Accountancy Age has an article saying:
New PricewaterhouseCoopers UK chairman Ian Powell has used his first major speech to urge accountants to contribute to fixing the work financial system by creating an early warning system for future crises.
I can only guess he has no idea how absurd this idea is.
The current financial crisis is the result of the spread of the neo-liberal model of markets. PWC were at the forefront of promoting that.
It's happened because of de-regulation. PWC were at the forefront of promoting that.
It's happened because of a culture of corporate irresponsibility, largely based on the belief that business has no duty to pay tax. PWC were at the forefront of promoting that.
It's based on shifting transactions offshore. PWC operate in all the world's major tax havens.
It's based on accounting reforms that assume that speculation is more important than making real profit, or real anything come to that. PWC were at the forefront of promoting that.
It's been based on a lack of transparency where even banks do not trust each others accounts. PWC signed more of those accounts than anyone else.
If there is one organisation that cannot contribute a solution it is PWC.
If there are four organisations unsuited to contribute they are the Big 4.
There is a role for accountants: accountants like Prem Sikka. But not Ian Powell.
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Richard,
One element, the post states:
“….the belief that business has no duty to pay tax….”
Is TR-UK still in denial about tax incidence? Well, if an organisation believes Barney Frank is a Republican it should not be a surprise they also believe businesses pay tax.
Georges
The only people who believe in tax incidence arguments are the mad economists who also believe that neo-liberalism works
It doesn’t work
Corporations aren’t agents for their members
If incidence has relevance no one is quite sure what it is
So shall we live in the real world?
Richard
“New PricewaterhouseCoopers UK chairman Ian Powell has used his first major speech to urge accountants to contribute to fixing the financial system by creating an early warning system for future crises.”
Roger Rabbit today urged PWC and other firms of accountants to contribute to fixing the financial system by doing effectively what they are paid so much to do: conducting effective objective audits of the accounts of their clients, unencumbered by disclaimers of responsibility and scope and communicating the results of those audits fairly and comprehensibly.
Richard,
Should we dig up that Citizen’s for Tax Justice article which notes that payroll taxes (both sides) are borne by the employee?
Just a start. TR-UK is familiar with CTJ, correct?
Georges
You really are confused. That’s about personal taxation and simply says the incidence of so called employer’s liabilities suppresses reported gross wages, so the employee bears them. It’s pretty obvious stuff.
It’s far removed from your claims on corporation tax.
Don’t bother to raise the issue again: like most stuff from neo-liberal economists, it’s now history and we’re moving on
Richard