All too many accountants are being caught in the act of misappropriating their clients’ funds with not one but two major high-profile cases in the news lately.
Review Period: Jul 2014
This week there’s been a raft of rows over accounting practices as not one but two companies stand accused of playing fast and loose with the rules.
Sometimes there’s simply no good news to report, and this is exactly what’s going on this week as reports roll in at home and abroad predicting stormy weather.
This week, it was revealed that taxpayers lose out on some £55 billion in tax avoidance, tax fraud, and simple error; the Chancellor wants that gap closed.
It’s never enough for Her Majesty’s Revenue and Customs when it comes to its campaign to snuff out tax avoidance, even in the face of successful feedback.
The accountancy sector has always been subject to rather tight regulatory practices – but now as the landscape evolves and changes, is it for good or for ill?
Well it’s finally come to light: accountancy firms in the UK are woefully behind the times in a number of ways, according to some recent news stories this week.
This week, not one but two major accountancy firms have been called on the carpet for their poor behaviour, and as far as I’m concerned it’s about damned time.
This week, outrage over WHSmith’s mishandling of its pensions liabilities has led to a new call for pensions accounting reform across the industry.
The UK has been dragging its feet on new EU accounting rules, but now the playing field seems to have changed dramatically over the course of the last week.