Accountancy Age articles from May 2009

Accountancy Age archives from May 2009

three is the magic number.(Company overview)
May 7, 2009... Byline: Dr Michael Perry and Rute Pinto three is the magic number Twelve months ago the idea of another Big Four accountancy firm disappearing from the map would have perhaps been far-fetched. The pole-position firms,...

view from the board: FDs have got talent.
May 7, 2009... Byline: mark freebairn view from the board: FDs have got talent I doubt I'll get as many hits on Youtube as Susan Boyle, but I did taste my first moment of 'fame' a week or so ago. Squawkbox on CNBC wanted to talk about...

TEXTING TIMES.
May 7, 2009... Byline: David Jetuah TEXTING TIMES When you step through the doors of Vodafone's Park Lane offices, even the sweets at reception are embossed with the company logo. But for Andy Halford, only the second CFO in...

SAP upgrade poses challenge for FDs.
May 7, 2009... Byline: Nick Huber SAP upgrade poses challenge for FDs Nick Huber Like getting the builders in for a home improvement project, IT upgrades have a habit of springing some unwelcome surprises on companies, including their finance...

AIM FDs pan tax regime as IFRS snags continue.
May 7, 2009... Byline: David Jetuah AIM FDs pan tax regime as IFRS snags continue David Jetuah AIM FDs have panned the lack of tax breaks available on the junior exchange, advantages they say could kick-start much-needed investment in the...

Tax hikes pressure advisers to market avoidance schemes.
May 7, 2009... Byline: Judith Tydd Tax hikes pressure advisers to market avoidance schemes Tax Judith Tydd Alistair Darling may have come down hard on avoidance in his Budget last month but as his policy changes settle in the minds of those...

saving i?1/215bn.
May 7, 2009... Byline: michelle perry saving [pounds sterling]15bn The Treasury's announcement a day before the Budget that it has found the potential for a further [pounds sterling]15bn worth of savings in operational spending has, for the most...

Accounting Technician of the Year.
May 7, 2009... Byline: Accountancy Age Accounting Technician of the Year Most attention in the Accountancy Age awards goes to big organisations and the high-powered individuals that lead them. But it's the people on the sharp end of providing...

hammer time at HMRC Tax advisers should be prepared. They are about to witness the most aggressive phase in the life of HM Revenue & Customs that they have probably ever seen. The Budget made that abundantly clear. Herei?1/2s some things that are ongoing at.
May 7, 2009... Byline: Accountancy Age hammer time at HMRC Tax advisers should be prepared. They are about to witness the most aggressive phase in the life of HM Revenue & Customs that they have probably ever seen. The Budget made that abundantly...

COMPANY REPORTS.
May 7, 2009... Byline: Staff COMPANY REPORTS Informa shifts tax base Professional publisher, Informa, has announced plans to relocate its headquarters from the UK to Switzerland, a move in response to plans to introduce 'double taxation' of...

Investors wary of liability plan.
May 7, 2009... Byline: nick huber Investors wary of liability plan Nick Huber A proposal by leading accounting firms for a new law to limit auditors' liability for company failures will face opposition from leading investors and shareholder...

postcard plea for big four International poverty and relief organisation Christian Aid is set to appeal to the heads of the Big Four firms through a postcard campaign in a plea to help stop tax dodging, writes Judith Tydd The organisation is seeking the a.
May 7, 2009... Byline: Judith Tydd postcard plea for big four International poverty and relief organisation Christian Aid is set to appeal to the heads of the Big Four firms through a postcard campaign in a plea to help stop tax dodging, writes...

Arsenal scouts gunning for executive talent.
May 7, 2009... Byline: Kevin Reed Arsenal scouts gunning for executive talent Kevin Reed Arsenal is unlikely to appoint a CFO in the near future, sources close to the club have told Accountancy Age. The club had initially said it would look...

Vodafone CFO: benefit of a cap is i?1/2not cleari?1/2.
May 7, 2009... Byline: David Jetuah Vodafone CFO: benefit of a cap is 'not clear' David Jetuah Andy Halford, the CFO of mobile phone giant Vodafone, has poured cold water on the idea of a liability cap with auditors Deloitte as the UK's biggest...

Family businesses might avoid higher income tax Family businesses are likely to retain more profits within their business rather than take the funds out and face an income tax hit. Advisers have suggested that to avoid the new 50% income tax rate, family.
May 7, 2009... Byline: Kevin Reed Family businesses might avoid higher income tax Family businesses are likely to retain more profits within their business rather than take the funds out and face an income tax hit. Advisers have suggested that to...

Obamai?1/2s tax plans may tempt Treasury.
May 7, 2009... Byline: Judith Tydd Obama's tax plans may tempt Treasury Judith Tydd The Treasury could use its consultation on taxing controlled foreign companies to follow Barack Obama's example in cracking down on multinational...

Cut now and you might pay later Almost half (45%) of finance departments in businesses affected by the downturn have suffered job cuts in the past year. In the parlous financial and economic circumstances we face, you might say i?1/2thati?1/2s not too bad, all.
May 11, 2009... Byline: Kevin Reed Cut now and you might pay later Almost half (45%) of finance departments in businesses affected by the downturn have suffered job cuts in the past year. In the parlous financial and economic circumstances we...

tread carefully.
May 14, 2009... Byline: Peter Weiss tread carefully Many professionals face concerns about the financial stability of their firm while others feel they aren't being fairly remunerated and want a fresh start elsewhere. In such times, it's inevitable...

Fraud protection has ITs limits.
May 14, 2009... Byline: Rachael Singh Fraud protection has ITs limits TECHNOLOGY Racheal Singh Once Satyam would have been famous for the IT skills it offered customers, many of them western multinationals. But documents recently released by...

on the money with Gavin Hinks.
May 14, 2009... Byline: Gavin Hinks on the money with Gavin Hinks Last week we learned that Guy Whittaker, group FD at Royal Bank of Scotland, is to move on. He must be exhausted after working through the blighted ABN Amro...

Normal partnerships.
May 14, 2009... Byline: Peter Weiss Normal partnerships In these times many members may feel grateful that they are not part of a normal partnership, where the members would have joint and several liability, and feel safer in the LLP where their...

Treasury trims its VAT view.
May 14, 2009... Byline: TS Treasury trims its VAT view The Treasury has avoided being given the hairdryer treatment again by those fiery folks at the National Hairdressers' Federation, TS hears. NHF leaders have previously threatened to...

Messing about in boats.
May 14, 2009... Byline: TS Most of us have had to trim our spending, including expensive hobbies. But not, it seems, Michael Gooch, founder and chief executive of GFI Group, an interdealer broker. Gooch, who trained as an accountant, owns a boat -- a...

ICAEW rebels take a stand in Euro poll.
May 14, 2009... Byline: Kevin Reed ICAEW rebels take a stand in Euro poll Kevin Reed Two former ICAEW rebels are giving accountancy activism a break to set up a political party. Bruce Lawson, former Ukip treasurer and anti-ICAEW merger...

Baker tilly counted out after show jumping Black hole Baker Tilly has resigned as auditor of the British Show Jumping Association after an alleged black hole of i?1/2328,000 was found in its accounts, writes Sarah Limbrick. The governing body of UK showjumpi.
May 14, 2009... Byline: Sarah Limbrick Baker tilly counted out after show jumping Black hole Baker Tilly has resigned as auditor of the British Show Jumping Association after an alleged black hole of [pounds sterling]328,000 was found in its accounts,...

VAT figure is a i?1/2gross underestimatei?1/2.
May 14, 2009... Byline: Judith Tydd VAT figure is a 'gross underestimate' Judith Tydd Experts estimate the cost for UK businesses to reinstate the 2.5% drop in VAT will run to more than [pounds sterling]850m, a figure that dwarfs the...

Finance chief wanted to boost 2012 medal hopes.
May 14, 2009... Byline: Kevin Reed Finance chief wanted to boost 2012 medal hopes A CFO is being sought for the British Olympic Association, which is continuing to fight for funding to boost the chances of athletes, including gymnast Reiss Beckford...

Vodafone FD throws down CFC gauntlet.
May 14, 2009... Byline: David Jetuah Vodafone FD throws down CFC gauntlet David Jetuah Vodafone's finance chief Andy Halford has called on policy makers to clarify their stance on the taxation of controlled foreign companies as a [pounds...

Merger creates fourth largest tax software company.
May 14, 2009... Byline: Rachael Singh Merger creates fourth largest tax software company Rachael Singh UK Taxworld and Informanagement, which both provide information and software on tax, compliance and governance changes to accountancy practice...

Motor dealers set to appeal VAT ruling.
May 14, 2009... Byline: Judith Tydd Motor dealers set to appeal VAT ruling Judith Tydd A group of motor dealers have lost a landmark High Court battle in a campaign to charge compound interest on VAT claims -- but will get to pursue their case...

i?1/2Twilight zonei?1/2 shift woni?1/2t save banks.
May 14, 2009... Byline: David Jetuah 'Twilight zone' shift won't save banks David Jetuah Leading administrators have said proposals to ease insolvency rules for the directors of banks will not prevent another run on a bank in the event of a...

Credit worthy.
May 14, 2009... Byline: Gavin Hinks Credit worthy 'Relatively straightforward.' Who could imagine ever hearing those words to describe the first bank bail out in October of last year. But they come from Richard Meddings, group FD at Standard...

Buyer beware.
May 21, 2009... Byline: Lesley Meall Buyer beware Choosing software and systems for large enterprises has never been easy, but then again it has never been more difficult than it is right now. It's a case of buyer beware. Oracle's recent...

People and moves...
May 21, 2009... Byline: Kevin Reed People and moves... Job to die for: Shanks Group FD Chris Surch becomes group finance director at European sustainable waste management company Shanks Group making him our winner of the job of the week. Surch...

Tax loss policy hits long-term investment.
May 21, 2009... Byline: Judith Tydd Tax loss policy hits long-term investment Judith Tydd Is the UK tax system discouraging companies from making long-term investment? That's what a growing number of tax experts claim. Limits on the amount of...

Cloud computing on the rise despite security concerns.
May 21, 2009... Byline: Rachael Singh Cloud computing on the rise despite security concerns TECHNOLOGY Rachael Singh 'Like online banking, once you're used to it, you want to use as much data storage online as possible,' so says Vipul Shah, a...

Annual Report of the Year: Public Sector.
May 21, 2009... Byline: Staff Annual Report of the Year: Public Sector People say that you work in the public sector for the love not for the money. But the same high standards demanded of UK plcs are equally -- if not more -- expected when it comes...

Vati?1/2s going on?
May 21, 2009... Byline: Gavin Hinks Vat's going on? No one quite believes the government's estimate of how much cutting and then reinstating the VAT rate from 17.5% to 15% and then back. And if they don't it's due in no small part to Derek Allen. ...

on the money with Gavin Hinks.
May 21, 2009... Byline: Gavin Hinks on the money with Gavin Hinks We have never had a postbag like it. The MPs' expenses row got everyone writing in to Accountancy Age. What triggered your ire was the announcement from Hazel Blear,...

AN era of independence The Treasury committee report on the banking crisis means auditors of large systemically important organisations will have to go through a round of fresh self-examination. Auditors of the major banks are likely to end up having a mu.
May 21, 2009... Byline: Accountancy Age AN era of independence The Treasury committee report on the banking crisis means auditors of large systemically important organisations will have to go through a round of fresh self-examination. Auditors of...

HMRC keeps its word and cuts number of SME inspections.
May 21, 2009... Byline: Nick Huber HMRC keeps its word and cuts number of SME inspections Nick Huber The taxman has kept a promise to cut the number of inspections on small and medium-sized businesses as part of an effort to cut the...

Treasury report questions value of bank audits.
May 21, 2009... Byline: Nick Huber Treasury report questions value of bank audits Nick Huber Bankers have had the hair-dryer treatment, private equity bosses have been vilified and regulators have been accused off being asleep at the wheel. All...

Lack of manpower leaves companies at risk of fraud.
May 21, 2009... Byline: David Jetuah Lack of manpower leaves companies at risk of fraud David Jetuah Many internal audit teams do not have the manpower to root out and manage the full range of company risks as the chances of fraud rocket in the...

Mamut looks to organic growth as buy-out falters.
May 21, 2009... Byline: Rachael Singh Mamut looks to organic growth as buy-out falters Rachael Singh The failed buy-out of Mamut, the accountancy software company, has resulted in the business refocusing its efforts on organic growth, according...

Superpowers need firmsi?1/2 help on cross-border investment.
May 21, 2009... Byline: David Jetuah Superpowers need firms' help on cross-border investment David Jetuah A former second-in-command at the US Treasury has said the world's superpowers will have to keep accountants closely involved if...

i?1/2Fraud academyi?1/2 launched PricewaterhouseCoopers has launched a i?1/2fraud academyi?1/2, with the aim of preventing corporate corruption at a time when the chances of fraud rocket due to the economic turmoil. The academy will provide an online forum allowing membe.
May 21, 2009... Byline: Nick Huber 'Fraud academy' launched PricewaterhouseCoopers has launched a 'fraud academy', with the aim of preventing corporate corruption at a time when the chances of fraud rocket due to the economic turmoil. The academy will...

Taxman pursues blanket bank disclosure notice.
May 21, 2009... Byline: Judith Tydd Taxman pursues blanket bank disclosure notice Exclusive Judith Tydd A single 'blanket' notice forcing all banks to disclose details of customers with offshore accounts is being sought by HM Revenue and...

Scrappage scheme avoid car crash.
May 21, 2009... Byline: kevin reed scrappage scheme avoids car crash The wheels almost came off a scheme to cut the cost of buying new more environmentally friendly cars by scrapping older vehicles this week when motor giants Honda and Ford withheld...