AFSA reviews non-professional expenses charged by practitioners

AFSA has provided some feedback following its review of non-professional expenses charged by trustees in an insolvency administration, which was a focus of its 2015-16 compliance programme.

In an article on its website, AFSA highlights that there is considerable variation in how firms deal with non-professional expenses and is consulting with ARITA on how to provide further guidance on best practice for non-professional expenses, including clearer disclosure regarding expenses that might be included in overheads rather than directly expensed.