I note that the Fair Tax Mark has published its new international standard for appraisal of companies today.
Many will know that the Fair Tax Mark was created by me. In that case I think it appropriate to make clear a number of things.
First, I have now resigned from all association with the Fair Tax Mark, partly because of my concern about this international standard.
Second, the Fair Tax Foundation that runs the Fair Tax Mark has reminded me of my legal obligations not to discuss the details of this issue, and as a result I will not do so.
Third, I do however note that none of those now managing the Fair Tax Mark on a day-to-day basis has any qualifications in or practitioner experience of accounting or taxation, let alone at an international level.
I wish to make clear as a consequence that I am not offering any sort of endorsement for the standard that has been issued, for which I have no responsibility.
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A very fair remark about the new Fair Tax Mark I’d day.
“none of those now managing the Fair Tax Mark on a day-to-day basis has any qualifications in or practitioner experience of accounting or taxation”
It’s going to be hard to take The Fair Tax Mark seriously if that’s the case.
Who has left who was managing the Fair Tax Mark on a day-to-day basis?
I work in procurement within local government.
I recall a question came up at an internal meeting a couple of years ago about whether we should adopt this mark as a requirement in our procurements as a selection requirement.
I recall speaking out against it at the meeting on a number of grounds (e.g. lack of transparency, inability to ensure equal treatment), and it didn’t progress further.
It seems from this post that my reservations were justified.
Third, I do however note that none of those now managing the Fair Tax Mark on a day-to-day basis has any qualifications in or practitioner experience of accounting or taxation, let alone at an international level.
According to their website, 2 of their staff have accounting and tax experience, and their technical advisory group includes 1 accountant, 1 tax adviser, 1 ex-HMRC inspector and 1 academic specialising in accountancy and tax.
Is their website wrong?
I did ‘managing’
The rest I cannot discuss