Accountancy Age articles from January 2008

Accountancy Age archives from January 2008

Face the music.
January 7, 2008... Byline: damian wild view from the board: face the music Imagine that you are an executive of a business in trouble. How forthcoming can you afford to be about the problems? The answer is normally simple: pull down the shutters and...

matter of trust.
January 10, 2008... Byline: Steffi Gande matter of trust Executive vice president of ABB, Michel DemarA[c], who played a major role as CFO in the beleaguered Swiss-Swedish electrical engineering group turnaround, recently claimed that a rebuilt climate of...

a world of difference.(Survey)
January 10, 2008... Byline: Dr Atul K Shah a world of difference Professional bodies are a magnet for minorities of all kinds A- they provide a way for them to break the class barrier and maximise their skills and potential. In the UK, the accountancy...

Draft leaves SMEs in the cold.
January 10, 2008... Byline: richard aitken Draft leaves SMEs in the cold One of the most important consultation documents of recent times went critical at the end of last year. The International Accounting Standards Board extended the consultation on its...

Iti?1/2s not rocket science.
January 10, 2008... Byline: richard reid It's not rocket science The launch of the report of the Prince of Wales' Accounting for Sustainability Project just before Christmas was hugely important. For the first time, business and the public sector now...

Radical reforms to transfer pricing.
January 10, 2008... Byline: Nicholas Neveling Radical reforms to transfer pricing Tax Nicholas Neveling The taxman is to release statistics for the number of transfer pricing enquiries it settles for the first time ever in April this year. ...

Taxman launches change process to rebuild confidence.
January 10, 2008... Byline: Kevin Reed Taxman launches change process to rebuild confidence TAX Kevin Reed Senior management at HM Revenue & Customs has failed to inject pace, confidence and dynamism into the department, an influential report...

new year? new tax rises?
January 10, 2008... Byline: Nicholas Neveling new year? new tax rises? Will 2008 see Alistair Darling forced to hike taxes? Bear with me, it is not quite as absurd as it seems. If various economists, such as PricewaterhouseCoopers' John Hawksworth,...

People and moves...(appointment of Richard Timmins at Polestar)(appointment of Mark Fletcher at Audit Commission)(appointment of Henry Wallis at Audit Bureau of Circulations)(Brief article)
January 10, 2008... Byline: Rachael Singh People and moves... Job to die for: fd of polestar Our gong for bagging this week's top job goes to Richard Timmins, who becomes group financial director of independent printing company Polestar this month....

Network fail.
January 10, 2008... Byline: Nicholas Neveling Network fail On a grey morning on January 2 200,000 people, already trying to shrug off the post-Christmas blues, found themselves stranded on cold station platforms or sardined into overflowing carriages...

on the money with Gavin Hinks.(Brief article)
January 10, 2008... Byline: Gavin Hinks on the money with Gavin Hinks I have resisted making New Year's resolutions with the full knowledge that I would fail in my efforts to keep them. Instead, I will take a punt at naming the...

EC forges ahead with ownership reform.(European Union. European Commission)
January 10, 2008... Byline: Penny Sukhraj EC forges ahead with ownership reform audit Penny Sukhraj Reforming audit ownership rules to allow outside investment into the profession has been hailed by regulators as the silver bullet that could...

Insolvency law reverse protects retailers from impact of Trident ruling.
January 10, 2008... Byline: Kevin Reed Insolvency law reverse protects retailers from impact of Trident ruling business recovery Kevin Reed The government has taken the long-awaited step of protecting companies in administration from paying...

Young wins board role for Max effort.
January 10, 2008... Byline: David Jetuah Young wins board role for Max effort David Jetuah Max Petroleum has said that FD Michael Young will be granted board status 17 months after joining, during which time he has seen the company through one of the...

Brewing up a storm.
January 10, 2008... Byline: David Jetuah Brewing up a storm Q It was a very wet summer. How much did the flooding cost you and is that the end of it? A The biggest impact we've seen was during the two lots of flooding during June and July. For the 10...

KPMG Barclays palava.(appointment of Mike Rake at KPMG Consulting Inc.)(Brief article)
January 10, 2008... Byline: TS TS was hanging out with heads of KPMG past and present just before Christmas, and we can relay to you new worries about the firm's future. John Griffith-Jones, the current head, has expressed concern that Sir Mike Rake, the...

Off to a slow start.(Brief article)
January 10, 2008... Byline: TS Off to a slow start TS has discovered that some of the profession's leading lights have had a less than rapid start to the year. Unlike TS, who was back on 2 January gathering gossip and looking forward to a year of...

work it, read it, predict it.
January 10, 2008... Byline: Accountancy Age work it Want a new job, promotion or a raise but can't hold to your New Year resolutions to get them. Well there's a website dedicated to people like you who need a helping hand. Make those resolutions stick....

Winner dines out on tax tale.
January 10, 2008... Byline: TS Winner dines out on tax tale As a big fan of fine dining and exclusive menus (lunch invites always welcome), TS always enjoys reading Michael Winner's restaurant column in the Sunday Times. Imagine TS' surprise then...

TV turn-off boosts online filing.(television)(Survey)(Brief article)
January 10, 2008... Byline: TS TV turn-off boosts online filing You will of course remember that in 2006 TS revealed that a whopping 84 (sad) individuals, or their advisers (sadder), filed self assessments returns online on Christmas day. Yet an...

obamai?1/2s record speaks against tax abuse Barack Obamai?1/2s success in the US presidential primaries raises some interesting issues for accountants across the pond, not least on his co-operation with other politicians on the Stop Tax Haven Abuse Act, which doe.
January 10, 2008... Byline: Gavin Hinks obama's record speaks against tax abuse Barack Obama's success in the US presidential primaries raises some interesting issues for accountants across the pond, not least on his co-operation with other politicians on...

Andersen still a political donor.
January 10, 2008... Byline: TS Andersen may not be one of the Big Five any longer, but it is still, amazingly, making political donations. Records of donations made by the staff of the firm show that they gave $500 ([pounds sterling]253) in 2006. How,...

Peer pressure woni?1/2t achieve Princei?1/2s aims, claims charity.
January 10, 2008... Byline: Alex Hawkes Peer pressure won't achieve Prince's aims, claims charity Alex Hawkes Companies may have to be forced to adopt green accounting, a charity has said, even given the enthusiastic reception to Prince Charles'...

Lloyds TSB finance chief wins honour.
January 10, 2008... Byline: Kevin Reed Lloyds TSB finance chief wins honour Kevin Reed Lloyds TSB group finance director Helen Weir and former CIMA president Claire Ighodaro topped the awards for the finance profession in the New Year's Honours List....

Retired member faces first tribunal.(Brief article)
January 10, 2008... Byline: Kevin Reed Retired member faces first tribunal Kevin Reed A retired accountant who says he is now spending his time doing charity work is the first ICAEW member to come before its new public discipliniaries. The...

Treasury withholds non-dom facts.
January 10, 2008... Byline: Alex Hawkes Treasury withholds non-dom facts Alex Hawkes The Treasury has refused to reveal when it first proposed its [pounds sterling]30,000 charge on residents non-domiciled, amid claims that the government stole the...

Obama ignored by US accountants.(Brief article)
January 10, 2008... Byline: Gavin Hinks Obama ignored by US accountants Barack Obama may have pleased Democrats in the US but he remains alienated from the accountancy profession, writes Gavin Hinks. While other candidates in the Presidential...

Crime agency to outsource reports.
January 10, 2008... Byline: Nicholas Neveling Crime agency to outsource reports Nicholas Neveling The Serious Organised Crime Agency is considering plans to outsource the database used to record suspicious activity reports, despite recent data losses...

outrage at nao top execi?1/2s mongolia trip The National Audit Officei?1/2s second-in-command has come under fire after a leading MP questioned the necessity of a trip to Mongolia. Tim Burri?1/2s flights and hotel room for the 2006 trip were paid for by the taxpayer.
January 10, 2008... Byline: Alex Hawkes outrage at nao top exec's mongolia trip The National Audit Office's second-in-command has come under fire after a leading MP questioned the necessity of a trip to Mongolia. Tim Burr's flights and hotel room for the...

Institute critic caught up in i?1/2dodgyi?1/2 university row.
January 10, 2008... Byline: Kevin Reed Institute critic caught up in 'dodgy' university row Kevin Reed A well-known member and critic of the ICAEW embroiled in a row over a university that he admits is 'dodgy' has said he is working to help sort out...

Online filing to break four million barrier.
January 10, 2008... Byline: Kevin Reed Online filing to break four million barrier Kevin Reed Self-assessment online filings are set to hit the four million mark this year, despite the largest firms holding back from filing online for all of ...

M&A rule bites chunk out of company profits.
January 10, 2008... Byline: Penny Sukhraj M&A rule bites chunk out of company profits Penny Sukhraj Companies will be forced to reveal fees paid to advisers on major mergers and acquisitions in their earning figures. The move, announced by the...

GT prepares to join FTSE100 club.
January 10, 2008... Byline: David Jetuah GT prepares to join FTSE100 club David Jetuah Grant Thornton is on the verge of breaking into the FTSE 100 audit market A- with a contract worth less than [pounds sterling]30,000. The mid-tier firm...

Make the most of it.(Brief article)
January 10, 2008... Make the most of it l Difference is an opportunity, not a threat l Organisations need to treat their employees 'holistically' A- as wholes and not parts l Open-mindedness needs to be nurtured and encouraged l Empowerment...

commercial break.(Paul Richardson)(Interview)
January 17, 2008... Byline: nicholas neveling commercial break There are not many finance directors who have the same understanding of the modern world's two greatest financial centres as Paul Richardson. Whether he is strolling into the office down...

Year of the Finance Director.
January 17, 2008... Byline: mark freebairn view from the board: YEar of the Finance Director Like all of you, I read the headlines of many daily papers and I watch the news. So, again like most of you, I know the market has fallen off a cliff. I also...

time to i?1/2fess up.
January 17, 2008... Byline: david phillips time to 'fess up An effective remuneration report can take the heat out of this area of reporting and help to build investor understanding and support. Executive pay packets will always attract high...

proceed with caution.
January 17, 2008... Byline: Aon proceed with caution From this year new disclosure requirements mean that UK companies must include a business review within the directors' report, unless subject to the small companies' regime. It should contain a fair...

Anxiety heightens after delay of non-dom reforms.(non-domiciled residents)
January 17, 2008... Byline: Nicholas Neveling Anxiety heightens after delay of non-dom reforms tax Nicholas Neveling The consultation into reforms to the taxation of non-domiciled residents only closes at the end of February, but advisers are...

People and moves...(Brief article)
January 17, 2008... Byline: rachael singh People and moves... Job to die for: fd for Axismobile This week's top job has been bagged by Uri Darvish, who landed the role of finance director for AxisMobile, the consumer mobile email specialist. He takes...

what investors want.(Brief article)
January 17, 2008... what investors want Feedback from investors indicates the key content they would like to see in an organisation's remuneration report: l An articulation of the organisation's overall remuneration policy and the principles and purpose...

Brush Up, Schedule it, Wise up.(Brief article)
January 17, 2008... Byline: michelle perry brush up Consequences filtering down from the credit crunch are manifesting themselves in the form of job cuts. Although finance recruiters reject a hiring dip, there's no better time than now to review your...

Not a penny more.
January 17, 2008... Byline: Margaret Ewing Not a penny more The long boom in corporate borrowing may be drawing to an end. Disruption in credit markets last year and expectations of slower economic activity seem to be reshaping attitudes among larger UK...

on the money with Gavin Hinks.
January 17, 2008... Byline: Gavin Hinks on the money with Gavin Hinks Sir John Harvey-Jones, that troubleshooter and icon of British business, passed away last week aged 88. He was remembered for his work at ICI and heading the first...

university challenged.
January 17, 2008... Byline: Kevin Reed university challenged Outspoken against the merger, and against many things the ICAEW has done over the past ten years or more, Jeff Wooller this week faces the critics himself. The vocal critic of the Institute...

Time for a comeback.(Her Majesty's Revenue and Customs )
January 17, 2008... Byline: Michael Izza Time for a comeback Much has happened at HM Revenue & Customs since the two CDs containing the personal details of 25 million people were reported missing last November. Dave Hartnett has taken over as acting...

Eagle's wings clipped.(Angela Eagle)(Brief article)
January 17, 2008... Byline: TS Eagle's wings are clipped It was a rough old day for Treasury exchequer secretary Angela Eagle last week, as she appeared before the Treasury select committee. Eagle, of course, was previously a member of the...

M&A rule changes to enlighten investors.(mergers and acquisitions)(Brief article)
January 17, 2008... Byline: David Jetuah M&A rule changes to enlighten investors David Jetuah Global standard setters believe they have taken a major step in giving investors a better impression of the value of business deals after tweaking M&A...

In sharp focus.(Brief article)
January 17, 2008... Byline: David Jetuah In sharp focus Q What exactly was the impact from depreciation of the dollar, because you've come under fire for lack of transparency on this? A Well, overall, probably not as much as people think. The total...

why look for solutions, if there isni?1/2t a problem? i?1/2We found no compelling need to take action.i?1/2 Those are the words of the US Government Accountability Office (GAO) after looking into audit choice in the US. The report, out last week, concluded that in.(Brief article)
January 17, 2008... Byline: Accountancy Age why look for solutions, if there isn't a problem? 'We found no compelling need to take action.' Those are the words of the US Government Accountability Office (GAO) after looking into audit choice in the US....

Show must go on for PwC.
January 17, 2008... Byline: TS The Oscars parade might not happen, but the show will go on for PricewaterhouseCoopers, auditors of the ballot. The firm, which revels in its annual vote number crunching, looked as if one of its most consistent revenue...

Early filing urged amid self-assessment deadline strike action.
January 17, 2008... Byline: Nicholas Neveling Early filing urged amid self-assessment deadline strike action Nicholas Neveling Tax advisers are being urged to file self-assessment tax returns as early as they can, as HM Revenue & Customs awaits the...

College distances itself from founder.
January 17, 2008... Byline: Kevin Reed College distances itself from founder Kevin Reed The Jeff Wooller College is set to change its name after the adverse publicity received by its founder and namesake over his chancellorship of the Irish...

Dodgy boob job.(accounts' accounting)(Brief article)
January 17, 2008... Byline: TS TS is not unfamiliar with stories of dodgy accountants who make a killing from 'not quite legal' schemes and then use their ill-gained earnings to finance a boat, an exotic holiday anda[bar]well, TS is not at liberty to divulge...

Therei?1/2s nothing like a dame...(PricewaterhouseCoopers pantomime)(Brief article)
January 17, 2008... Byline: TS There's nothing like a dame... It's that time of year when TS gets very, very excited. Forget press parties or slap-up lunches with finance bods. TS is going to the panto! Yes, it's the PricewaterhouseCoopers pantomime,...

CIPFA expels member after lottery black hole found.(Chartered Institute of Public Finance and Accountancy )(Brief article)
January 17, 2008... Byline: David Jetuah CIPFA expels member after lottery black hole found David Jetuah A CIPFA member has been booted out of the institute after a [pounds sterling]30,000 black hole was uncovered in a local lottery fund under his...

FRC manoeuvres to lower legal costs.
January 17, 2008... Byline: Penny Sukhraj FRC manoeuvres to lower legal costs Penny Sukhraj Professionals who are cleared of misconduct at the Accountancy and Actuarial Discipline Board are unlikely to be able to claim substantial costs under plans...

Coda offered buyout by rival Agresso.(Brief article)
January 17, 2008... Byline: Nicholas Neveling Coda offered buyout by rival Agresso TECHNOLOGY Nicholas Neveling Lingering speculation that accounting software group Coda would be of interest to buyers came to fruition this morning, as the...

Dressed to impress.(Brief article)
January 17, 2008... Byline: TS Dressed to impress Here's one to dispel the myth that accountancy is a grey faceless profession that genetically removes the personality of its employees. (TS doesn't think so, by the way.) A little birdie told TS that...

kennedy to probe security checks at hmrc Claims that security guard staff patrolling HM Revenue & Customs offices have not undergone proper security checks will be looked into by financial secretary to the Treasury Jane Kennedy, writes Nicholas Neveling.(financial secretary to the Treasury Jane Kennedy )(Brief article)
January 17, 2008... Byline: Nicholas Neveling kennedy to probe security checks at hmrc Claims that security guard staff patrolling HM Revenue & Customs offices have not undergone proper security checks will be looked into by financial secretary to the...

i?1/2Compellingi?1/2 need to tackle Big Four issue.(Brief article)
January 17, 2008... Byline: Penny Sukhraj 'Compelling' need to tackle Big Four issue Penny Sukhraj There is a compelling need to tackle the dominance of the Big Four audit firms, FRC chief executive Paul Boyle has said, taking issue with a US...

Burri?1/2s temp role indefinite.(Tim Burr)(Brief article)
January 17, 2008... Byline: Alex Hawkes Burr's temp role indefinite Richard Brooks and Alex Hawkes The UK's new temporary auditor general will hold on to the role for an indefinite period, the National Audit Office has said. Nor is there any...

Tax inspectors to be brought to book.
January 17, 2008... Byline: Nicholas Neveling Tax inspectors to be brought to book Nicholas Neveling Tax inspectors could be disciplined if they fail to follow official guidance, under proposals in the consultation on modernising the taxman's powers....

Auditors fear legal attack from all sides in plans to i?1/2simplifyi?1/2 reports.
January 17, 2008... Byline: Penny Sukhraj Auditors fear legal attack from all sides in plans to 'simplify' reports Penny Sukhraj Auditors could be left open to legal action from all sides in the event of a major audit failure, under plans to...

ICAEW wins first public case.(Institute of Chartered Accountants in England and Wales )(Brief article)
January 17, 2008... Byline: Kevin Reed ICAEW wins first public case Kevin Reed The first case to appear before the new ICAEW public disciplinary proceedings resulted in a guilty verdict this week. Ehsan Malik, of Ehsan Malik & Co, was found...

ICAEW member yesterday defends against tribunal.(Institute of Chartered Accountants in England and Wales )(Brief article)
January 17, 2008... Byline: Kevin Reed icaew member defends against allegations The first member of the ICAEW to face a public tribunal has said his signature was faked on audit documents, writes Kevin Reed. Ehsan Malik, of Ehsan Malik & Co, had...

SOCA pledges radical update.(Serious Organised Crime Office )
January 17, 2008... Byline: Nicholas Neveling SOCA pledges radical update technology Nicholas Neveling There is a technological overhaul going on at the Serious Organised Crime Office that the crime-fighting body hopes will radically enhance the...

perils of chasing a quick sell.(Brief article)
January 17, 2008... perils of chasing a quick sell n Driving forward a commercial transaction purely by the need to reduce tax is not always a good idea A- the pitfalls of selling a business in a hurry could, in fact, destroy the benefits of paying the...

always look back.
January 17, 2008... always look back A reflective approach can help your clients plan for 2008 The start of a new year is traditionally the time to look forward and predict what is likely to happen in the next 12 months. However, a successful future can...

How to make email work for you.
January 17, 2008... Byline: Peter Biddle How to make email work for you n RELEVANCE Email should only appear in your inbox if it is directly relevant to you. Relevance shouldn't just be based on the name appearing on the to: or cc: line. n...

case study.(Case study)(Brief article)
January 17, 2008... Byline: Peter Charles case study One company had gone through more finance directors than the England football team has had managers. One was said to be under powered, another demanded too many resources to sort out the apparent and...

electric dreams.
January 24, 2008... Byline: penny sukhraj electric dreams After 25 years in the commercial hub of electronic manufacturing industries, Mike Hannant could strike fear into the hearts of his prospective staff, for his expert hand at trimming an organisation...

Moving forward: break your wage slave chains.
January 24, 2008... Byline: John Lees moving forward: break your wage slave chains Suffering from the New Year job blues? How motivated are you to set your alarm clock for Monday morning? Up to 80% of your personal energy goes into your work...

Ye olde charter revisited.
January 24, 2008... Byline: John Whiting Ye olde charter revisited The Financial Secretary to the Treasury's announcement on 10 January on plans to start developing a taxpayers' charter may have generated a frisson of dA[c]jA vu. Haven't we already got...

People and moves...
January 24, 2008... Byline: rachael singh People and moves... Job to die for: cfo of Artilium Our gong for job of the week goes to Chris Ogle, who takes the hot spot at Artilium, a communications software solutions company, as its chief financial...

At last a level playing field.(International Accounting Standards Board)
January 24, 2008... Byline: IASB At last a level playing field This month has seen the completion of the second phase of the IASB's business combinations project, the first major project to result in a joint standard being published by the IASB and the US...

follow the leader.
January 24, 2008... Byline: anthony holmes follow the leader There is a torrent of media stories about the economic slowdown, but barely a trickle about the characteristics of the people best equipped to lead businesses through a slump. Few companies...

New figures push taxman to drive forward stamp duty online filing.
January 24, 2008... Byline: Nicholas Neveling New figures push taxman to drive forward stamp duty online filing tax Nicholas Neveling Online filing has been the cornerstone of HM Revenue & Customs' attempts to cut costs and deal with taxpayers...

webb takes on tangle.
January 24, 2008... Byline: Nicholas Neveling webb takes on tangle As chief financial officer at a company involved in one of the most controversial listings of recent years, Doug Webb, the outgoing finance director of QinetiQ, knows all about public and...

on the money with Gavin Hinks.(Northern Rcok PLC's Bob Bennett)(Brief article)
January 24, 2008... Byline: Gavin Hinks on the money with Gavin Hinks You're a brave or reckless man if you place yourself at the heart of highly contentious national debate, but former Northern Rock finance director, Bob Bennett,...

fun week.(travel websites)(Brief article)
January 24, 2008... Byline: michelle perry fun week Half-term is almost upon us. Now you'll have to put everything on hold again to whisk your kids away for fun and frolics. Life's tough. But if you don't want it to be too tough, try this site for size....

The prosecution rests . . .
January 24, 2008... Byline: Kevin Reed The prosecution restsa[bar] For a hundred years, members of the Institute of Chartered Accountants of England and Wales have faced disciplinary charges behind closed doors. Tales of botched audits, members 'bringing...

Bourn's bedtime story.(Sir John Bourn's Public Sector Auditing: Is It Value for Money?)(Brief article)(Book review)
January 24, 2008... Byline: TS Bourn's bedtime stories TS has been flicking through Sir John Bourn's new book, Public sector auditing: is it value for money? (TS can't sleep, that's all). We feel duty bound to point out first of all that...

Ousted Payzone FD takes court action.(finance director John Williamson)(Brief article)
January 24, 2008... Byline: David Jetuah Ousted Payzone FD takes court action David Jetuah The finance director of a leading ATM provider has taken the drastic step of going to court in a last-ditch bid to hang on to his job. John Williamson was...