Home|Peter Herbert

About Peter Herbert

Peter is the Insight Training Director who focusses on technical programmes.



The FRC’s new Ethical Standard takes effect from 15 March 2020. Much has been said about the impact on larger firms that audit public interest entities (PIEs). Here are five to watch for smaller audit firms that don’t operate in that space:

1. Prohibition on contingent fees

Under the previous standard, firms

2020-02-07T13:05:59+00:00February 7th, 2020|

Money Laundering Mayhem

During the Autumn we’ve been delivering a number of Anti Money Laundering (AML) refresher and update sessions. Here are some of the key themes arising:

  1. Regulators are on the offensive

Supervisory bodies like ICAEW and ACCA are now regulated by an overall supervisory body called the Office for Professional Body Anti-Money Laundering Supervision (‘OPBAS’). A recent

2019-12-04T10:57:38+00:00December 4th, 2019|

Charitable Incorporated Organisations – Questions Answered

Charitable Incorporated Organisations – Questions Answered

 Charity update courses that we’ve been running this Autumn have prompted lots of questions about Charitable Incorporated Organisations (CIOs). Here are the some of the more interesting ones.

What is a CIO?

A charity structure which gives trustees limited liability but which, unlike the charitable company structure, is a ‘one stop shop’,

2019-11-04T13:19:41+00:00October 29th, 2019|


As the new academic year begins, so does the Academy school audit season. Delegates have been brimming with excitement during recent Insight Training courses! Here are five things that you must remember to do over the next few months to ensure that your audit files are compliant:

  1. Challenge pension numbers

 Because Local Government Pension Scheme

2019-09-11T12:05:03+00:00September 5th, 2019|

Important changes in pension accounting

Spring 2019 has seen a flurry of guidance about pension accounting. The changes are ‘niche’ and will not affect all organisations but will be impactful where they do apply. Here is a summary of the important issues arising:

More changes to FRS 102?

Revisions to FRS 102 published in May 2019 affect organisations that have multi-employer defined

2019-06-10T10:39:05+00:00May 28th, 2019|

Gift aid payments in charitable groups

Gift aid payments in charitable groups

Accounting for gift aid payments in charitable groups truly is the gift that keeps on giving (!) and is a topic that we’ve covered in previous blogs, notably in September 2018.

Here’s a quick reminder of the basics, which were established last year:

  • When subsidiary profits are gift-aided to a parent
2019-06-10T10:29:43+00:00February 26th, 2019|

Professional Scepticism – Easier Said than Done?!

A number of the auditing ‘scandals’ that have hit the press in recent months (in particular those concerning Carillion and BHS) have reopened the debate on whether auditors exhibit real professional scepticism.

Although auditing standards require it, it is not particularly well defined and therefore a tough nut to crack. On recent Insight Training courses, we

2019-01-28T15:10:25+00:00January 28th, 2019|


On audit update courses that Insight Training have run during the Autumn, there has been much discussion about bank confirmations. The withdrawal of the FRC’s Practice Note 16 will lead to more flexibility of audit approach in this area. But the Patisserie Valerie case, where £20M of borrowings materialised that no-one was aware of, will

2018-12-12T11:02:10+00:00November 28th, 2018|

A Question of Ethics

It’s been a tough period for the audit profession, with a number of the bigger firms hitting the headlines for all the wrong reasons. A recurring theme in a number of the cases has been independence and objectivity, and compliance with the Financial Reporting Council’s (FRC) Ethical Standard (ES). Here are seven key themes, all

2018-11-07T14:21:15+00:00November 7th, 2018|