Accountancy Age articles from September 2008

Accountancy Age archives from September 2008

Partnership principles.(Waitrose finance director Richard Mayfield)
September 4, 2008... Byline: Michelle Perry Partnership principles When it comes to coveted executive roles Richard Mayfield arguably has one of the most desirable right now. Not only is he finance director of Waitrose, grocer to Britain's middle classes...

golden opportunity.(olympic athletes)
September 4, 2008... Byline: Andy Shaw golden opportunity When unknown 19-year old Rebecca Adlington (above) was interviewed following her record-breaking 800m freestyle swimming victory in Beijing, she said what spurred her on was the promise of some...

avoiding a sleepless night.(advertising rules and standards)
September 4, 2008... Byline: Oliver Bray avoiding a sleepless night 'It's easier to sleep with a Chartered Accountant.' Harmless puffery, and doubtless the ICAEW left nothing to chance and ran this past their lawyers before the launch of the campaign in...

Top of the blogs.
September 4, 2008... Byline: Accountancy Age Top of the blogs Storm clouds hang over UK Back in June on this blog, I asked the question whether we were experiencing a calm before the storm, as the effects of the credit crunch, rising fuel and utility...

Fanning the flame.(2012 London Olympics)
September 4, 2008... Byline: Michelle Perry Fanning the flame Now the smog has resettled on Beijing, British Olympic organisers can once again return their attention to preparing for 2012. On the front line are two FDs with widely varying backgrounds:...

Tullow Oil appoints ex-BP man.
September 4, 2008... Byline: Rachael Singh Tullow Oil appoints ex-BP man Rachael Singh Tullow Oil, the oil exploration company, has recruited veteran oil financier Ian Springett. Springett was a BP lifer, who headed up the finance function at...

on the money with Gavin Hinks.(bribery case against Neils Jorgen Tobiasen)(Brief article)
September 4, 2008... Byline: Gavin Hinks on the money with Gavin Hinks There's very bad news in connection with the law making it an offence to bribe foreign officials. The first successful prosecution has taken place and it turns...

US support for IFRS hinges on democratic reform of standard setter.
September 4, 2008... Byline: Penny Sukhraj US support for IFRS hinges on democratic reform of standard setter Regulation Penny Sukhraj If the SEC's proposals for US plc to switch to IFRS are approved then the largest 20 companies A- determined by...

Large firm of the Year.(Smith and Williamson)(Brief article)
September 4, 2008... Byline: kevin reed Large firm of the Year The global firms may grab many of the headlines, but read between the lines to find a slew of other practices underpinning the UK's productivity. And that is why Accountancy Age presents...

stop work.(bouncebackability of small and medium sized companies)(Brief article)
September 4, 2008... Byline: Kevin Reed stop work 'Bouncebackability' A- a term nabbed from football management speak and now representing anew index, produced by SunGard and the CBI, of how SMEs cope with business disruption. Sungard.com dirty...

Right first time.(on determining cost/benefit for accounting)
September 4, 2008... Byline: David Phillips Right first time A critical ability for almost everyone is to understand and be able to apply the 'cost/benefit' principle. How do we get the most value for the least effort, the optimal solution with limited...

65th place for Team Accountancy.(on ranking in the Beijing Olympics if it were a country)
September 4, 2008... Byline: Judith Tydd 65th place for Team Accountancy We wrote earlier this year about the accounting Olympians who were going for glory in Beijing. So A- how did they do? Sadly, there were no golds. But PricewaterhouseCoopers' Pol...

Swept away on a tide of tax The UKi?1/2s tax system is at a crucial turning point. Companies are exiting the country, saying they fear the governmenti?1/2s new initiatives on foreign profits. Meanwhile, the chancellor is being urged to impose a windfall tax on e.
September 4, 2008... Byline: Alex Hawkes Swept away on a tide of tax The UK's tax system is at a crucial turning point. Companies are exiting the country, saying they fear the government's new initiatives on foreign profits. Meanwhile, the chancellor...

EU states stall on flat rate VAT over borders.
September 4, 2008... Byline: Judith Tydd EU states stall on flat rate VAT over borders Penny Sukhraj Certain member states of the European Union (EU) are preventing progress in the fight against fiscal fraud by not agreeing to a standardised 15% VAT...

US auditors call for urgent action on liability reform.
September 4, 2008... Byline: Penny Sukhraj US auditors call for urgent action on liability reform Liability reform Penny Sukhraj Auditors in the US have issued a stern warning to the US Treasury that sufficient steps are not being taken to avert...

Insolvency code proposed.
September 4, 2008... Byline: Rachael Singh Insolvency code proposed Rachael Singh Insolvency practitioners are to get a new code of ethics. Guidelines are being finalised on matters such as transparency and confidentiality, with the results set to...

Housing plan fails to bolster recovery hopes.
September 4, 2008... Byline: Judith Tydd Housing plan fails to bolster recovery hopes Judith Tydd The government's plans to revive the housing market by issuing a stamp duty holiday will not help first-time buyers in the capital and the south east,...

Stoy era ends as BDO plots global move.
September 4, 2008... Byline: Alex Hawkes Stoy era ends as BDO plots global move Alex Hawkes BDO member firms around the world are set to lose their individual firm names, as the global network gears up to take on the Big Four. The new head of the...

US uptake of IFRS must not mean i?1/2rules invasioni?1/2.(International Financial Reporting Standards)
September 4, 2008... Byline: Penny Sukhraj US uptake of IFRS must not mean 'rules invasion' Penny Sukhraj The US uptake of IFRS must not result in rules-based accounting taking over globally, a senior figure has said. Deloitte accounting partner...

Use of online tax software to remain free.
September 4, 2008... Byline: Judith Tydd Use of online tax software to remain free Judith Tydd The taxman has rejected claims that it will charge self-assessment taxpayers for the use of its tax return filing software. Only users of some...

Deloitte first off the mark with audit report.
September 4, 2008... Byline: Penny Sukhraj Deloitte first off the mark with audit report Penny Sukhraj Deloitte is set to become the first firm to publish an audit 'transparency report' today. The transparency report, now required for audit firms,...

backgrounders Do you want the latest on the news that matters, all in one convenient location? AccountancyAge.comi?1/2s new Backgrounders are the solution. Every day Accountancy Age will update its website with a new Backgrounder, giving you a range of links.
September 4, 2008... Byline: Alex Hawkes backgrounders Do you want the latest on the news that matters, all in one convenient location? AccountancyAge.com's new Backgrounders are the solution. Every day Accountancy Age will update its website with a new...

Firm launches supplier code of conduct KPMG is asking all its main contract suppliers to adopt a code of conduct which establishes 10 core ethical principles covering business conduct, labour conditions and human rights and the environment. The company ha.
September 4, 2008... Byline: Penny Sukhraj Firm launches supplier code of conduct KPMG is asking all its main contract suppliers to adopt a code of conduct which establishes 10 core ethical principles covering business conduct, labour conditions and human...

KPMG tax partner to aid passage to india KPMG has beefed up its expertise on the emerging Indian market, bringing in its most senior secondee ever to advise, Alex Hawkes writes. Many UK retailers are currently looking to get a foothold in India, including.
September 4, 2008... Byline: Alex Hawkes KPMG tax partner to aid passage to india KPMG has beefed up its expertise on the emerging Indian market, bringing in its most senior secondee ever to advise, Alex Hawkes writes. Many UK retailers are currently...

VAT fraud report wins backing from Europe.
September 4, 2008... Byline: Judith Tydd VAT fraud report wins backing from Europe Judith Tydd The European Parliament has backed a report calling for a standardised rate of VAT. The report, released by Sharon Bowles MEP, outlines proposals to...

Engineering excellence.
September 11, 2008... Byline: David Jetuah Engineering excellence As soon as you step across the threshold at Atkins' leafy Epsom offices the illusion of suburban idyll is shattered. Not many companies ask guests to list their citizenship when they sign in...

Moving forward: Go for gold.(on improving performance)
September 11, 2008... Byline: Lynn Williams Moving forward: go for gold Well, that's the Olympics over, and we didn't do too badly. Going for gold demands a level of personal sacrifice way beyond what's required in most workplaces, but there are...

Time to SAY GOODBYE.
September 11, 2008... Byline: Steve Carter Time to SAY GOODBYE There may be many of you out there who think a career move (and therefore a resignation) would be the last thing on an accountant's mind given the state of the market, but despite the...

Its bite is worse than its buzz.(Brief article)
September 11, 2008... Byline: gavin hinks Its bite is worse than its buzz It's never nice when animals attack. TS' own childhood was marred by a particularly nasty run in with a Shetland pony (an event TS is only able to discuss openly after several...

Well read.(web sies)
September 11, 2008... Byline: Kevin Reed well read If you're stuck in a hotel on a boring business trip you might be lucky enough to find a book in your room. Travelodge's 'books left behind' index finds that the works of John Prescott, Cherie Blair and...

The shortlist.
September 11, 2008... Byline: Accountancy Age The shortlist Global Firm of the Year BDO Stoy Hayward; Deloitte; Ernst&Young; Grant Thornton; KPMG; PricewaterhouseCoopers Large Firm of the Year Mazars; RSM Bentley Jennison; Smith Cooper; Smith...

The judges.
September 11, 2008... Byline: Accountancy Age the judges Jan Babiak, global climate change and sustainability service leader, Ernst & Young Tom Blacksell, chief executive, CapGemini UK Sam DiPiazza, chief executive, PricewaterhouseCoopers...

Error sees Hamworthy axe divisional FD.
September 11, 2008... Byline: Nick Huber Error sees Hamworthy axe divisional FD Nick Huber Valuing a 'work in progress' can cause major problems for business. Just ask Hamworthy, the UK oil and gas services company, which last week announced...

UK and US part ways over Enron response.
September 11, 2008... Byline: Penny Sukhraj UK and US part ways over Enron response audit Penny Sukhraj The UK is limiting it's liability for audit firms because of Enron, but the US doesn't want to do the same, arguably for the same reason. ...

Excess baggage.
September 11, 2008... Byline: Judith Tydd excess baggage Taxing market conditions and a downturn in the number of consumers traveling abroad has resulted in the proposed cutting of jobs and restructuring across the board at Aer Lingus. The news comes...

World in motion.
September 11, 2008... Byline: Phillip Fisher World in motion We are regularly told that the world is becoming a global village and almost every day it seems that international conglomerates are buying companies (and football clubs) around the world. ...

People and moves...
September 11, 2008... Byline: Rachael Singh People and moves... Job to die for: Capital and regional Group FD Charles Staveley wins our accolade for job of the week. Staveley takes on the group finance director role at Capital and Regional, the asset...

Blogging for Britain.
September 11, 2008... Byline: martin williams and carol barrie Blogging for Britain Revenue encourages online filing A- but what about security concerns? Information in written answers to Parliamentary questions has shown that security breaches at HM...

Insolvency ethics update.
September 11, 2008... Byline: Rachael Singh Insolvency ethics update insolvency Rachael Singh Ethical guidelines for insolvency practitioners are to be updated in a bid to highlight conflicted interests on transparency and confidentiality. ...

Gunners delay new signing.
September 11, 2008... Byline: Kevin Reed Gunners delay new signing Arsenal Football Club has postponed a search for its first CFO after deciding it will lets its new chief decide whether the role is required, writes Kevin Reed. Accountancy Age...

on the money with Gavin Hinks.(Brief article)
September 11, 2008... Byline: Gavin Hinks on the money with Gavin Hinks We learn this week that BDO Stoy Hayward has the won the job to value Northern Rock. Good luck to the firm, and BDO will certainly need it, because they are...

What time do you call this, Mark?(Brief article)
September 11, 2008... Byline: Taking Stock What time do you call this, Mark? TS never knows what to believe of those 'Day in the Life' type rundowns you get with Sunday Times profile interviews. Oh right, so this person starts work at 5 in the morning,...

Oh no he isn't!(on Kieran Poynter's planned retiorement)
September 11, 2008... Byline: Penny Sukhraj Oh no he isn't! TS is always delighted each festive season when invitations are sent round for the annual PwC pantomime. Previous years have seen amazing performances by some of the partners, who clearly hide...

Doni?1/2t score an own goal Arsenal Football Club, one of the biggest most successful football clubs in the world, has said that appointing a finance director is by no means a forgone conclusion. The club is waiting to appoint a CEO to see if the new man wan.
September 11, 2008... Byline: accountancy age Don't score an own goal Arsenal Football Club, one of the biggest most successful football clubs in the world, has said that appointing a finance director is by no means a forgone conclusion. The club is...

Newman plans to unite BDOi?1/2s i?1/2disparatei?1/2 international practices.
September 11, 2008... Byline: Alex Hawkes Newman plans to unite BDO's 'disparate' international practices Alex Hawkes The challenge for Jeremy Newman is simple: from a disparate group of accountancy practices, create a single firm, branded as one and...

They eat horses don't they?(on the Institute of Chartered Accountants of Scotland conference)
September 11, 2008... Byline: TS TS 'took one for the team' by enduring a stay at the Gleneagles Hotel for the ICAS conference. While forced to eat Michelin-standard cuisine, TS had a chinwag with Taking Stock stalwart Anton Colella about a recent trip to...

Debt reform threatens to clog courts.(on proposals to decrease time to settle debts from six years to three)
September 11, 2008... Byline: Rachael Singh Debt reform threatens to clog courts Rachael Singh Debtors could escape their obligations after just three years, under new plans to reform insolvency rules that have been slated as a 'nightmare' by...

Judge dread.(Brief article)
September 11, 2008... Byline: David Jetuah TS was a fly on the wall during the Accountancy Age Awards judging last week. OK, TS had a glass placed against the wall before getting rumbled by security. The regrettable episode happened before any winners' names...

voice your opinion Want your view on the world of accountancy heard? Accountancy Age provides you with the platform to voice your opinions in our forums. From the latest hot topics to areas such as personal and corporate taxation, or accounting software,.
September 11, 2008... Byline: Paul Grant voice your opinion Want your view on the world of accountancy heard? Accountancy Age provides you with the platform to voice your opinions in our forums. From the latest hot topics to areas such as personal and...

Contractor rules are i?1/2too vaguei?1/2, says Redston.
September 11, 2008... Byline: Judith Tydd Contractor rules are 'too vague', says Redston Judith Tydd Rules on contractors' tax affairs are still too vague, an expert has warned. Following last week's Dragonfly case, which again tested the...

Profit warning proposals spark fears of litigation.(on proposals to give investors the right to sue for false or misleading profit warnings in the UK)
September 11, 2008... Byline: Penny Sukhraj Profit warning proposals spark fears of litigation Penny Sukhraj UK companies could face legal action if they issue profit warnings or other statements which are false and misleading, under new plans being...

Whitehall under fire over unqualified finance staff.
September 11, 2008... Byline: Nick Huber Whitehall under fire over unqualified finance staff Whitehall was slammed this week for its lack of financial expertise, as it emerged that the HM Revenue & Customs' FD and former PwC partner Philip Moore did not...

Assurance results cloud strong report from PwC.(PricewaterhouseCoopers)
September 11, 2008... Byline: Judith Tydd Assurance results cloud strong report from PwC Judith Tydd A slowdown in due diligence work has restricted PwC's revenue surge, the firm has revealed. While reporting a 7% overall revenue growth rate to...

Tweedie predicts global take-up of liability moves.
September 11, 2008... Byline: David Jetuah Tweedie predicts global take-up of liability moves David Jetuah Sir David Tweedie has predicted that the adoption of IFRS by the United States could see liability limitations also go global. The IASB...

Weblinks add meaning to audit reports.(on Auditing Practices Board's (APB) proposal to provide links to its website for full details of audit reports)
September 11, 2008... Byline: Penny Sukhraj Weblinks add meaning to audit reports Penny Sukhraj Boiler-plate wording in auditor reports is to be replaced with a weblink. The Auditing Practices Board is reviewing audit statements in a bid to make...

Wilson joins exclusive club with 3i role.(on Julia Wilson's appointment as finance director)
September 11, 2008... Byline: Nick Huber Wilson joins exclusive club with 3i role Nick Huber Julia Wilson doubled the number of female finance directors at FTSE100 companies this week, after being promoted to the top finance role at private equity firm...

Rock shareholders brand BDOi?1/2s valuer role i?1/2nonsensei?1/2.
September 11, 2008... Byline: David Jetuah Rock shareholders brand BDO's valuer role 'nonsense' David Jetuah BDO Stoy Hayward has taken on a 'poisoned chalice' by agreeing to act as independent valuer of the stricken mortgage lender Northern Rock,...

Backgrounder: PwC Results.
September 11, 2008... Byline: Judith Tydd and Alex Hawkes backgrounder: pwc results PwC announced strong but not stellar revenue growth this week (accountancyage.com/2225624). Reporting the news, some of the nationals showed more interest in the boss's...

BDO approached Robson Rhodes with merger offer.
September 11, 2008... Byline: Alex Hawkes BDO approached Robson Rhodes with merger offer Alex Hawkes BDO Stoy Hayward approached Robson Rhodes with a view to a merger several years before it announced its tie-up with Grant Thornton, the recently...

master your destiny.
September 11, 2008... Byline: Denise Egan master your destiny The media spotlight is fixed firmly on job cuts in the UK financial services industry. A week does not pass without another financial institution announcing job cuts or recruitment freezes. Many...

some security.(Website overview)
September 11, 2008... Byline: Kevin reed some security Eight out of ten employers are looking to retain the same amount of staff until the end of the year, according to recruitment agency Manpower, but more will reduce numbers than increase over that...

It aini?1/2t what you do. . .(effect of economic slowdown to job seekers)
September 18, 2008... It ain't what you do. . . For many years, job candidates in the accountancy sector have been in a strong position. With the advantages of a buoyant economy, a fluid recruitment market and an industry-wide skills shortage, job seekers could...

Play to your strengths.
September 18, 2008... Byline: Judith Germain Play to your strengths UK companies run the risk of slipping behind global competitors if they fail to focus on improving through the talent of their people. Many businesses understand the need to develop and...

The FDs' FD: The burnign desire to cut costs.(finance director)(Essay)
September 18, 2008... Byline: Margaret Ewing THE FDs' FD: THe Burning desire to cut costs There is no escaping reality A- the majority of businesses are feeling the heat from the slowing economy and credit crunch. And the first thing that...

Can you defend the tax haven?
September 18, 2008... Byline: Alex Hawkes Can you defend the tax haven? A US body sent me an email this week saying it was releasing a podcast defending tax havens. Trying to come up with justifications for offering rock bottom tax rates to lure...

Weblink proposals are just the start of overhaul.
September 18, 2008... Byline: Penny Sukhraj Weblink proposals are just the start of overhaul Audit Penny Sukhraj Proposals to replace boiler-plate wording in the auditor's report with a weblink will probably be welcomed by the users of...

Staying power.(accountancy profession)
September 18, 2008... Byline: max williamson Staying power Graduates enter accountancy for many reasons. For some, it is a career that they have moved towards since choosing an accountancy related degree, while for others the move into the...

tipped for the top.(influence of economic crisis on businesses)
September 18, 2008... Byline: David Jetuah tipped for the top Downturn, markets upheaval and credit crunch are popular watchwords at the moment. The M&A market at the top end has dried up, but there are still plenty of deals going around in the...

Small Software Package of the Year.
September 18, 2008... Byline: kevin reed Small Software Package of the Year The ability of small business software to meet the requirements of the lifeblood of the economy A- the small business A- means that this award is hotly contested every year....

PSGC keeping mum on agenda.(Professional Services Global Competitiveness)
September 18, 2008... Byline: Judith Tydd PSGC keeping mum on agenda Practice Judith Tydd With a membership of all the top brass in the profession, the Professional Services Global Competitiveness group looks set to prove a flashpoint for...

Place in the sun.
September 18, 2008... Byline: various Place in the sun Accounting hot, E&Y hottest It's official: accounting is hot. That's according to Business Week's annual careers survey. The Big Four take four of the top five places in the Best Places to...

Roberti?1/2s Mutual benefit from sub prime fall out.(Julian Roberts)
September 18, 2008... Byline: David Jetuah Robert's Mutual benefit from sub prime fall out David Jetuah Julian Roberts has replaced his old boss as CEO of Old Mutual after Jim Sutcliffe fell on his sword, partly because of continuing fallout from the...

Exit strategy.(influence of tax policies on businesses)
September 18, 2008... Byline: damian wild Exit strategy 'Is the UK tax environment becoming unfriendly for UK businesses?' Chas Roy-Chowdhury, head of taxation, Association of Chartered Certified Accountants There are a range of areas where there...

FDs step up to the plate.
September 18, 2008... Byline: Kevin Reed FDs step up to the plate Kevin Reed Finance directors have been charged with taking over from CEOs to steer their companies through the stormy economic waters, according to one of the country's most senior...

UK-only companies look at quitting.(Brief article)
September 18, 2008... Byline: Judith Tydd UK-only companies look at quitting Judith Tydd Some companies with purely UK operations are seeking advice as to whether they should move abroad, tax advisers have revealed. Speaking at an Accountancy Age...

Ex-Chiltern chief aims to claim major tax stake with new firm.
September 18, 2008... Byline: Judith Tydd Ex-Chiltern chief aims to claim major tax stake with new firm Judith Tydd An independent tax firm set up by Chiltern's former boss is aiming to grow to half the size of Ernst & Young's tax business within five...

Simon says blogger that.
September 18, 2008... Byline: Taking Stock Simon says blogger that An update from the blogosphere, where former BDO managing partner Jeremy Newman was a leading light in telling us his thoughts through his website diary. Regular readers will be pleased...

Bending auditors.(Brief article)
September 18, 2008... Byline: Taking Stock The UK's number one firm PwC (at the last count, anyway, Deloitte) is keen on making sure the rest of the world knows how it does what it does. So without giving away any client secrets, a group of reporters ...

Carrying the can.(Heinz)(Brief article)
September 18, 2008... Byline: Andrew Sawers Carrying the can To achieve the sort of growth figures Heinz has achieved, finance wasn't exempt from the turmoil made necessary to throw off the complacency that had set in. About half the finance staff were...

What's your wallet in?
September 18, 2008... Byline: Taking Stock What's your wallet in? How much money would you spend on a suit? TS only asks, because mens' magazine Esquire has unveiled its top 10 most stylish companies and PricewaterhouseCoopers has bagged the top spot....

iti?1/2s hard to be positive Within hours of Lehman Brothers filing for bankruptcy protection on Monday, there were few industries and territories not feeling the consequences. And accountancy i?1/2 so often labelled recession-proof i?1/2 is far from immune. With the.
September 18, 2008... Byline: damian wild it's hard to be positive Within hours of Lehman Brothers filing for bankruptcy protection on Monday, there were few industries and territories not feeling the consequences. And accountancy A- so often labelled...

Taking their place in history.(Rowland Hall)(Brief article)
September 18, 2008... Byline: Taking Stock Taking their place in history How do you celebrate your firm's anniversary? It's a tricky one. Essex firm Rowland Hall decided that, to celebrate its 75th, it would find out how many other businesses have...

Brown strikes.
September 18, 2008... Byline: damian wild You might have missed it A- TS nearly did, though that's not saying much when you have a mind as easily distracted as ours A- but shadow chancellor George Osborne made a startling confession recently. Talking to the FT,...

Paper apologises to Tesco.
September 18, 2008... Byline: Judith Tydd Paper apologises to Tesco Judith Tydd Tesco has accepted a formal apology by Guardian News and Media Limited following the paper's publishing of inaccurate stories relating to the supermarket's tax...