Accountancy Age articles from March 2008

Accountancy Age archives from March 2008

Small companies brand IFRS pointless.
March 3, 2008... Byline: David Jetuah Small companies brand IFRS pointless David Jetuah Smaller listed companies have found new reporting standards have failed to help their communication with investors, a survey has found. Baker Tilly's...

Government i?1/2two yearsi?1/2 from qualified FDs.(Brief article)
March 4, 2008... Byline: Kevin Reed Government 'two years' from qualified FDs Kevin Reed The government is still as far as two years off from reaching its target of having a qualified finance director in every department. CIPFA, which has...

Grid Iron.
March 6, 2008... Byline: Melanie Stern Grid Iron In an elegant converted hotel, National Grid FD Steve Lucas enjoys a rather cosy spot on one of London's most expensive stretches of real estate from which to muse about how safe his company is. And...

Safe or sorry.
March 6, 2008... Byline: David Leckie Safe or sorry Companies gearing up for the 6 April implementation of the new Corporate Manslaughter and Corporate Homicide Act 2007 would be wrong to assume that health and safety and HR departments will bear...

Expense claim.(auditing in European Parliament)
March 6, 2008... Byline: Jo Holmes Expense claim It was, in a sense, a story that could shock no-one. Members of the European Parliament are alleged to be abusing their expenses. Tell us something we don't know. But the row could cause bigger...

Testing times.(psychometric testing)
March 6, 2008... Byline: Sean Howard Testing times The use of psychometric candidate profiling and assessment for recruitment, development and talent management is widely endorsed across the accountancy industry. It has become an intrinsic part of...

Keep it in the family.(Parliament. House of Commons)
March 6, 2008... Byline: John Brazier Keep it in the family The new family business tax proposals have been dominating my attention recently, and apparently I'm not the only one. Fed-up with being told by the Professional Contractors' Group (PCG)...

People and moves...(PKF to appoint Lisa Macpherson )(Grant Thornton to promote Liz Brion and Nick Page )(Brief article)
March 6, 2008... Byline: Kevin Reed People and moves... Job to die for: FD, nhs blood and Transplant No doubt that Rob Bradburn took a sanguine approach to winning the role of director of finance at NHS Blood and Transplant. His background is not...

work longer.
March 6, 2008... Byline: Kevin Reed work longer Surprise surprise, the Department for Work and Pensions wants you to work for longer. Businesses are robbing themselves of important skillsets by stopping people from working and making them go on...

ONE OF THE GANG.
March 6, 2008... Byline: Daryll Scott ONE OF THE GANG There's a significant leap between being an accountant and being a partner. Imagine just for a moment that you are a highly-trained, experienced airline pilot and, suddenly, you are asked to...

Better late than never.
March 6, 2008... Byline: Adrian Pulham Better late than never It may come as a surprise to anyone who does not work in the finance function of a government department, that the head of that function was not, until very recently, required to hold a...

Liechtenstein effect here to stay.(Brief article)
March 6, 2008... Byline: Nicholas Neveling Liechtenstein effect here to stay tax Nicholas Neveling Advisers are usually quick to accuse HM Revenue & Customs of heavy-handedness when it uses unorthodox methods to increase tax take. But...

Uncharted territory.(merger between National Audit Office and Audit Commission)
March 6, 2008... Byline: Gavin Hinks David Jetuah Uncharted territory The countdown to a merger between the National Audit Office and the Audit Commission has begun. That's what you might think, after reading the review of NAO corporate governance...

Smooth operators.(John Lees career tips)
March 6, 2008... Byline: John Lees moving forward: smooth operators What do you do if others are getting promoted and you're being sidelined? Firstly, be clear that you really want a promotion (are you really looking for a pay rise,...

How will it be for us, Darling?
March 6, 2008... Byline: Nicholas Neveling How will it be for us, Darling? After a nightmarish winter, where his handling of the Northern Rock crisis, capital gains tax and non-domiciles met with belligerent criticism from business, Alistair...

Access adds a green dimension to software.
March 6, 2008... Byline: Nicholas Neveling Access adds a green dimension to software TECHNOLOGY Nicholas Neveling Calculating a business's carbon footprint can be an expensive exercise involving large consultancy bills and long hours. All...

COMPANY REPORTS.(Andrew Macfarlane to resign from Rentokil)(Paul Rayner to resign from British American Tobacco)(American International Group's loss )
March 6, 2008... Byline: David Jetuah COMPANY REPORTS Rentokil FD in jeopardy Andrew Macfarlane, finance director of the pest control giant, faced angry shareholders this week, some of whom were expected to call for the company's senior management...

herei?1/2s hoping for a stunt-free budget Whatever the chancellor announces in his first Budget next week, the profession will be looking for one thing in particular. It is hoping for a chancellor who stands up and appears to take tax seriously. The impressio.(Brief article)
March 6, 2008... Byline: Alex Hawkes here's hoping for a stunt-free budget Whatever the chancellor announces in his first Budget next week, the profession will be looking for one thing in particular. It is hoping for a chancellor who stands up and...

Battle of the super institutes.
March 6, 2008... Byline: TS Battle of the super institutes While we celebrated Accountancy Age winning the title 'Superbrand' for the second year in a row, TS was more interested in the mudslinging going on among other accounting-related winners....

Fashion faux pas.
March 6, 2008... Byline: TS A fashion faux pas Ah, to be a Hollywood star freshly cleared of tax fraud. What better way to show all the fans out there that you can't keep a good non-resident alien down than by hitting the Oscars red carpet ? Blade...

'David and Goliath' disciplinary battle.(Brief article)
March 6, 2008... Byline: TS Cameron Scott, he of the AADB, is a good friend of Taking Stock's. Many's the time TS has mocked up pictures of him with wigs on, and in other silly poses, just for the fun of it.So when he said last week that taking on the...

Can kieber pass on his tax liability?
March 6, 2008... Byline: TS Can Kieber pass on his tax liability? TS was pondering how Heinrich Kieber, purveyor of stolen Liechtenstein bank account details to the world's revenue authorities, would be taxed on the [pounds sterling]100,000 he received...

Green issues.
March 6, 2008... Byline: TS The institutes like to talk about green issues, but TS has always wondered if they actually walk the walk.So when Chas Roy Chowdhury of ACCA fame came in to appear on Accountancy Age TV recently, we decided to ask ...

i?1/2200,000 fraud claim over firmi?1/2s sale.
March 6, 2008... Byline: Sarah Limbrick and Janice Warman [pounds sterling]200,000 fraud claim over firm's sale Sarah Limbrick and Janice Warman A businessman who bought an accountancy business has launched a legal battle for compensation of...

IT and estates central to taxmani?1/2s cost cuts.(Brief article)
March 6, 2008... Byline: Nicholas Neveling IT and estates central to taxman's cost cuts Nicholas Neveling The taxman has placed cutting property budgets and reliance on online filing at the centre of its programme to slash department costs by...

Emms tackled over tax appeal Simon Emms, the 18 stone Northampton Saints prop forward, has been kicked into touch over his attempt to claim the cost of protein shakes and muscle supplements against his tax bill, writes Nicholas Neveling. Emms took his cas.
March 6, 2008... Byline: Nicholas Neveling Emms tackled over tax appeal Simon Emms, the 18 stone Northampton Saints prop forward, has been kicked into touch over his attempt to claim the cost of protein shakes and muscle supplements against his tax...

Avoiders need not apply, says HMRC.(HM Revenue & Customs )(Brief article)
March 6, 2008... Byline: Alex Hawkes Avoiders need not apply, says HMRC Alex Hawkes The new non-executive chairman of HM Revenue & Customs will not be a figure associated with tax avoidance, the department pledged as it began the recruitment...

Budget Day.
March 6, 2008... Byline: Alex Hawkes Web Sight: BUDGET DAY Alistair Darling delivers his first Budget next week, but he could be forgiven for wanting to stay out of the limelight as issues with Northern Rock and whether it comes on balance...

Darling fudges PFI rules to hide assets.(Private finance initiative)(Brief article)
March 6, 2008... Byline: Penny Sukhraj Darling fudges PFI rules to hide assets Penny Sukhraj The government is set to fudge new rules on private finance initiative accounting, keeping assets off balance sheet to prevent expensive capital...

Hard line on settlements sees tax appeals soar.
March 6, 2008... Byline: Nicholas Neveling Hard line on settlements sees tax appeals soar Nicholas Neveling The number of appeals to tax tribunals rose by more than 50% between 2002 and 2006 as HM Revenue & Customs adopted a tougher approach to...

Credit crunch boost for Navigant.(Brief article)
March 6, 2008... Byline: Alex Hawkes Credit crunch boost for Navigant Janice Warman The credit crunch has sparked a 116% rise in revenues for forensic accounting group Navigant in the last year. The boutique consulting practice, which is...

Watchdog urged to probe off-balance sheet.
March 6, 2008... Byline: David Jetuah Watchdog urged to probe off-balance sheet David Jetuah MPs have made calls for the FSA to probe off-balance sheet 'smokescreens' in the wake of the capital markets turmoil. As the bank reporting season...

Investors question audit committee knowledge.
March 6, 2008... Byline: Penny Sukhraj Investors question audit committee knowledge Penny Sukhraj The risks in off-balance sheet vehicles were misunderstood by audit committees, a huge US shareholder activist group has said. CtW...

Institutes embroiled in i?1/2scum of the earthi?1/2 hierarchy row.(Institute of Chartered Accountants in England and Wales)(Brief article)
March 6, 2008... Byline: Nicholas Neveling Institutes embroiled in 'scum of the earth' hierarchy row Nicholas Neveling The ICAEW wants to create a hierarchy of accountants, with the Consultative Committee of Accountancy Bodies at the top and...

Tricky operation.
March 10, 2008... Byline: Barbara Buchanan Tricky operation Finance directors have a reputation for wanting to achieve. No-one likes to report bad news. FDs of bluechips know analysts will trawl through their trading statements and annual accounts...

Where can we find a new CFO?(George Reyes chief financial officer at Google Inc.)
March 13, 2008... Byline: Jo Christie Where can we find a new cfo? Few things fill finance professionals with more dread than when the question: 'so what do you do then?' is fired at us during social engagements. It's one of those questions people...

Herculean effort.
March 13, 2008... Byline: Sarah Perrin Herculean effort The debate over whether chief executives require their finance directors to be beancounters or business partners is surprisingly persistent. Many FDs would like to be seen in a partnership role A-...

People and moves...(Guy Rigby appointed at Smith and Williamson)(Rick Cudworth appointed at Deloitte & Touche L.L.P.)(Denis McCarthy appointed at Chartered Institute of Management Accountants)(Brief article)
March 13, 2008... Byline: Kevin Reed People and moves... Job to die for: Netplay TV group FD Nichola Halverson's numbers have come up at internet and TV bingo/roulette business Netplay TV. CIMA-qualified Halverson reacquaints herself with chairman...

budge it.
March 14, 2008... Byline: Kevin Reed budge it As if being tied to the desk during Wednesday's Budget was not enough, Tenon will turn you completely square-eyed after launching its own 'movie channel'. The 'unique' online channel is apparently an...

Non-dom departures? So what?(non-domiciled residents)
March 14, 2008... Byline: Willem Buiter Non-dom departures? So what? The chancellor hasn't had much luck since he took command of the good ship Britannia. Some of the bad luck was of his own making and the criticism of his (in)actions has been...

Ghosts of Budgets past.
March 14, 2008... Byline: John Whiting Ghosts of Budgets past What really goes on behind the door of No. 11 Downing Street in the run up to the Budget? Media reports alluded to the chancellor putting the final touches to the speech or package of...

UP IN SMOKE.
March 14, 2008... Byline: Katie Holliday UP IN SMOKE The new British American Tobacco finance director, Ben Stevens, has some big shoes to fill. His predecessor steered the ship at the cigarette giant for six years, a period in which the share price of...

Behind the numbers: search for the perfect job.
March 14, 2008... Byline: Kevin Reed Behind the numbers: The search for the perfect job What's the best job in the world for an accountant? If you have already read the article on page 17 you will know that US magazine Financial Week has...

on the money with Gavin Hinks.(Elizabeth Dole on Sarbanes-Oxley act )(Brief article)
March 14, 2008... Byline: Gavin Hinks on the money with Gavin Hinks There's no accounting for the way people will react in a crisis. Some people have inspired moments of clarity, othersa[bar] well, others don't. Take former US...

Recognising your achievements.(2008 Accountancy Age Awards )
March 14, 2008... Byline: Gavin Hinks Recognising your achievements Accountancy Age this week begins the search for the most talented people in the profession with the launch of the 2008 Accountancy Age Awards. This year's event promises to be...

Profession shaken but not stirred over stock price woes.
March 14, 2008... Byline: Janice Warman Profession shaken but not stirred over stock price woes practice management Janice Warman What are the prospects for accounting service lines and how can they protect the firms as the economy faces a...

body of evidence.
March 14, 2008... Byline: David Jetuah body of evidence For good reason, forensic investigation is a world shrouded in secrecy, an arcane discipline in which watchwords such as confidentiality and discretion are gospel. Nigel Layton, the managing...

A quest investigation: The nuts and bolts.
March 14, 2008... A quest investigation: The nuts and bolts Online fraud is a major concern for businesses, credit card providers and consumers alike. The company has recently been called in by an online retailer, which was hit with tens of thousands of...

Budget treat.(Brief article)
March 14, 2008... Byline: TS This crusty old hack has always had a sweet tooth, so you can imagine the scene at HQ when instead of the usual boring predictions, Grant Thornton sent over a custom-made box of cocoa- based delights to help illustrate its...

is the combined code made to be broken? Audit committee members could find themselves in a much more difficult job in future, if all the proposals for changing their roles get the go ahead. Last week the Financial Reporting Council put out for consultatio.(Brief article)
March 14, 2008... Byline: Accountancy Age is the combined code made to be broken? Audit committee members could find themselves in a much more difficult job in future, if all the proposals for changing their roles get the go ahead. Last week the...

CIoT defends taxpayer rights.( Chartered Institute of Taxation )(Brief article)
March 14, 2008... Byline: Nicholas Neveling CIoT defends taxpayer rights Nicholas Neveling Taxpayers should have the right to minimise their tax bill and hire tax experts under any tax charter drawn up by the HM Revenue & Customs, the Chartered...

Jeremy takes the lunge.(Jeremy Newman )(Brief article)
March 14, 2008... Byline: TS Jeremy takes the lunge Jeremy Newman is famed for being tireless in his efforts to get his message across and it looks like nothing's changed. BDO's head honcho is currently making his annual series of presentations to the...

Mr and Misses.(Copyrights Group Ltd. and Chorion Ltd. )(Brief article)
March 14, 2008... Byline: TS Mr and Misses The good folks at Baker Tilly got TS thinking after the firm said it had finished the due diligence on an acquisition. Copyrights Group Ltd was snapped up by Chorion Ltd and it turns out that Chorion owns well...

ICAEW dinner.(Institute of Chartered Accountants in England and Wales)(Brief article)
March 14, 2008... Byline: TS TS had a whale of a time at the ICAEW president's annual dinner last week. Everyone who was anyone was there: Dave Hartnett, Paul Boyle, even Lord Browne of Madingley, who gave a speech about sustainability, were on the guest...

Knights make bold claims.(Peter Wyman and Gerald Russell of PricewaterhouseCoopers L.L.P.)
March 14, 2008... Byline: TS Knights make bold claims Peter Wyman and Gerald Russell were deep in discussion when TS bumped into them at a dinner and floated the plan to split up PwC into two A- always an entertaining topic of conversation when Wyman...

ramsayi?1/2s accountancy nightmares He may be a stickler for fresh ingredients, but when it comes to filing his accounts on time it seems that celebrity chef Gordon Ramsay is not so fussy, writes Nicholas Neveling. Companies House records show that the ac.
March 14, 2008... Byline: Nicholas Neveling ramsay's accountancy nightmares He may be a stickler for fresh ingredients, but when it comes to filing his accounts on time it seems that celebrity chef Gordon Ramsay is not so fussy, writes Nicholas...

Co-op concern for taxman.(Midlands Co-operative Society)(Brief article)
March 14, 2008... Byline: Nicholas Neveling Co-op concern for taxman Nicholas Neveling The prospect of paying out millions of pounds in unclaimed VAT repayments is looming over HM Revenue & Customs as it awaits a Court of Appeal ruling on a deal...

Stewart in the hunt for starring role at ITV.
March 14, 2008... Byline: David Jetuah Stewart in the hunt for starring role at ITV David Jetuah Experts believe former EMI finance director Martin Stewart is a frontrunner in the search for a new finance director of ITV, following a boardroom...

M&Si?1/2s Dyson in three way race to succeed Rose.(Ian Dyson and Stuart Rose of Marks & Spencer)(Brief article)
March 14, 2008... Byline: David Jetuah M&S's Dyson in three way race to succeed Rose David Jetuah Ian Dyson, the Marks & Spencer FD, was given a golden chance to prove his chief executive credentials this week as the retailer handed him...

Blow to CCAB registration plan.(Consultative Committee of Accountancy Bodies )(Brief article)
March 14, 2008... Byline: Nicholas Neveling Blow to CCAB registration plan Penny Sukhraj Plans to protect the term 'accountant' would increase red tape and may not be cost-effective, Financial Reporting Council chief Paul Boyle has warned. ...

Noakes in audit guidance blast.(Sheila Noakes on Smith Guidance)(Brief article)
March 14, 2008... Byline: Penny Sukhraj Noakes in audit guidance blast Penny Sukhraj Tory Treasury spokeswoman Baroness Sheila Noakes has attacked Financial Reporting Council plans to amend guidance meant to help audit committees look beyond the...

Turnaround growth sees Tenon post profits boost.(Financial report)
March 14, 2008... Byline: Joanne Christie Turnaround growth sees Tenon post profits boost Joanne Christie Acquisition-led growth in its turnaround and corporate recovery division helped Tenon boost pre-tax profits by 44% for the six months to...

national disaster gives late payers get out clause The taxman is to waive the right to interest on taxes paid late i?1/2 if they were held up because of a national disaster. HM Revenue & Customs will also waive surcharges payable on late returns if they too a.
March 14, 2008... Byline: AccountancyAge national disaster gives late payers get out clause The taxman is to waive the right to interest on taxes paid late A- if they were held up because of a national disaster. HM Revenue & Customs will also waive...

Fair family business tax is i?1/2mission impossiblei?1/2.
March 14, 2008... Byline: Kevin Reed Fair family business tax is 'mission impossible' Kevin Reed The government faces an 'impossible task' to create a fair tax regime for family businesses despite delaying the introduction of controversial income...

Charities boosted by Gift Aid move.
March 14, 2008... Byline: Gavin Hinks Charities boosted by Gift Aid move Gavin Hinks In an exception to the general line of criticism for Alistairs Darling's first Budget, experts heaped praise on the chancellor for allowing Gift Aid to be paid for...

Road tax heads environment measures.(Brief article)
March 14, 2008... Byline: Rachael Singh Road tax heads environment measures Rachael Singh The chancellor unleashed a barrage of environmental changes in his first Budget, among them a [pounds sterling]1.2bn drive on road tax, the biggest single...

Avoidance swoop to plug economic gap.(Alistair Darling )(Brief article)
March 14, 2008... Byline: Nicholas Neveling Avoidance swoop to plug economic gap Nicholas Neveling Alistair Darling made a [pounds sterling]1.7bn swoop on tax avoidance schemes in his first Budget as he targeted aggressive planning to shore up the...

Treasury moves to appease non-doms.
March 14, 2008... Byline: David Jetuah Treasury moves to appease non-doms David Jetuah A desperate bid has been made by the government to prevent a non-dom stampede from Britain's shores, as small businesses were denied any further capital gains...

Government backs down on VAT claims.
March 14, 2008... Byline: Joanne Christie Government backs down on VAT claims Joanne Christie The government has climbed down on backdated VAT claims and introduced a transitional period to allow businesses to recoup overpaid indirect tax going...

Taxmani?1/2s new power to raid unannounced is a step i?1/2too fari?1/2.
March 14, 2008... Byline: Penny Sukhraj Taxman's new power to raid unannounced is a step 'too far' Penny Sukhraj The taxman has been given the power to pounce on businesses unannounced, demand records for inspection and make concealment or...

How Pablo stashed the cash.(Pablo Escobar)(Brief article)
March 19, 2008... Byline: TS How Pablo stashed the cash The brother of the infamous Colombian drug baron Pablo Escobar has revealed the ingenious smuggling methods his sibling used to flood America with cocaine, but also the nightmare he had...

Special delivery.(humor and anecdotes)(Brief article)
March 19, 2008... TS was gobsmacked to overhear this tale at a Soho drinking hole this week. A fellow patron was regaling his mates with a story about his accountants. Apparently the firm was downsizing and arranged for the previous ten years of information it...

It can be a funny old world.(humor and anecdotes)(Brief article)
March 19, 2008... Byline: TS It can be a funny old world... TS may very well have shot itself in the proverbial foot by asking for the best examples of accounting anecdotes as an avalanche of jokes, limericks and digs hit the welcome mat at TS Towers....

muck in.(finance director Mark Lumsdon-Taylor of Hadlow College)
March 20, 2008... Byline: Penny Sukhraj muck in Mark Lumsdon-Taylor never thought his job would someday include the oddity of standing in a barn A- in loafers, tailored coat and leather gloves A- having discussions about why cows are not falling...

close call.(failed attempts to takeover Close Brothers)
March 20, 2008... Byline: Joanne Christie close call After a series of failed takeover discussions, Close Brothers' chief executive Colin Keogh has fallen out of favour with some of the firm's biggest shareholders and there are moves afoot to replace...

accident blackspot.
March 20, 2008... Byline: Aaon Brown accident blackspot It is clear from numerous fleet industry surveys that far too many companies have adopted a laissez-faire attitude towards staff by opting for cash as a mechanism of funding a vehicle in place of a...

View from the board: get noticed.
March 20, 2008... Byline: Mark Freebairn view from the board: get noticed Someone should write a book explaining how to network the search community most effectively, maybe it should be me? I meet and speak to a large number of people...

People and moves...(Marchpole Holdings appoints John Macaulay as director of finance, Horwath Clark Whitehill gets Louis Cooper as partner, BDO Stoy Hayward hires Matthew Tait as director)(Brief article)
March 20, 2008... Byline: Rachael Singh People and moves... Job to die for: marchpole holdings fd John Macaulay has strutted through the competition and bagged the role of group finance director of fashion management brand Marchpole Holdings....

ANNUAL SERVICE.(on the taxation, maintenance, safety, operations, finance, and provisions of automotive fleets)
March 20, 2008... Byline: John Maslen ANNUAL SERVICE April will see the introduction of a number of significant changes that affect the way fleets operate, which makes it an ideal time to give your fleet strategy a wax and polish. There are lots of...

home in.(websites on flexible working or doing office work at home)(Brief article)
March 20, 2008... Byline: Kevin Reed home in The top firms talk a good game about flexible working, so put them to the test. Your boss has no excuse to blow out your plan on 15 May, this year's National Work from Home Day. workwiseuk.org home...

Time for bravery, not caution.(British budget)
March 20, 2008... Byline: Jonathon Ford Time for bravery, not caution The global financial storm that started last summer rages on. It's howling as hard as ever in the markets. Yet the tempest had only a walk-on part in Alistair Darling's first...

Sunnier climates expected.(budget reforms)
March 20, 2008... Byline: Anne Redston Sunnier climates expected I spend every Budget Day in the same way. Initially, I'll focus on the headline items, and then comb the footnotes, hunting for the red tape hidden in the nooks and crannies. This...

Carter & Carter felled by acquisition strategy.(Brief article)
March 20, 2008... Byline: David Jetuah Carter & Carter felled by acquisition strategy David Jetuah Carter & Carter's aggressive acquisition strategy has been blamed for its current woes, which have put 2,500 jobs on the line. Deloitte...

Budget letter attempts to lift non-dom blues.
March 20, 2008... Byline: Nicholas Neveling Budget letter attempts to lift non-dom blues Tax Nicholas Neveling Unusually, this year's Budget report and financial statement document was shorter than the supplementary Budget notes by some 60...