This was recorded late last year - but is well worth sharing. It's my good friend Prem Sikka in action:
Hat tip to another good friend - Dr Atul Shah.
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Brilliant and articulate lecturer – thanks for putting this on the site, it was very useful for me and my self-education in this area. The idea that these companies form a sort of ’56th biggest economy’ in themselves is an eye opener to say the least. Also disturbuing, is that this ‘industry’ is attracting academically very bright people and thus creating a sort of misallocation of human creativity. Sounds like the costs of investigating all of these companies could pay off a good chunk of the national debt. Accounting doesn’t seem boring with a professor like him!
I am not an accountant or anything like it and as such found this most illuminating. I honestly struggle to understand how HMRC can shed so many jobs whilst the evasion business is booming like this. The actions of these accountancy firms is bordering on (and crossing that border too) criminal so where does that leave the people responsible for decimating HMRC?
Responsible for failure
im sure it was said for effect, but to state as a fact that the first training session you receive on joining a firm is how to create a structure to avoid tax is plainly ridiculous.
anyone coming out of university with a non-financial degree wont know what all the taxes are let alone how they interact with each other. The first training session is “this is what income tax, Capital gains tax, inheritance tax are and how they work”.
I assume you might remember your first training session at your first firm RM?
It was double entry
Equally I was trained how to create offshore structures
A very interesting talk. For the last five years I have been trying to draw attention to financial malpractice in the NHS involving conflicts of interest,insider dealing and persistent breaches of accounting rules in audited accounts.
Every individual and organisation with a responsibilty to act to prevent the abuses has brushed aside or ignored the warnings including the Head of the National Audit Office.
Financial malpractice in the public sector (half of the UK economy) is a cancer that corrodes and undermines the efforts of those who strive to maintain public service values.
Perhaps I should have mentioned that the ‘audited accounts’ with persistent irregularities were audited by a Big Four firm and that the irregularities continued long after the whistle was blown.
Gary. Thanks for this little insight, much appreciated in terms of my ongoing attempt to build a more complete picture of how corrupted public administration and management have become. No doubt the situation is set to get worse as we head further down the road to a privatised NHS.
In terms of raising wider interest in this issue, have you been in contact with Private Eye? I’d be surprised if they weren’t interested.
Also, as you say you’ve been in contact with the NAO (and the fact that they’re not interested doesn’t surprise me at all given what we now know about Amyas Morse’s attitude to investigations – i.e. HMRC’s sweetheart deals) what about contacting Margaret Hodge, chair or the PAC.
I will be happy to provide you with more information but cannot commit to doing this within the next two weeks. Let me know if you are interested.
I blew the whistle to Monitor’s ex-KPMG COO in June 2008 accompanied by a request that Mr Hay alerted the respective audit firms (KPMG & PwC)to the dubious conduct of directors of the PCT and Foundation Trust most closely involved. The malpractice continued uninterrupted.
In March 2010 I blew it again to the PAC & NAO. The malpractice continued uninterrupted.
Late last year I raised the issue again with the PAC/NAO followed in March this year by an FOI request to the NAO. You can see the FOI request and responses here.
https://www.whatdotheyknow.com/request/nhs_audits#incoming-387524
I am afraid that, in my opinion, the NAO response does nothing to allay concerns or enhance the reputation of Amyas Morse, Margaret Hodge or the previous PAC Chair.
Forgive me if I don’t comment here on Private Eye except to say that it provides a vital service.