Accountancy Age articles from March 2009

Accountancy Age archives from March 2009

Case study: i?1/2what we want is the right work-life balancei?1/2.
March 5, 2009... Case study: 'what we want is the right work-life balance' Perhaps unsurprisingly, 25-year-old Waleed Chaudary disputes the notion that Generation Y are all a bunch of demanding divas. But the London School of Economics accounting and...

Highly influential: Interviews - the highs and lows.
March 5, 2009... Byline: Jack Downton Highly influential: Interviews -- the highs and lows The interview process is something that can make even the steadiest of nerves tremble like jelly. Yet we all have to endure it: whether a butcher,...

the new kids stir it up.
March 5, 2009... Byline: Nic Paton the new kids stir it up You can blame the dumbing down of the education system for creating a generation of young adults who have never had to struggle for anything in their lives. You can blame 'helicopter parents'...

Foreign affairs.
March 5, 2009... Byline: jack downton Foreign affairs For those in accountancy, giving informative, engaging presentations is often a difficult challenge. Presenting your thoughts, feelings and ideas to audiences can be nerve-racking and stressful,...

risING STOCK.
March 5, 2009... Byline: Melanie Stern risING STOCK We meet in a building with perhaps the cleanest, most freshly vacuumed carpets muddy snow might ever have been ground into. A PR fusses over our yet-to-arrive subject's alleged dislike of photoshoots...

Cash course.
March 5, 2009... Byline: gordon dadds Cash course In these volatile markets, securing prompt payment for your business becomes ever more important. How best can the finance function safeguard cashflow, even when customers refuse to pay on time or...

Whistle blowout.
March 5, 2009... Byline: Gavin Hinks Whistle blowout Paul van Buitenen is Europe's original whistle blower - the man who triggered the resignantion of 20 European commissioners in 1999. Now an MEP, he's tired of it all and believes he's making no...

eat it.
March 5, 2009... Byline: Kevin Reed eat it Tierra Brindisa, Soho, London In need of a hearty nibbles? Then Tierra Brindisa could be the place for you. This relatively new tapas restaurant in the heart of Soho provided the venue for another key...

Four-day weeks could come back to bite firms.
March 5, 2009... Byline: Rachael Singh Four-day weeks could come back to bite firms Rachael Singh Employment lawyers have warned professional service firms they could be caught out when drawing up temporary contracts to reduce working hours. ...

Stanford mission is no Antigua holiday.
March 5, 2009... Byline: David Jetuah Stanford mission is no Antigua holiday business recovery David Jetuah For most people, a posting to Antigua would be a dream job -- but for Nigel Hamilton-Smith and Peter Wastell, the Vantis receivers...

Pre-pack dominance ignores better options.
March 5, 2009... Byline: Christine Elliott Pre-pack dominance ignores better options You are a retail estate landlord. Offered the choice between a cushion of income from problematic stores, no outgoings for six months and a solvent employer with...

Close but no cigar.
March 5, 2009... Byline: Nick Hood Close but no cigar The rejection of the innovative Stylo CVA by creditors is a sad but understandable outcome. The rescue plan was a move towards a more consensual approach to rescuing insolvent businesses,...

Advisers hold the key to success of offshore amnesty.
March 5, 2009... Byline: Judith Tydd Advisers hold the key to success of offshore amnesty tax Judith Tydd Tens of thousands of offshore account holders in up to 500 banks may be targeted by the taxman in the second stage of its campaign to tax...

Rollercoaster ride.
March 5, 2009... Byline: Various Rollercoaster ride The World Economic Forum was in reflective mood at its annual gathering in Davos in January. Our conversations -- industry leaders and policymakers alike -- were about the causes of the current...

Talking their language.
March 5, 2009... Byline: Jack Downton Talking their language German If you find yourself presenting to a German audience, then make sure that you introduce yourself with assurances that you are qualified. A simple 'Hi, I'm Mike and today we'll be...

ONLINE.
March 5, 2009... Byline: Rachael Singh ONLINE This week's top stories on accountancyage.com/sector VAT deadline looms Deloitte is urging companies to take advantage of what is called the Conde Nast VAT claim, which allows them to...

It's the way you tell'em . . .
March 5, 2009... Byline: Judith Tydd It's the way you tell them... Never mind tales of tax haven probes, auditing loopholes and rumours of a recession, TS loves an accountant who can still retain a sense of humour during testing times. Our...

Ivy lunch.
March 5, 2009... Byline: Kevin Reed One of the highlights of Harris Lipman's annual get-together at The Ivy restaurant was a speech given by 'the negotiator' Neville Spiers. He regaled the audience with tales of tricks to get what you want. For example,...

on the money with Gavin Hinks.
March 5, 2009... Byline: Gavin Hinks on the money with Gavin Hinks Harriet Harman's display on the Andrew Marr show, when talking about ex-Royal Bank of Scotland chief Sir Fred Goodwin, was a breathtaking display of incoherent...

Cable warns worse is to come as corporates pay less tax.
March 5, 2009... Byline: Judith Tydd Cable warns worse is to come as corporates pay less tax Judith Tydd The decline in corporate tax paid by the UK's biggest companies could become much worse, according to Liberal Democrat shadow chancellor Vince...

Amnesty may condemn hmrc to hard labour HM Revenue & Customs, Accountancy Age understands, is not far from beginning a national campaign for a new tax amnesty, to allow overseas account holders to come out of the shadows and declare what money they hold o.
March 5, 2009... Byline: Accountancy Age Amnesty may condemn hmrc to hard labour HM Revenue & Customs, Accountancy Age understands, is not far from beginning a national campaign for a new tax amnesty, to allow overseas account holders to come out of...

All change at the top at BDO.
March 5, 2009... Byline: David Jetuah All change at the top at BDO David Jeutah The leadership team at BDO Stoy Hayward is undergoing its second overhaul in eight months, following an announcement by managing partner Simon Michaels. The...

The great PI debate As the debate over the rising cost of professional indemnity insurance heats up, and practitioners insist that there is no evidence that accountancy firms should suffer a rise in premiums, we question broker Richard Brown, a director a.
March 5, 2009... Byline: Accountancy Age The great PI debate As the debate over the rising cost of professional indemnity insurance heats up, and practitioners insist that there is no evidence that accountancy firms should suffer a rise in premiums, we...

Non-starter for ten.
March 5, 2009... Byline: TS Non-starter for ten Now everyone expects the great unwashed- better known as the UK's student population-to be listless wasters more concerned with collecting traffic signals and smoking herbal cigarettes. So it's with...

Wyman's long goodbye.
March 5, 2009... Byline: Gavin Hinks They think it's all overa[bar]but it's not. Peter Wyman has decided to stay. Yes, we thought PwC's public relations guru and lobbyist par excellence, was retiring, going to pastures new to tend a few well chosen board...

Taxman urged to publicise amnesty.
March 5, 2009... Byline: Judith Tydd Taxman urged to publicise amnesty Judith Tydd Tax advisers are urging HM Revenue & Customs to launch an advertising campaign to publicise its second offshore tax amnesty. Last week Accountancy Age reported...

Call to reform pre-packs to save more businesses.
March 5, 2009... Byline: Kevin Reed Call to reform pre-packs to save more businesses Kevin Reed Rules governing pre-pack administrations -- which saw retail group Mosaic broken-up and Whittard's sold -- must be reformed to save more businesses,...

Receivers are keen to trace Stanfordi?1/2s auditor.
March 5, 2009... Byline: David Jetuah Receivers are keen to trace Stanford's auditor David Jetuah Receivers from Vantis are looking to grill CAS Hewlett, the auditor caught up in the $8bn ([pounds sterling]5m) Stanford fraud scandal which has...

Buffett backs fair value.
March 5, 2009... Byline: Gavin Hinks Buffett backs fair value Warren Buffett, one of the world's most successful investors and one of its richest men, has given his backing to mark-to-market accounting, even though it contributed to the worst year for...

IFRS qualification warning.
March 5, 2009... Byline: David Jetuah IFRS qualification warning Major government departments will face having their accounts qualified if they fail to get to grips with IFRS, according to the former head of financial reporting at the Treasury, writes...

Redundancies could spark rise in tax avoidance, experts warn.
March 5, 2009... Byline: Judith Tydd Redundancies could spark rise in tax avoidance, experts warn Judith Tydd The increase in redundancy payouts in the recession is fuelling a surge in the use of personal tax avoidance schemes, according to...

shared burden.
March 5, 2009... Byline: agresso shared burden When Alistair Darling announced in the autumn that he wanted the public sector to make [pounds sterling]35bn of savings by 2011, he unleashed a bit of a monster. How could the public sector meet the...

Backgrounder: CFOs feel the pinch.
March 5, 2009... Byline: Judith Tydd backgrounder: CFOs feel pinch CFO's are feeling the effects of the economic downturn with many seeking to jump ship. German-based car parts supplier Continental is set to lose Alan Hippe in yet another departure...

People and moves...
March 5, 2009... Byline: Kevin Reed People and moves... Job to die for: IASB Standards Advisory council April Mackenzie, head of global policy at Grant Thornton International, takes up a position with the IASB to bag our job of the week....

the art of negotiation.
March 5, 2009... Byline: Pete Besley the art of negotiation They say a week is a long time in politics. Yet for the first time, perhaps in a generation or more, as a result of the current economic crisis the financial world is similarly changing...

Beating back-handers.
March 5, 2009... Byline: Michael Littlechild Beating back-handers At long last, that the UK is getting a new corruption law. The government has decided that since it was last reformed in 1916, it was due for a spot of updating. Businesses,...

Under-fire RBS poaches Bostock from Abbey for restructuring role.
March 5, 2009... Byline: Nick Huber Under-fire RBS poaches Bostock from Abbey for restructuring role Nick Huber Nathan Bostock, the chief financial officer of Abbey National and Alliance & Leicester, faces what is likely to be the biggest...

Delay in prosecutions harms crackdown on offshore evasion.
March 5, 2009... Byline: Nick Huber Delay in prosecutions harms crackdown on offshore evasion Nick Huber The taxman's clampdown on offshore evasion is being undermined by the failure to secure a high-profile criminal prosecution of a British...

Salaries hit as job market grinds to a halt.
March 5, 2009... Byline: Nick Huber Salaries hit as job market grinds to a halt Nick Huber Accountants' salaries are likely to be flat for at least the next year as the economy worsens, recruitment experts believe, although pay prospects for...

US moves to close Madoff audit loophole.
March 5, 2009... Byline: Nick Huber US moves to close Madoff audit loophole Nick Huber A bill has been introduced in the US to expand regulation of small auditors in the wake of the alleged $50bn ([pounds sterling]37bn) fraud by financier...

surgery, not butchery.
March 12, 2009... surgery, not butchery Strategy is the long-term direction of a business. In a recession this can be skewed by short-termism and a negative outlook. The current situation is not helped by the fact that so few managers have experienced a...

Bonus culture: the real cost of bank FDs.
March 12, 2009... Byline: Andrew Sawers Bonus culture: the real cost of bank FDs Chris Lucas, Barclays Joined in April 2007. Previously partner at PwC. Pay in 2007: Salary of [pounds sterling]450,000 with benefits worth [pounds sterling]135,000...

The fuse is lit.
March 12, 2009... Byline: Michelle Perry The fuse is lit The transition to international financial reporting standards is probably not at the top of the list of priorities of most finance teams in local authorities around the UK -- but it should be,...

Follow the money.
March 12, 2009... Byline: Robert Gray Follow the money The UK's professional services sector is pivotal to the wider sector of financial services. Historically, the UK's worldwide renown in accountancy saw the sector enjoy both domestic and...

View from the board: Back to basics.
March 12, 2009... Byline: Mark Freebairn view from the board: Back to basics Ah, how the wheel turns. Has the role of finance director in private equity suddenly lost its lustre? Given the state of the economy and the market right now, it...

SPecial relationship.
March 12, 2009... Byline: Kevin Reed SPecial relationship The top global firms are facing an uncomfortable time fending off various business-threatening litigation claims by arguing, among other things, that their member firms aren't really all that...

People and moves...
March 12, 2009... Byline: Rachael Singh People and moves... Job to die for: mama group fd Christopher Pennie takes the hotseat at media and music company Mama Group as finance director to bag himself the job of the week. Pennie leaves HMV where he...

eat it...
March 12, 2009... Byline: Kevin Reed eat it... Vivat bacchus, farringdon, london Cleverly housed below street level, Vivat Bacchus lends itself to quieter, uninterrupted dining -- the ideal setting for a business lunch. The South African-inspired...

The happy banker.
March 12, 2009... Byline: Gavin Hinks The happy banker It is possible that Richard Meddings, group FD at Standard Chartered Bank, is the happiest finance director in a UK bank at the moment. As the rest of the sector teeters on the brink of disaster,...

Whati?1/2s in a name?
March 12, 2009... Byline: various What's in a name? Have you noticed the way that the taxman refers to you as a 'customer'? It's grated ever since the old Inland Revenue began using this word some years back. After merger with HM Customs & Excise,...

Investigation leaves Cattles FD in limbo.
March 12, 2009... Byline: David Jetuah Investigation leaves Cattles FD in limbo David Jetuah Robert East, the incoming FD of troubled sub-prime doorstep lender Cattles, faces the peculiar situation of controlling the company's finances without...

on the money with Gavin Hinks.
March 12, 2009... Byline: Gavin Hinks on the money with Gavin Hinks Global financial regulation -- that's the answer to the global financial crisis. At least it was, until the papers reported at the weekend that the US financial...

Telling tales.
March 12, 2009... Byline: Judith Tydd HMRC has often been accused of living in fairytale land (by TS at least) but now, it seems, it wants the rest of us to join them there. The taxman recently provided employees with several examples of bedtime...

Networking opportunities.
March 12, 2009... Byline: Kevin Reed Networking opportunities At a Federation of European Accountants conference in December, de Cambourg laid out the five types of networks firms could operate within, and why he believes full integration or loose...

results business.
March 12, 2009... Byline: Kevin Reed results business Such was the ground covered on discussing US litigation and the future of international accounting networks, that talk of Mazars' latest global annual report, which is fully IFRS compliant, was...

Case study: Berkshire.
March 12, 2009... Byline: Anwen robinson Case study: Berkshire There is plenty of theorising around shared services at the moment so seeing a real example of how it can work well is valuable. Berkshire Shared Services (BSS) was an early adopter of the...

The morning after a dream debut.
March 12, 2009... Byline: TS The morning after a dream debut TS knows that we're going through tough times, so it's nice to see accountants keeping their options open. In addition to his day job of trainee accountant with...

Firms lose AIM clients as market falls.
March 12, 2009... Byline: Nick Huber Firms lose AIM clients as market falls Nick Huber The top five auditors in London's Alternative Investment Market saw their combined customer base shrink by more than [pounds sterling]5bn by market cap in the...

Getting down with the kids.
March 12, 2009... Byline: TS Getting down with the kids After discovering a five-year-old using Iris software to process payrolls, TS has unearthed another gem in the 'get 'em while they're young' category. Steve Theaker, a tax partner at Newport...

Revisiting an old audit chestnut Iti?1/2s an age old debate, one which even graced the first issue of Accountancy Age back in 1969: how far down the line can you go in providing non-audit services to audit clients? In that first issue, members of the Managem.
March 12, 2009... Byline: Kevin Reed Revisiting an old audit chestnut It's an age old debate, one which even graced the first issue of Accountancy Age back in 1969: how far down the line can you go in providing non-audit services to audit clients?...

Who needs a chair lift?
March 12, 2009... Byline: Kevin Reed Who needs a chair lift? TS has never been that much of a skier. Too cold. And snowy. And dangerous -- although the aprA[umlaut]s ski sounds like fun. So a meeting with accountancy software bods Iris last week...

If can't say anything nice...
March 12, 2009... Byline: TS The phrase 'if you can't say anything nice don't say anything at all' never held truer than with Sage's recent complaint about KashFlow. The online accountancy software company has a product comparison page on its website and...

Falling company asset values keep FDs from jumping ship.
March 12, 2009... Byline: Iain Martin Falling company asset values keep FDs from jumping ship Iain Martin FTSE-100 FDs have seen their assets held in their own companies slump in value, which has left them more likely to stick around in their...

Scrap the Audit Commission, MP urges government.
March 12, 2009... Byline: parliamentary correspondent Scrap the Audit Commission, MP urges government Parliamentary correspondent The government has been urged to scrap the Audit Commission and bring back old-fashioned audits that can be questioned...

E&Y takes bite out of Apple in auditor change Apple has switched auditors to Ernst & Young from KPMG, which has audited the computer giant for more than a decade, writes Rachael Singh. Apple said there were no disputes with KPMG, which has been its audito.
March 12, 2009... Byline: Rachael Singh E&Y takes bite out of Apple in auditor change Apple has switched auditors to Ernst & Young from KPMG, which has audited the computer giant for more than a decade, writes Rachael Singh. Apple said there were...

BPi?1/2s Grote to stay on as finance chief.
March 12, 2009... Byline: David Jetuah BP's Grote to stay on as finance chief David Jetuah Byron Grote is extending his tenure as BP's finance chief as the oil giant keeps a firm grip on finances, with analysts suggesting there is no stand-out...

Mazars chief: big firms will change.
March 12, 2009... Byline: Kevin Reed Mazars chief: big firms will change Kevin Reed The profession's biggest firms will move away from the network model towards more integrated businesses -- or very loose associations, according to Mazars president...

APB proposes shake-up of audit rules.
March 12, 2009... Byline: Nick Huber APB proposes shake-up of audit rules Nick Huber Some of the UK's biggest institutional investors have backed a proposal by the Auditing Practices Board to allow lead audit partners to stay at large companies for...

Recession tempts more to leave UK.
March 12, 2009... Byline: Judith Tydd Recession tempts more to leave UK Judith Tydd The UK recession is spawning a new wave of medium-sized companies seeking to redomicile their headquarters offshore, with the Treasury potentially losing billions...

Bank bailouts intensify IFRS headache.
March 12, 2009... Byline: David Jetuah Bank bailouts intensify IFRS headache David Jetuah The government's multi-billion pound package of bank guarantees is set to cause the Treasury an IFRS nightmare, while it also copes with other central...

Redundancy risk as last of Big Four bows to economic pressure.
March 12, 2009... Byline: Iain Martin Redundancy risk as last of Big Four bows to economic pressure Iain Martin As many as 120 Ernst & Young UK and Ireland staff face redundancy. The firm is the last of the Big Four to announce staff cuts in...

PwC readies report on Lehman wind-down.
March 12, 2009... Byline: David Jetuah PwC readies report on Lehman wind-down David Jetuah PricewaterhouseCoopers is set to lift the lid on its efforts to claw back assets for creditors of Lehman Brothers European arm, the investment bank which had...

ICAEW to freeze pay across the board The ICAEW has said it will freeze pay across all its employees. In its latest council meeting notes, the institute said that i?1/2with regard to the 2009 budget, its senior management was undertaking a high level full-year.
March 12, 2009... Byline: Nick Huber ICAEW to freeze pay across the board The ICAEW has said it will freeze pay across all its employees. In its latest council meeting notes, the institute said that 'with regard to the 2009 budget, its senior management...

Backgrounder.
March 12, 2009... Byline: Judith Tydd Backgrounder: happy partners Amid a flurry of reports revealing unprecedented redundancies comes news that some firms are appointing partners in growth areas. Mid-tier firm Grant Thornton has appointed two partners...

Auditorsi?1/2 standards go global.
March 12, 2009... Byline: Nick Huber Auditors' standards go global audit Nick Huber Auditors will be able to check their work against 36 global auditing standards, under an ambitious plan announced last week. The US-based International...

Driving the green agenda.
March 19, 2009... Byline: harvey perkins and mark sinclair Driving the green agenda I have a client in Switzerland whose company car fleet is quite large even by UK standards. The most popular car on the fleet is the Porsche Cayenne (the big four wheel...

Back to school.
March 19, 2009... Byline: steve johnson Back to school Money, money, money -- when it comes to vehicles in any commercial environment you all know that they have a voracious appetite. But with a few thought-through management procedures in place you...

Consult shareholders more, boards urged.
March 19, 2009... Byline: Nick Huber Consult shareholders more, boards urged Nick Huber The economic crisis has underscored the need for company boards to consult shareholders more closely on a wider range of issues, a corporate governance expert...

emission possible.
March 19, 2009... Byline: Harvey Perkins emission possible Under new rules for tax rates for low emitters, and capital allowances, the employee sacrifices gross pay and receives instead a company car from the 120 g/km or below group. Overall savings are...

People and moves...
March 19, 2009... Byline: Rachael Singh People and moves... Job to die for: Craegmoor Healthcare CFO David Manson is promoted to CFO at Craegmoor Healthcare, the mental health support providers. He is promoted to the board position making him our...

Moving forward: stresses and strains.
March 19, 2009... Byline: Lynn Williams Moving forward: STresses and strains Everyone gets stressed at some time or another. Don't let it take over your life though -- tackle it promptly with this ten-point plan. 1. Take time to relax ...

Conflicts will put firms out of the running for B&B valuation.
March 19, 2009... Byline: David Jetuah Conflicts will put firms out of the running for B&B valuation Business recovery David Jetuah Firms will be hoping conflicts of interest will not rule them out of pitching for the job of valuing the remains...

Hot and cold.
March 19, 2009... Byline: Jon Shine Hot and cold First of all, the bad news -- If you are only now thinking about how to grow your business in these difficult times, you are probably too late! Spending your time planning for survival would be more...

Iti?1/2s just not cricket.
March 19, 2009... Byline: Gavin Hinks It's just not cricket It should come as no surprise that in the case of Allen Stanford's allegedly fraudulent investment scheme, the investigation has also focused on his chief financial officer James Davis at...