UK and International legislation

International Accounting Standards Board

The International Accounting Standards Committee (IASC) Foundation (a US-based organisation founded in March 2001) is the parent entity of the International Accounting Standards Board, an independent accounting standard-setter based in London, UK.

On 1 April 2001, the International Accounting Standards Board (IASB) assumed accounting standard-setting responsibilities from its predecessor body, the International Accounting Standards Committee. The IASB has sole responsibility for setting accounting standards.

You can subscribe to an online service on the IASB website, which provides access to International Financial Reporting Standards (IFRSs) and International Accounting Standards.

The European Commission is also responsible for implementing common policies (like the common agricultural policy); it administers the budget and manages the European Union's programmes. View the list of European Directives on the European Commission’s website.

The Internal Market and Services Directorate-General (DG Markt) is directly responsible for proposing and – once laws are adopted by the European Parliament and Council – controlling the implementation of a European legal framework in the following specific areas: regulated professions, services, company law and corporate governance, public procurement, intellectual and industrial property and postal services.

In the area of financial services, it aims at establishing the legal framework for the integration of the Union’s capital markets and the creation of a single market for financial services. For more information, view the DG Internal Market and Services website.

The Public Company Accounting Oversight Board (PCAOB) was created after the Sarbanes-Oxley Act of 2002 and is a US-based private, non-profit corporation responsible for overseeing auditors of public companies to ensure fair and independent reporting and protect the public interest.

The Accounting Standards Board (ASB) develops Accounting Standards which are contained in 'Financial Reporting Standards' (FRSs). These are designated 'Statements of Standard Accounting Practice' (SSAPs). Whilst some of the SSAPs have been superseded by FRSs, some remain in force.

Visit the ASB website to view summaries of the Accounting Standards. Payment is required for the full standards and further details are available on the ASB website.

UK and Ireland Legislation

The Information Commissioner's Office is the UK's independent public body set up to promote access to official information and to protect personal information.

The Information Commissioner regulates and enforces the Data Protection Act, the Freedom of Information Act, the Privacy and Electronic Communications Regulations and the Environmental Information Regulations.

Further information about the Data Protection act is available on the Information Commissioner’s Office website.

The Companies House website contains a wide variety of information and resources that are useful for accountants. The main functions of Companies House are to:

• incorporate and dissolve limited companies
• examine and store company information delivered under the Companies Act and related legislation
• make this information available to the public.

View the UK Companies Act 1989.(see also 2006 Companies Act)

View the Irish Companies Acts 1963-2003.

Other

The Equal Opportunities Commission is an independent, non-departmental public body, funded primarily by the government, and deals with sex discrimination and inequality relating to gender, including good practice in the fair and equal treatment of men and women. They have a comprehensive website which provides a number of useful resources that are relevant to members in all sectors of employment. 

For information about the Disability Discrimination Act, disability discrimination and good practice in relation to disabled people, please visit the Disability Rights Commission website.

For information about the Race Relations Act, racial discrimination and good practice in relation to black and minority ethnic people, please visit the Commission for Racial Equality website.