Accountancy Age articles from November 2006

Accountancy Age archives from November 2006

Raising the cereal bar.
November 2, 2006... Byline: nicholas neveling Raising the cereal bar A company tagged as being acquisitive immediately conjures up images of energetic, aggressive businessman with an insatiable lust for buying up rivals and dominating the market. A...

Share the load.
November 2, 2006... Byline: hugh Thompson Share the Load For the past four years as another way of encouraging less company car usage, the government has been offering a 5p tax allowance per passenger per business mile, for carrying fellow employees in a...

Costing the earth?
November 2, 2006... Byline: Hugh Thompson Costing the earth? The three flavours of the month for fleet managers are environment, health and safety and fuel costs. Focussing on these can lead to savings. With tax and national insurance contributions...

Accident waiting to happen.(pension crisis )
November 2, 2006... Byline: Mark Goyder The business of the future: accident waiting to happen 'The cheque's in the post' and 'We're from head office...we're here to help you', were always the two favourite business lies. There's now a third. 'The...

FD of Moss Bross.(Saffery Champness appoints Alasdair McLaren)(Deloitte appoints Nick Prior)(Moss Bros appoints Michael Hitchcock )(Brief article)
November 2, 2006... Byline: rachael singh People and moves... Job to die for: FD of Moss Bros Moss Bros has decided that Michael Hitchcock is the best suited person for the role of FD, which is why he gets our gong for job of the week. Hitchcock...

Effects of the Big Bang.(accounting services )(Brief article)
November 2, 2006... Byline: Anthony Hilton on the money with Anthony Hilton Most of the talk about the Big Bang -- the deregulation of the Stock Exchange 20 years ago -- has missed one fundamental point. In the years...

'Mistake of law' defeat leaves HMRC chastened but unbowed.(Her Majesty's Revenue and Customs)
November 2, 2006... Byline: Nicholas Neveling 'Mistake of law' defeat leaves HMRC chastened but unbowed TAX Nicholas Neveling As Deutsche Morgan Grenfell was savouring its victory in the House of Lords last week, HM Revenue & Customs was...

Administrators face business rate burden.
November 2, 2006... Byline: Kevin Reed Administrators face business rate burden business recovery Kevin reed An impending test case could see council business rate charges paid ahead of administrators' remuneration, in a move that could return...

Family matters.(taxation for personal income)
November 2, 2006... Byline: Alex Hawkes Family matters Meet Jack, Heather, David and Penny. They're just a normal family, with normal worries. Jack's a 16-year-old with a Saturday job. Heather's a mum worried about tax credits. David runs his own...

Effects of the Big Bang.
November 2, 2006... Byline: Gavin Hinks Europe isn't solely to blame It's somewhat rich that the European Commission should be bellyaching about the annual ritual of receiving a qualified audit opinion from the European Court of Auditors. After all,...

An American invasion.
November 2, 2006... Byline: Kathryn Cearns An American invasion Will the Security and Exchange Commission only be satisfied that it has protected US investors when it has questioned every item in financial statements and examined every audit of them? ...

Safe hands or missed opportunity?(Chartered Institute of Management Accountants)(Brief article)
November 2, 2006... Byline: robert bruce Safe hands or missed opportunity? Robert Bruce The arguments over whether the internal candidate should get the top job in any organisation can be lengthy. The insider will have the local knowledge and...

fit for purpose.(Chartered Institute of Management Accountants)
November 2, 2006... Byline: damian wild fit for purpose Ray Perry, director of brand, CIMA It is improving -- particularly from the perspective of fitness for purpose. With the CIMA qualification and the other qualifications available there is a...

Finance function hunts for cheaper location.
November 2, 2006... Byline: David Jetuah Finance function hunts for cheaper location David Jetuah Major corporates are lining up to consider outsourcing finance functions, or opting for shared service centres in other countries. Diageo has in the...

ooh it, aah it, burn it.(bonfire tradition)(Brief article)
November 2, 2006... Byline: michelle perry Ooh it Bonfire night is just three days away, although you might not have realised it as the skies have been filled with noise and light for the past week. If you fancy a real treat, why not try the legendary...

Chantrey Vellacott court threat.
November 2, 2006... Byline: Kevin Reed Chantrey Vellacott court threat Kevin Reed Chantrey Vellacott is facing a court case over claims that its alleged negligence lost telecoms client Convergence Group a $100m ([pounds sterling]52m) contract, a...

Deloitte's video nasty.(Brief article)
November 2, 2006... Byline: TS Deloitte's video nasty Listening to large firms crow about how many graduates they have recruited is a bit like hearing a bunch of teenagers comparing how many drinks they had on the weekend. TS was thrilled, then, when...

AIDB hires new investigator.(Accountancy Investigation and Disciplinary Board appoints David Pickup )(Brief article)
November 2, 2006... Byline: TS TS has noted that the Accountancy Investigation and Disciplinary Board has hired a new investigator. David Pickup has joined TS's favourite lawyer Cameron Scott, to cast his eye over cases of suspicious accounting. It is...

Rbranding in their own image.(Institute of Chartered Accountants in England and Wales)(Brief article)
November 2, 2006... Byline: TS Rebranding in their own image TS has made some extraordinary discoveries about the new ICAEW logo, devised for just [pounds sterling]65,000 by the Dragon Branding Agency. Our mole at the institute tells us that the...

Izza's a marathon man.(Institute of Chartered Accountants in England and Wales's Michael Izza )(Brief article)
November 2, 2006... Byline: TS Izza's a marathon man. This was about the first thing said by the relatively nervous new ICAEW chief executive Michael Izza when meeting TS for the first time. What this had to do with institute consolidation or attracting more...

It still pays to keep a straight bat.
November 2, 2006... Byline: TS It still pays to keep a straight bat Professional sport is a fickle business. One minute you are the big daddy on the block, the next you find yourself talking to a room full of software vendors and trade journalists at a...

everyone's a winner, except the taxman With the charity getting a share windfall, the tax adviser picking up a commission, and the investor a nice little tax rebate, a Gift Aid scheme looks like the perfect 'victimless' tax scheme. Who loses? The taxman.
November 2, 2006... Byline: Accountancy Age everyone's a winner, except the taxman With the charity getting a share windfall, the tax adviser picking up a commission, and the investor a nice little tax rebate, a Gift Aid scheme looks like the perfect...

CIoT shifts focus from members to HMRC.(Chartered Institute of Taxation challenges Her Majesty's Revenue and Customs)(Brief article)
November 2, 2006... Byline: Nicholas Neveling CIoT shifts focus from members to HMRC Nicholas Neveling The Chartered Institute of Taxation has launched a challenge against a Treasury proposal for tax advisers to be regulated by HM Revenue & Customs....

Charity tax schemes 'cost UK [pounds sterling]100m'.
November 2, 2006... Byline: Alex Hawkes Charity tax schemes 'cost UK [pounds sterling]100m' Alex Hawkes Charity tax schemes have cost the exchequer as much as [pounds sterling]100m, senior HM Revenue & Customs sources have told Accountancy Age, as it...

Human Rights Act marshalled to fight tax penalties.
November 2, 2006... Byline: Nicholas Neveling Human Rights Act marshalled to fight tax penalties Nicholas Neveling Tax advisers are planning to use the Human Rights Act to protect their clients from tax penalties. Reports this week indicated that...

Institutes failing students.(accounting students not up to standards )(Brief article)
November 2, 2006... Byline: Alex Hawkes Institutes failing students Alex Hawkes More than three-quarters of finance directors say the institutes are failing to equip students with key skills. In a discussion on the skills gap on Accountancy Age's...

Company records to be exposed.(auditing )
November 2, 2006... Byline: Penny Sukhraj Company records to be exposed Penny Sukhraj Auditors are to be forced to disclose whether a company keeps adequate accounting records, under proposals set to be announced tomorrow. The industry's...

Izza is 'arrogant' say critics.(Institute of Chartered Accountants in England and Wales's Michael Izza )(Brief article)
November 2, 2006... Byline: Nicholas Neveling Izza is 'arrogant' say critics Nicholas Neveling The ICAEW strategy of integration is arrogant, opponents have said, responding to the announcement from the body's new chief last week. Michael Izza...

SEC critics branded 'anti-American'.
November 2, 2006... Byline: Penny Sukhraj SEC critics branded 'anti-American' Penny Sukhraj An SEC figure has labelled criticisms of the body's comment letters as 'anti-American'. Wayne Carnall, a former SEC official and now a US...

Tide of VAT claims continues to swell.
November 2, 2006... Byline: Nicholas Neveling Tide of VAT claims continues to swell Nicholas Neveling The tide of cases for VAT reclaims from HM Revenue & Customs has gathered momentum after the special commissioners ruled that the Marshall Motor...

Cheney considers sarbox lite.
November 2, 2006... Byline: Penny Sukhraj Cheney considers sarbox liTE US vice-president Dick Cheney said this week that the White House would be willing to lighten the Sarbanes-Oxley legislation. This comes after he earlier admitted that the measure --...

What's in store for the new ICAEW leader?(Institute of Chartered Accountants in England and Wales's Michael Izza)(Brief article)
November 2, 2006... Byline: gavin hinks What's in store for the new ICAEW leader? Can Michael Izza make a success of leading the ICAEW as its new chief executive? That's the key issue at the centre of the new Accountancy Age Big Question web cast which...

Wealthy face capital gains crackdown.
November 8, 2006... Byline: David Jetuah Wealthy face capital gains crackdown David Jetuah Wealthy people who generate bogus capital losses to reduce their capital gains tax bills have been hit by a general anti-avoidance rule on the use of the...

film makers get tax breaks but could miss final cut.
November 8, 2006... Byline: David Jetuah Film makers get tax breaks, but could miss final cut UK film companies, such as Working Title Films who made Sixty Six (pictured), could still face problems despite the PBR announcement that the sector will...

bring your meetings to life.
November 9, 2006... Byline: Julia Bindman bring your meetings to life Meetings have the potential to be the most exciting and productive part of the working day: opportunities to feed off and inspire one another, to reach decisions and devise plans that...

time to wake up.
November 9, 2006... Byline: Jeremy Cole, Lovells time to wake up The 'special relationship' between the US and the UK has been somewhat tested of late. The sight of British businessmen being extradited and then manacled on arrival in the US has given many...

taste for success.(Carluccio's Caffes's finance managed by Frank Bandura )
November 9, 2006... Byline: David Jetuah taste for success the restaurant market is a crowded place, but a recipe of shrewd positioning and careful planning has helped Frank Bandura make Carluccio's stand out from the rest, writes David Jetuah ...

Five Oaks ruling is far from clear.(Five Oaks Investments PLC v. United Kingdom. Her Majesty's Revenue and Customs)
November 9, 2006... Byline: Nicholas Neveling Five Oaks ruling is far from clear corporate tax Nicholas Neveling The Five Oaks case on capital losses has significant implications for the way in which companies carrying captital losses are bought...

Vital protection.(extradition laws)
November 9, 2006... Byline: Jeremy Cole extradition from the uk to the us 1. No need to have entered the US A US court can exercise extraterritorial jurisdiction over individuals who have never entered the US. US law enforcement authorities...

Job to die for: FD of toilet hire UK.(Stuart Watson appointed at Ernst & Young L.L.P.)(Alison Seekings appointed at Grant Thornton L.L.P.)(Matt Mussell appointed by Toilet Hire UK)(Brief article)
November 9, 2006... Byline: Rachael Singh People and moves... Job to die for: FD of toilet hire uk Matt Mussell has flushed out the competition in the running for job of the week, for his new role as finance director for Toilet Hire UK. Mussell,...

Time for a split decision on PwC.(PricewaterhouseCoopers L.L.P. merges with Lybrand )(Brief article)
November 9, 2006... Byline: Alex Hawkes time for a split decision on PWC Here's a mischievous thought, for anyone who really wants to push audit choice, not just talk about it: split up PwC. We've been debating the issue of audit competition for...

US reins back Sarbox.
November 9, 2006... Byline: Alex Hawkes US reins back Sarbox audit Alex Hawkes Everywhere you look, the bulwarks of Sarbox are falling. The senators who devised the legislation are working to soften it. Dick Cheney, the US ...

SEC pressure sparks public spat.(Securities and Exchange Commission)
November 9, 2006... Byline: Penny Sukhraj SEC pressure sparks public spat If UK companies needed another reason not to have a US listing, they have got one now. The issue of 'comment letters' from the Securities and Exchange Commission has sparked an...

Extra time goal.
November 9, 2006... Byline: Nicholas Neveling extra-time goal The tantrums and catfights between the builders of the new Wembley Stadium, Multiplex, and the Football Association have been more fiery than a pre-match bust up between Chelsea manager...

emerging trends.(Ian Coleman on emerging markets )
November 9, 2006... Byline: Nicholas Neveling emerging trends Ian Coleman, head of emerging markets at PricewaterhouseCoopers The way that people look at emerging markets has clearly been changing over the last few years. If one is talking in the...

Extradition from the UK to the US.(knowing laws to run your business)(Brief article)
November 9, 2006... Byline: Jeremy Cole vital protection In order to reduce the risk that your business will fall foul of the extra-territorial reach of the US courts, ensure that you take some basic, but vital, steps: l Know the law: always take...

Taxman makes disclosures public after press requests.
November 9, 2006... Byline: Kevin Reed Taxman makes disclosures public after press requests Tax Kevin Reed After two years of operating its tax avoidance disclosure regime, HM Revenue & Customs has begun to make its own disclosures, revealing...

Wave of consolidation surges through business software sector.
November 9, 2006... Byline: Nicholas Neveling Wave of consolidation surges through business software sector Technology Nicholas Neveling The business software market has seen a spate of consolidation in the recent weeks, with MYOB and Iris making...

AIM has work cut out to make IFRS deadline.(alternative investment market, International Financial Reporting Standards)
November 9, 2006... Byline: David Jetuah AIM has work cut out to make IFRS deadline David Jetuah Fewer than one in five companies on AIM are fully prepared for IFRS compliance even though there is less than eight weeks to go before the new regime...

Moving forward: qualifications are academic.(academic achievements always not helpful)
November 9, 2006... Byline: Andrew Garner moving forward: Qualifications are academic It has been my great pleasure to teach career management at business schools around the world for nearly 20 years. After each session, someone always sidles up...

Top seed wanted.
November 9, 2006... Byline: David Jetuah COMPANY REPORTS Top seed wanted Wimbledon organiser the All England Lawn Tennis Club is searching for a new finance director. The role will serve up an opportunity for the new FD to oversee finance at the club...

blog it, read it, rant it.
November 9, 2006... Byline: michelle perry blog it... If you're not feeling inspired to work but can't be seen to be wasting time, check out one of the many great accountancy blogs. One of the best is, of course, our resident news editor Alex Hawkes'...

Speed of the stock exchange.
November 9, 2006... Byline: Anthony hilton on the money with Anthony Hilton Stock exchanges these days behave like Formula 1 racing teams -- dedicated to speed. The London market's systems can execute seven buy or sell orders a...

AAT rebrand this time.(Accountancy Age Awards)(Brief article)
November 9, 2006... Byline: TS Party preparations under way TS is looking forward to a measuring up on Jermyn St this weekend in advance of the event of the year: the Accountancy Age Awards. Lesser city diarists have already hinted at the guest...

Colella injured.(Anton Colella of Institute of Chartered Accountants of Scotland injured)(Brief article)
November 9, 2006... Byline: TS A lame excuse and no mistake Anton Colella, the new chief executive of ICAS, is not a man to allow an injury or physical pain to keep him away from work. Colella has only just started work at ICAS, but already the job...

AIM networking.(Alternative Investment Market )(Brief article)
November 9, 2006... Byline: TS Navigating compliance Never let it be said that accountants don't make an effort to put time aside for big business issues. With that in mind, PKF has arranged a high-profile seminar so AIM companies can make safe...

Getting the all clear.(accounting standards for real estate investment trusts)
November 9, 2006... Byline: Lynette Lackey Getting the all clear It would have been difficult to lose money in recent years by investing in property, given the favourable market conditions and yield compression, but most recognise it will now be hard to...

KPMG in the money.
November 9, 2006... Byline: TS It seems like KPMG is in the money. Not content with being auditors for the Bank of England, controllers of the UK's coffers, the firm has just been appointed auditor to banknote manufacturers De La Rue. De La Rue states...

Ken Frost embarrassment.(his website links to adult toys and erotic things website)
November 9, 2006... Byline: TS TS is reluctant to be labelled as a prude, but Ken Frost, the infamous anti-ICAEW merger campaigner, has left us red-faced with embarrassment this week. Ken lulled us into thinking his website was an innocent bastion of...

for, or not for, the whole world to see Efforts within the Financial Reporting Council to decide whether reports from its Audit Inspection Unit should be made public look as if they could be overhauled by a drive in Parliament to make the reporting proces.(Brief article)
November 9, 2006... Byline: Accountancy Age for, or not for, the whole world to see Efforts within the Financial Reporting Council to decide whether reports from its Audit Inspection Unit should be made public look as if they could be overhauled by a...

New beginning beckons for the profession in Istanbul.
November 9, 2006... Byline: Nicholas Neveling New beginning beckons for the profession in Istanbul Nicholas Neveling As many as 5,000 senior members of the profession are set to descend on Istanbul in optimistic mood to discuss the future of the...

Taxman taken to task over volume of 'silent calls'.
November 9, 2006... Byline: Kevin Reed Taxman taken to task over volume of 'silent calls' Kevin Reed The taxman is still months away from meeting Ofcom guidelines over so-called 'silent calls', ministers have admitted. Paymaster general Dawn...

HMRC reverse saves admin chaos.(Her Majesty's Revenue and Customs)(Brief article)
November 9, 2006... Byline: Nicholas Neveling HMRC reverse saves admin chaos Nicholas Neveling HM Revenue & Customs has relented to intense lobbying from the fund management industry to postpone new rules obliging funds to make payments to certain...

KPMG sets Canary Wharf in motion.(shifts headquarter)(Brief article)
November 9, 2006... Byline: Alex Hawkes KPMG sets Canary Wharf move in motion Alex Hawkes KPMG has pushed the button on plans to shift its headquarters to Canary Wharf, paying [pounds sterling]260m for the leasehold on its new 15-floor building....

Government eases supply chain fears.
November 9, 2006... Byline: Nicholas Neveling Government eases supply chain fears Nicholas Neveling Companies will not have to disclose supply chain information that could lead to attacks from animal rights extremists. The late change to the...

Investors demand more colourful audits.(Brief article)
November 9, 2006... Byline: Penny Sukhraj Investors demand more colourful audits Penny Sukhraj Audit reports should be more colourful, with detailed expressions of the controversies and arguments that lead to an audit's sign-off, rather than bland...

Anger brews as online filing heads for three million mark.
November 9, 2006... Byline: Kevin Reed Anger brews as online filing heads for three million mark Kevin Reed Tax advisers have again been asked to work outside their normal hours as the number of online filings looks set to surge up to three million...

Companies bill drags audit oversight out of the shadows.(Professional Oversight Board on Freedom of Information Act)(Brief article)
November 9, 2006... Byline: Penny Sukhraj Companies bill drags audit oversight out of the shadows Penny Sukhraj Companies could be able to acquire sensitive information on the quality of their auditor after an eleventh-hour amendment to the companies...

Debt industry sets up watchdog as IVAs boom.(Debt Resolution Forum formed for regulating individual voluntary arrangement)(Brief article)
November 9, 2006... Byline: Kevin Reed Debt industry sets up watchdog as IVAs boom Kevin Reed Debt management companies moved to regulate themselves this week, amid increasing concern over the number of people going through so-called 'IVA factories'....

SEC works with FSA on IFRS.
November 9, 2006... Byline: Penny Sukhraj SEC works with FSA on IFRS The US regulator the Securities and Exchange Commission is working with its European counterparts to ensure consistent reviewing of the application of US GAAP and IFRS, writes Penny...

OECD review to cast eye over tax adviser pay.
November 9, 2006... Byline: Alex Hawkes OECD review to cast eye over tax adviser pay Alex Hawkes A high-profile report into the operations of tax advisers is set to look at the way they are remunerated, Accountancy Age understands. HM Revenue &...

Olympic VAT worry.
November 9, 2006... Byline: Nicholas Neveling The costs of the 2012 London Olympics swelled by [pounds sterling]1bn this week when it emerged that the Olympic Development Authority (alastinglegacy.co.uk) may not be given VAT-exempt status. The possible ...

New audit committee for UN set to be implemented.(United Nations to have new committe managed by Sir Andrew Likierman)(investors warns to withdraw their support for the convergence of interntional accounting standards)(United Kingdom. National Health Service to recruit a financial director)
November 9, 2006... Byline: Kevin Reed new audit committe for un set to be implemented Sir Andrew Likierman, one of the key advisers to produce advice that the United Nations needs a new audit committee, is confident that his proposals will be...

Controlling forces.
November 9, 2006... Byline: Penny Sukhraj what's all the fuss about in relation to comment letters? Ernst & Young's global IFRS director, David Lindsell, said: 'They are picking up on a lot of detail. IFRS is far less rules-based than US GAAPa[bar] but...

Was IFRS a waste of time.
November 14, 2006... Byline: David Jetuah was ifrs a waste of time? As the bulk of AIM companies brace themselves for the rigours of IFRS compliance, many will be wondering whether the standards aren't something of a white elephant? The devil...

Treasury functions face tax inspection microscope.
November 14, 2006... Byline: David Jetuah Treasury functions face tax inspection microscope David Jetuah Treasury functions could be hit with huge tax bills as a result of the changes last week to the controlled foreign companies rules. Corporates...

Head above water.(United Utilities PLC)(Interview)
November 14, 2006... Byline: Staff Head above water Q What are the key numbers in these interim results? A It's a strong set of numbers underpinned by robust performance in our regulated businesses in UU North West. Profit before tax on an underlying...

Cadbury to assess Nigerian value after [pounds sterling]25m hit.
November 14, 2006... Byline: David Jetuah Cadbury to assess Nigerian value after [pounds sterling]25m hit David Jetuah Cadbury's review of its Nigerian subsidiary is set to roll on, after the company revealed the scale of the hit it was taking over...

Shared options.
November 15, 2006... Byline: damian wild shared options Cliff Evans, vice president, shared services, Capgemini For the back office, shared services can certainly deliver efficiency and greater quality of data, but you must have the right spend scope...

The rainbow organisation.(workplace diversity)
November 16, 2006... Byline: Nick Montagu The rainbow organisation Look, I've got a bottom line to worry about: I'll look at diversity once I've got that sorted out. Right? Wrong. Diversity is about the bottom line. It's a major business imperative that...

Out of site out of mind.(online presence)
November 16, 2006... Byline: David Reynolds out of site out of mind An online presence can be the single defining factor between a successful, well-known firm and one that disappears into obscurity, writes David Reynolds IAAITC's recent online survey...

Name of the game.(internet presence)(Brief article)
November 16, 2006... Byline: David Reynolds Name of the game Creating an effective internet presence is not difficult. A number of specialist providers create and maintain websites, but these services may not be appropriate for small practices. You...

slice of the action.
November 16, 2006... Byline: Bob Mitchell slice of the action Franchising is a fast-growing industry in the UK and HMRC has been quick to take notice. But as Pizza Express discovered recently, the issue of sale of goodwill is still far from clear cut,...

Avoid nasty surprises.
November 16, 2006... Byline: Bob Harper avoid nasty surprises Bob Harper looks at how general practitioners can use fixed pricing to build a more profitable and sustainable practice, while at the same time helping their clients to become more successful...