Accountancy

KPMG comes out on top

19 April 2007
Accounting firm KPMG has been honoured with the Auditor of the Year Award in the Big 4 category at the Real FD/CBI Finance Directors' Excellence Awards in London.



HMRC announces tax amnesty

18 April 2007
Those with money hidden away in offshore accounts now have until June 22nd to announce their intentions to declare their assets, Revenue and Customs (HMRC) has announced.

FSA: Small firms ignore advice of compliance consultants

18 April 2007
The Financial Services Authority (FSA) has stated that small firms in the UK often ignore the advice they are given on proper compliance.

Accountancy firm queries audit paper

17 April 2007
Accountancy firm Grant Thornton has expressed a cautious welcome of the Financial Reporting Council's (FRC) latest paper on the promotion of audit quality, but has also raised doubts over the timing and nature of its publication.

Gulf between US and international accounting standards remains

16 April 2007
Companies from overseas that are listed in the US are still facing considerable differences between international and US accounting standards, Ernst & Young has stated.

FSA fines finance director £30,000

13 April 2007
The Financial Services Authority (FSA) has fined a finance director £30,000 for failing to exercise due care in his accounting practices.


Fund managers and analysts do not scrutinise online information

12 April 2007
A huge majority of fund managers and analysts do not check to find out if the information accessed on a company's website has been audited, a new survey has found.


ASB chooses not to amend FRS 20/IFRS 2

11 April 2007
The Accounting Standards Board (ASB) has decided not to amend the FRS 20 (IFRS 2) standard ("Share-based Payment") where it is applied to subsidiary companies who grant options over the equity shares of the parent company.

Independent Irish accountant regulator opens for business

11 April 2007
A new body that will regulate 16,000 accountants in Ireland has begun operating.


CIOT hits out at HMRC's 'Alice in Wonderland' rules

11 April 2007
The Chartered Institute of Taxation (CIOT) has hit out at HMRC for a draft penalties legislation clause.


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