Accountancy Age has covered the objection by the Investment Management Association, whose members manage £3 billion in the UK, to IFRS 8 – the new accounting standard that allows companies to segment report on any basis they like (to be candid). They also cover my comments on the same issue. The IMA has said that
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I hear rumour that the EU is looking seriously at revisions to the Savings Directive. These are the changes that they would like to to implement:- 1) The definition of a Paying Agent would change to include foreign branches of outside the EU who have headquarters within EUSD jurisdiction e.g. the Singapore branch of a
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Accountancy Age has reported what has been known for some time, that Tesco is moving its Jersey CD and DVD operation to Switzerland. The UK put significant pressure on Jersey to push this unethical trade out of its territory (with only partial success as Jersey is allowing Play.com to stay). It’s now doing the same
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The FT reported last week that: J Sainsbury’s pension trustees have signalled to the consortium of private equity investors stalking the supermarket that it would have to tackle a hole in the pension scheme of up to £3bn to succeed in an acquisition. There is nothing new about pension deficits. We’ve seen them on a
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Isle of Man Today has reported the reaction of the Island’s Treasury Minister Allan Bell on the research Tax Research and the Tax Justice Network issued recently on the subsidy of £270 million the UK provides to the Isle of Man Government a year. What did the honourable minister have to say?: In his speech
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I’ve come across a press release from Integrity Interactive on the 2007 European Corporate Integrity Survey. It says: 99% of European companies have in place either a code of conduct, that prescribes rules about what people can or cannot do, or a statement of a set of values and principles that people are expected to
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In 1975 the UK’s Accounting Standards Steering Committee published a paper called The Corporate Report, to which there appears to be no on-line link. They said that the benefit of publishing company accounts should be the resulting ability to appraise information on: 1. the performance of the entity;2. its effectiveness in achieving stated objectives;3. evaluating
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I read yesterday’s reports of poverty afflicting the lives of more children in the UK with sadness. As a parent of young children it was hard not to. Amazingly there is one parent of a young child with the power to influence this who last week denied that poorer people in the UK pay tax.
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KPMG have issued another of their notorious press releases (noted far and wide for missing the mark). This time they have surveyed finance directors following the budget. The survey was rather small. They also imply private equity represents the FTSE, which is quite strange. But perhaps the most telling finding was this: Over a quarter
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