Accountancy Age articles from July 2007

Accountancy Age archives from July 2007

Man with a plan.(Ian Dyson, Marks and Spencer PLC)
July 5, 2007... Byline: Kevin Reed Man with a plan Marks & Spencer has come to love 'green', and see it as the future of the business -- and we're not talking about the controversial former bidder for the company Philip Green either. Bar a...

Green is the new black.(environmental conscious business)
July 5, 2007... Byline: michelle perry green is the new black It's long overdue and some organisations are well ahead of others having bitten the bullet years ago before it was fashionable to become environmentally conscious in their business...

Future proof.(emissions trading)
July 5, 2007... Byline: Sir Michael Peat future proof One ton of carbon dioxide is presently trading on European markets at about [pounds sterling]10. A hectare of rainforest stores about 500 tons and therefore has a potential value of [pounds...

PLAN A: THE NUTS AND BOLTS.(Marks and Spencer PLC)(Brief article)
July 5, 2007... Byline: Kevin reed PLAN A: THE NUTS AND BOLTS Bournemouth, Sri Lanka and North Wales all have one thing in common: they are three of the most important areas for Marks & Spencer in its [pounds sterling]200m eco-scheme known as Plan A....

FD of the year: growing business.(Dynshaw Italia, financial director, Cobra Beer)
July 5, 2007... Byline: Accountancy Age FD of the year: growing business Good finance directors are crucial and if there's one place where they are coveted more than anywhere else it is in a growing business. Someone who knows how to exert...

Strategic thinking.(financial directors)(Discussion)
July 5, 2007... Byline: Kevin Reed Strategic thinking CAn finance directors become involved in strategy and fulfil the role of investors champions? Our experts discuss Do recruiters see changes in what is required of FDs? Keith Nash, Director...

Nowhere to hide.(corporate accountability, environmental impacts)
July 5, 2007... Byline: Hannah Griffiths Nowhere to hide Society should be able to hold companies accountable for their social and environmental impacts. For this to happen, it is essential that shareholders, employees, communities and pressure groups...

Glossing over the issue.(climate change)
July 5, 2007... Byline: Rachel Fielding glossing over the issue On a personal level, the nation's obsession with climate change has reached an all-time high. Just last month the government launched an online calculator that allows you to work out your...

Attention please: take the carbon challenge.
July 5, 2007... Byline: Alan Buckle, KPMG Advisory Attention please: take the carbon challenge A recent KPMG/YouGov report confirmed that climate change has the attention of the business world. The question is no longer: 'Is climate change...

Environmental revolution.
July 5, 2007... Byline: gaynor coley Environmental revolution The climate revolution is the biggest change for business since the industrial revolution. The rules have changed. Procurement rules are different, energy and material costs are different,...

break with convention.
July 5, 2007... Byline: allan blewitt break with convention The built environment is a vibrant part of the global economy and one which the accountancy profession can support to become more sustainable, accountable and transparent. Buildings are...

A Princely sum.(eco-friendly Prince Charles)
July 5, 2007... Byline: Penny Sukhraj A Princely sum England's heir to the throne's championing of environmental policies has earned him the casual title of 'The Green Prince'. The Prince of Wales has done much in his personal quest for a...

To be or not be a consultancy that's the definition question.
July 5, 2007... Byline: Kevin Reed To be or not be a consultancy that's the definition question consulting Kevin Reed Friction within the consulting market is increasing, with firms questioning what actually constitutes 'consulting' and how...

On the money with Gavin Hinks.(Brief article)
July 5, 2007... Byline: Gavin Hinks on the money with Gavin Hinks What with all this coverage of the environment, and accountancy's manoeuverings to put itself front and centre of efforts to save the planet, I couldn't help but ask...

Asia works to squeeze working capital.
July 5, 2007... Byline: David Jetuah Asia works to squeeze working capital David Jetuah Finance experts have forecast that globalisation will put a greater working capital pinch on corporates in the near future. 'Increasing volumes of...

Secondary issues sweep AIM board.
July 5, 2007... Byline: David Jetuah Secondary issues sweep AIM board David Jetuah AIM secondary issues have overtaken funds raised by new entrants at the time of admission to trading for the first time since 1999, according to new research by...

AIU Barclays.(Audit Inspection Unit)(Brief article)
July 5, 2007... Byline: TS TS was somewhat surprised to see the Audit Inspection Unit mention in its most recent report the case of a 'partner' in a firm who, after the recommended two-year period, had gone on to become FD of a 'major listed audit...

CIoT has a batphone in no.10.(Chartered Institute of Taxation)(Brief article)
July 5, 2007... Byline: TS CIoT has a batphone in no.10 Let it not be said that the Chartered Institute of Taxation is behind the news. In fact, when it comes to the most senior cabinet appointments, the opposite seems to be true. It was as if the...

Tiers before bedtime.(accounting firms)(Brief article)
July 5, 2007... Byline: TS Tiers before bedtime TS has come across a wonderful new description of the firms challenging the Big Four -- Baker Tilly is calling the wannabes the 'Mid-Four'. TS is quite pleased with the term, and has...

Stars in his eyes.(Ian Dyson)(Brief article)
July 5, 2007... Byline: TS Stars in his eyes Despite M&S group FD Ian Dyson parading the retailers' green credentials in today's Insider profile, TS managed to make him turn a luminescent shade of pink during Accountancy Age's interview. Dyson,...

Court mystery.
July 5, 2007... Byline: TS TS took a trip down to Southwark Crown Court last week to see how the Independent Insurance trial was going. Apart from the court officials, TS was alone in Court No 2, except for a dapper gent in front of TS. When TS broke...

time for accountants to turn investors green Two weeks ago, 56% of listeners to our Insider Business Club webcast voted in agreement that accountants were best placed to monitor carbon emissions -- a result that puts them at the centre of efforts to preser.
July 5, 2007... Byline: Accountancy Age time for accountants to turn investors green Two weeks ago, 56% of listeners to our Insider Business Club webcast voted in agreement that accountants were best placed to monitor carbon emissions -- a result that...

NAO admits errors in its own accounts.(National Audit Office, United Kingdom)
July 5, 2007... Byline: Richard Brooks NAO admits errors in its own accounts Richard Brooks The National Audit Office has admitted to mistakes in its own accounts. Sir John Bourn, the head of the body, is facing questions over the...

Auditor questioned over fashion house.(Hacker Young, Hardy Amies Ltd.)(Brief article)
July 5, 2007... Byline: Kevin Reed Auditor questioned over fashion house Kevin Reed Hacker Young faced tough questions this week over its audit of the Queen's dressmaker Hardy Amies, Accountancy Age can reveal. Hardy Amies was hit by an...

New faces join Darling's team at Treasury.(Alistair Darling)(Brief article)
July 5, 2007... Byline: Alex Hawkes New faces join Darling's team at Treasury Alex Hawkes The government has revamped its Treasury team in the wake of Gordon Brown's accession to prime minister, bringing in Jane Kennedy to run HM Revenue &...

Marks & Spencer now vetting advisers over 'green credentials'.
July 5, 2007... Byline: Kevin Reed Marks & Spencer now vetting advisers over 'green credentials' Kevin Reed Marks & Spencer has vetted its advisers for their green credentials, group finance director Ian Dyson has revealed. In an interview...

Private equity reporting load to increase.
July 5, 2007... Byline: Nicholas Neveling Private equity reporting load to increase Nicholas Neveling Private equity firms will have to produce Business Review-style narrative reports, and the companies they own publish accounts five months...

Bottom line for the planet.
July 5, 2007... Byline: Accountancy Age Bottom line for the planet Accountants are at the heart of efforts to preserve the environment. And yet the results of our reader research shows that the profession appears to suffer from an alarming lack...

segments complaints are 'CSR issues' says ec Environmental and tax campaigners arguing for country-by-country reporting by companies have been dealt a blow by the European Commission, writes Penny Sukhraj. The EC has written to Publish What You Pay, a.
July 5, 2007... Byline: Penny Sukhraj segments complaints are 'CSR issues' says ec Environmental and tax campaigners arguing for country-by-country reporting by companies have been dealt a blow by the European Commission, writes Penny Sukhraj. ...

Green taxes are 'too complex'.(Brief article)
July 5, 2007... Byline: Nicholas Neveling Green taxes are 'too complex' Nicholas Neveling The current package of green tax incentives available to business is too complex to understand and not lucrative enough to warrant the effort, a survey of...

Reporting 'not clear'.(environmental disclosures)(Brief article)
July 5, 2007... Byline: Penny Sukhraj Reporting 'not clear' Penny Sukhraj Environmental disclosures are not always clear or user friendly, Prince Charles' right-hand man has said. Sir Michael Peat, principal private secretary to the...

Readers suffer from information deficit.(Brief article)
July 5, 2007... Byline: David Jetuah Readers suffer from information deficit David Jetuah Accountancy Age readers have revealed they suffer from a shocking lack of information about business and the environment, according to a survey. ...

Sigh of relief as Timms dispels fears over 'reckless auditing'.
July 5, 2007... Byline: Kevin Reed Sigh of relief as Timms dispels fears over 'reckless auditing' audit Kevin Reed The government has pledged not to introduce the offence of reckless auditing with retrospective effect. Fears have been...

what it takes.(Brief article)
July 5, 2007... what it takes In addition to his considerable responsibilities Japheth Katto was one of three commissioners on a judicial Commission of enquiry appointed by the Uganda Government to investigate the closure of banks. The commission made...

HEADLINE IN HERE Imperial Tobacco will have until the end of March next year to sell its popular 'singles' tobacco product in Germany at a lower tax rate. Singles are pre-rolled cartridges of tobacco that can't be smoked when purchased. Singles, sold excl.
July 5, 2007... HEADLINE IN HERE Imperial Tobacco will have until the end of March next year to sell its popular 'singles' tobacco product in Germany at a lower tax rate. Singles are pre-rolled cartridges of tobacco that can't be smoked when purchased....

A global presence.
July 5, 2007... A global presence The Association of Chartered Certified Accountants is the largest and fastest-growing global professional accountancy body with 296,000 students and 115,000 members in 170 countries. We aim to offer the first choice...

ACCA MEMBER ACHIEVEMENT.
July 5, 2007... ACCA MEMBER ACHIEVEMENT There are few more compelling topics of conversation in UK plc at the moment than investment in emerging markets. But there can be no interest unless these markets establish financial integrity. And its...

Light headline here.(Brief article)
July 5, 2007... Light headline here Trailers extremely drunkenly untangles one wart hog. Darin fights the poisons, although two partly silly lampstands ran away, however umpteen extremely speedy orifices auctioned off quixotic televisions. One ticket...

Beyond the capital.(Manchester, accounting services capital)
July 12, 2007... Byline: Liz Loxton beyond the capital If there is a success story to be told about the regions, then the north-west is as good a place as any to start with. Manchester has some 50 accountancy practices and more than 200,000 people...

Manchester calling.(City overview)
July 12, 2007... Byline: Tim Newns Manchester calling Attitudes in the regions are changing. Whereas once the dominance of London was seen as detrimental to the likes of Manchester and Birmingham as it sucked investment opportunities away from other...

Razor sharp.
July 12, 2007... Byline: nick neveling Razor sharp It is 1988. A young man working for a manufacturer of silver cutlery sets is speaking to a friend. They are talking about the shaving razors the man makes for himself. The friend casually suggests...

On board for fairness.(Professional Oversight Board)
July 12, 2007... Byline: richard bennison On board for fairness The Professional Oversight Board's proposals to publish inspection reports on named firms is a sound one, which will give audit committees and investors more of the information they need...

Your last job.(accountants)
July 12, 2007... Byline: mark freebairn view from the board: your last job 'Excuse me,' runs the old joke. 'How do I get to the post office?' 'Well, I wouldn't start from here,' comes the reply. The point, of course, is that you have to...

Should SIR JOHN stay or go?(Sir John Bourn, National Audit Office)(Brief article)
July 12, 2007... Byline: David Jetuah Should SIR JOHN stay or go? Can Sir John Bourn retain his position as the head of the National Audit Office, and the nation's top scrutiniser of government expenditure in light of current events? The...

How to be a...(Chancellor of the Exchequer)(Brief article)
July 12, 2007... Byline: Alex Hawkes how to be a... Chancellor of the Exchequer Brief Yourself For goodness sake, find out what the mandarins are up to, what you can do and what you can't. You don't want to tell the papers you are...

'Dick Turpin' approach condemned.(tax may be directly taken from peoples bank accounts by tax authorities)
July 12, 2007... Byline: Kevin Reed 'Dick Turpin' approach condemned Tax Kevin Reed The taxman could take money directly from bank accounts of people and businesses that fail to pay their tax bills under new proposals that are causing...

Hot topics.(accounting and auditing)
July 12, 2007... Byline: Accountancy Age hot topics How has the FDs' role changed? Carolyn Bresh, global head of finance, Reuters The role of the FD is becoming more strategic. FDs are out there visiting customers, talking to analysts and...

this job's a liability.
July 12, 2007... Byline: Penny Sukhraj this job's a liability Former commercial court judge Sir Anthony Colman is an accomplished legal mind. His experience in the commercial court saw him preside over cases ranging from the extractive industries,...

Investors try to curb corporate bonuses.(Brief article)
July 12, 2007... Byline: David Jetuah Investors try to curb corporate bonuses David Jetuah Top brass bonuses at booming corporates are being increasingly reined in by disgruntled investors. Controversy has been sparked by board members taking huge...

Accountant of the year.
July 12, 2007... Byline: Accountancy Age Accountant of the year It remains the individuals that make the difference in an accounting organisation, whether it be in practice,business or the public sector. It's their initiative, drive and...

Focus on growth.(Interview)
July 12, 2007... Byline: David Jetuah Focus on growth Q The numbers you're announcing are above and beyond your previous guidance. Were you caught off-guard by this strong performance? A Well, firstly, we are pleased with the numbers that we've...

On the money with Gavin Hinks.(Digby Jones' appointment as minister)(Brief article)
July 12, 2007... Byline: Gavin Hinks on the money with Gavin Hinks Sir Digby Jones is an old friend of Accountancy Age. Last year he was a stalwart for the judging process in the Accountancy Age awards. So we were pleased to see...

Enjoying the city boom.(Brief article)
July 12, 2007... Enjoying the city boom The past 12 months have seen an almost unprecedented boom in the City. Bonuses worth [pounds sterling]8bn are expected to be paid out in the Square Mile this year as investment bankers, private equity players, fund...

Taxpayers have a right to know their rights What's wrong with bringing in a taxpayer's bill of rights? Experts have called for something outlining taxpayer's rights and responsibilities for some time but recent events have seen those demands renewed with.(Brief article)
July 12, 2007... Byline: Accountancy Age Taxpayers have a right to know their rights What's wrong with bringing in a taxpayer's bill of rights? Experts have called for something outlining taxpayer's rights and responsibilities for some time but...

Adam Hart-Davies ad banned.
July 12, 2007... Byline: TS TS has seen some scary things in its time, from Keith Chegwin naked to the look on Eric Anstee's face when the merger vote results were revealed. These images apparently pale in comparison to the sight of Adam Hart-Davies, (the...

Let's do the show right here.(Professional Scepticism, play by James Rasheed, former auditor )(Brief article)
July 12, 2007... Byline: TS Let's do the show right here The Producers gave accountants a starring role on Broadway, now it's the turn of auditors to get the theatrical treatment, TS discovers. James Rasheed, a former auditor of a Big Eight...

Who says Sarbox is onerous?(Sarbanes-Oxley Act of 2002)(Brief article)
July 12, 2007... Byline: TS Who says that Sarbox is onerous? Well FTSE 250 search technology business Autonomy is hoping that a lot of people are banging that particular drum. It has snapped up a US business specialising in tools that help deal with...

Defector serves.(Chartered Institute Of Taxation)(Brief article)
July 12, 2007... Byline: TS Defector serves us right The CIoT was most accommodating to TS last week at the House of Commons, serving us plenty to drink in a convivial setting. It wasn't just the CIoT we had to thank, it was also their...

A schoolboy error.(CODA and Infor, competition)(Brief article)
July 12, 2007... Byline: TS A schoolboy error The front pages of your favourite accountancy mag recently reported a little competitive jousting between business software groups CODA and Infor. Well, TS is happy to pick up the story with yet...

Auditors lose on non-audit.
July 12, 2007... Byline: Penny Sukhraj Auditors lose on non-audit Penny Sukhraj Auditors were paid 19% less in non-audit fees by the companies they audit this year, the Auditing Practices Board has revealed. Non-audit fees, expressed as a...

End in site for 'off-plan' confusion.
July 12, 2007... Byline: Penny Sukhraj End in site for 'off-plan' confusion Penny Sukhraj The contradictory reporting of revenue from building projects around the world is set to end after proposals from the accounting standards adjudicator. ...

PwC pays out $225m to settle Tyco case.
July 12, 2007... Byline: David Jetuah PwC pays out $225m to settle Tyco case David Jetuah PricewaterhouseCoopers has agreed to pay $225m ([pounds sterling]120m) to draw a line under its Tyco problems in the US. The settlement was...

GLO revelations would 'harm UK in Europe'.(group litigation orders)
July 12, 2007... Byline: Richard Brooks GLO revelations would 'harm UK in Europe' Richard Brooks and Nicholas Neveling The potential costs of challenges to UK tax rules under European law, through several 'group litigation orders' , were so...

Call for simultaneous reporting.
July 12, 2007... Byline: Gavin Hinks Call for simultaneous reporting Gavin Hinks All audit inspection reports on named firms should be published simultaneously or risk opening some firms up to more attention than others, according to KPMG's head...

35 companies delist from US since april About 35 foreign companies have delisted from the US stock exchange since April, according to regulatory filings, writes Alex Hawkes. Companies including French group Danone, which sells its products under the Danno.
July 12, 2007... Byline: Alex Hawkes 35 companies delist from US since april About 35 foreign companies have delisted from the US stock exchange since April, according to regulatory filings, writes Alex Hawkes. Companies including French group...

Lobbyist pressure for tax charter.(Brief article)
July 12, 2007... Byline: Gavini Hinks Lobbyist pressure for tax charter Gavin Hinks Pressure for the government to draw up a taxpayers' charter will increase this autumn as lobby groups line up fresh research to back their demands. The...

Non-dom rules are 'unjust'.(non-domicile rules, offshore income)
July 12, 2007... Byline: Nicholas Neveling Non-dom rules are 'unjust' Nicholas Neveling The non-domicile rules allowing wealthy individuals with foreign connections to avoid tax on offshore income are unjust and should be dropped, a poll of...

Leeds in limbo as bid result delayed.(Leeds United, soccer club)(Brief article)
July 12, 2007... Byline: Kevin Reed Leeds in limbo as bid result delayed Kevin Reed The fate of Leeds United was unresolved on Tuesday, despite reports that administrators from KPMG would reveal which bidder had won control of the football club at...

Creditors are in 'cloud cuckoo-land', says judge.(Brief article)
July 12, 2007... Byline: David Jetuah Creditors are in 'cloud cuckoo-land', says judge David Jetuah Litigation-funded claimants seeking damages from Moore Stephens were in 'cloud cuckoo-land', the judge in the case said this week, over a claim...

FRC to be quizzed over creeping regulation.(Financial Reporting Council)(Brief article)
July 12, 2007... Byline: Penny Sukhraj FRC to be quizzed over creeping regulation Penny Sukhraj The Financial Reporting Council is set to come under fire at its open AGM next week with claims that it has introduced unnecessary regulation in the...

New Hogg Robinson finance director 'imperative' Analysts at Credit Suisse have called on Hogg Robinson, the troubled corporate travel group, to revamp its executive team if it is to restore management's credibility. The investment bank said it was 'impera.
July 12, 2007... Byline: Kevin Reed New Hogg Robinson finance director 'imperative' Analysts at Credit Suisse have called on Hogg Robinson, the troubled corporate travel group, to revamp its executive team if it is to restore management's credibility....

IVAs and firms.(personal insolvency)(Brief article)
July 12, 2007... Byline: Kevin Reed Web Sight: IVAS and Firms Rising interest rates are bound to put pressure on debtors -- perhaps that's why Tenon felt the urge to spend [pounds sterling]10.4m on the businesses of Unity (usbg.co.uk), which...

Big Four must prepare to lose market share.(accounting firms)(Brief article)
July 12, 2007... Byline: Penny Sukhraj Big Four must prepare to lose market share Penny Sukhraj Big Four firms may have to accept a smaller market share as part of efforts on audit choice, BDO Stoy Hayward has said. In other responses on the...

Charities' bond-washing probe washes out.
July 14, 2007... Byline: Nicholas Neveling Charities' bond-washing probe washes out Nicholas Neveling The high-profile probe into the use of bond-washing by charities has come to a limp conclusion after initial investigations concluded that...

second coming.(Standard Life)
July 19, 2007... Byline: colin wright second coming Standard Life has long been regarded as a sleeping giant of the financial services industry: defiantly mutual, it underperformed several of its rivals in terms of profitability, despite managing...

Getting to know you. . . Again.(advisers and taxman relations)
July 19, 2007... Byline: paul aplin Getting to know you. . . Again The relationship between advisers and the taxman is changing. The days when we knew most of the people we dealt with are long gone. We now have specialist teams spread across the...

Break the habit.
July 19, 2007... Byline: edie obeng Break the habit A company has a problem. Pick one at random: efficiency, human resources, supply chain, pricing, growth strategy (the list goes on and on). Like an egocentric teenager, the organisation thinks it's...

Develop a leader.(in the classroom)
July 19, 2007... Byline: bob hawken in the classroom: develop a leader Are you a leader or a manager? It can be taken to imply that the two are mutually exclusive, but they are not. Leadership and management are reliant upon each other. Both are...

mull it.(Brief article)
July 19, 2007... Byline: michelle perry mull it Have you hit a 'dip' or a 'cul-de-sac'? Don't know the difference between the two? Then get reading the latest offering due out on 2 August from Seth Godin. Whether it's your job or your relationship...

A sense of deja vu.
July 19, 2007... Byline: Alex Hawkes A sense of deja vu Another year, another big audit claim. Moore Stephens is facing a [pounds sterling]90m claim in the High Court from the liquidator of former client Stone & Rolls. The case is, many will have...

GLOs: Much ado about nothing?
July 19, 2007... Byline: Nicholas Neveling GLOs: Much ado about nothing? The group litigation orders -- challenges to the UK tax system made through the European Courts -- were initially painted as taxation's version of the apocalypse. The cases,...

the six main glos.
July 19, 2007... Byline: Nicholas Neveling the six main glos Group Loss Relief: Claimants: Autologic, BNP Paribas, BT, Caterpillar, Heinz, The Future Network. Advanced corporation tax: Claimants: Deutsche Morgan Grenfell, Pirelli, NEC...

Who would be a NED?(non-executive director)(Brief article)
July 19, 2007... Byline: Penny Sukhraj Who would be a NED? One of the more interesting jobs in the City must be that of the non-executive director, and it goes without saying that the higher up FTSE food chain you get, the more extraordinary the...

Non-dom amnesty dodgers face an uphill struggle.(non-domicile )
July 19, 2007... Byline: Nicholas Neveling Non-dom amnesty dodgers face an uphill struggle Tax Nicholas Neveling Advisers have warned those planning to claim non-domiciled status in order to avoid the offshore bank account crackdown that they...