While the accountancy market as a whole is not expected to see seismic change, the Financial Reporting Council is in transition to a renamed and potentially augmented regulatory regime, that is if long anticipated legislation is passed under this government. The Financial Reporting Council enforcement division will be led by a new Executive Counsel, and tax advisors are awaiting further significant developments with the new budget in November. Meanwhile, all eyes will be on the anticipated judgment in NMC Health - after a dearth of case law in this area, trial in this multibillion pound claim is wrapping up and the judgment promises to shed light on numerous areas, not least tricky questions around the liability of UK firms connected to the audit of overseas subsidiaries.