone to frequent change. Tariffs are mix-and-match figures that local utility boards set individually to keep in alignment with the demands of their users. Tariff analysis can help a firm select the most economical arrangement of tariffs as tariffs. Tariff analysts, who have a knowledge of all possible tariffs, give firms the expertise for negotiating favorable arrangements with utility suppliers. Tariff analysts do a cost analysis of all the firm's paid energy consumption to confirm the accuracy of the billing and to develop a picture of a firm's energy use. The tariff analyst then completes a report recommending specific action to obtain refunds for overpayment and to cut costs. Firms can reduce their energy costs through a process of continuous auditing and examination to ensure that the firm is receiving the optimum rate from energy suppliers.

Analysis, Economic aspects, Energy conservation, Energy auditing

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Why bother about engagement letters?

Article Abstract:

The Financial Services Act 1986 (FSA) deems that all clients receive engagement letters by Apr 1989 which follow Institute of Chartered Accountants of Scotland guidelines, and reveal the services being provided to clients. It is now a criminal offense to conduct any FSA-defined business investment services before receiving authorization. The FSA requires the engagement letters to follow certain a form, including such elements as: confirmation of instructions; corporate finance activities; and specific investment business. The terms of the engagement letter must be agreed to in writing by a client before firms can engage in any investment business for a client.

Laws, regulations and rules, Auditing, Great Britain, Business letters, Commercial correspondence

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Big firms say 'yes' to LLP status

Article Abstract:

Issues are presented concerning the growing number of large accountancy firms who are electing to become limited liability partnerships. This trend is not to be found among the medium sized accountancy firms.

Limited liability

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