Accounting & Business
The view from Deane Morrice: Accounting & Business
The view from: Deane Morrice MBA, FCCA, chief executive and secretary of the Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC)
Q. What are your challenges?
A. Our fund was 89% funded at the last valuation in 2007: the deficit required increased employers’ contributions. The deficit would be higher today with the falls in stock markets and [...]
Accountancy news: Accounting & Business
UK News
FRC appoints new chief exec
Stephen Haddrill is to become the new chief executive of the Financial Reporting Council in November, after Paul Boyle steps down. Haddrill is currently Director General of the Association of British Insurers, a member of the Financial Crisis Advisory Group (FCAG) and was Director General at the Department of [...]
Investing in housing: Accounting & Business
The UK has a housing crisis with several dimensions. Construction companies are going broke. Homeowners cannot sell their properties. Would-be buyers can’t get mortgages. And the waiting list for social housing is increasing rapidly.
The social housing crunch has reached the point where 4.5 million people – 1.8 million households – have applied to social landlords [...]
Accounting news: Accounting & Business
UK
Value of audit doubted
The banking crisis raises doubts about the value of audit, according to a report from the House of Commons Treasury Select Committee. It recommends banning firms from conducting non-audit work for audit clients. The FSA is urged to consult on ways to improve financial reporting, enabling users to better understand banks’ accounts. [...]
The view from - Chris Wyer: Accounting & Business
The view from: Chris Wyer FCCA, finance director, Orwell Housing Association
Q. What challenges do you face at Orwell?
A. A housing association is a unique environment, combining challenges from both the public and commercial sectors. One moment you can be working on a 30 year financial viability plan for our regulators, the Tenant Services Authority, and [...]
PPPs in crisis: Accounting & Business
London’s M25 orbital motorway has a reputation for bad traffic jams. But in recent months it has suffered from a different type of congestion – the seizure of the financial markets blocked plans for its widening.
The £1bn M25 scheme was just one of many essential infrastructure projects in the UK disrupted because banks became unable [...]
Accountancy news: Accounting & Business
UK News
Liechtenstein in UK tax deal
UK and Liechtenstein tax officials have begun talks on implementing a tax transparency agreement. Liechtenstein has asked HMRC to provide names to assist the identification of UK residents with bank accounts and interests in trusts in Liechtenstein that are used to evade UK tax. The two countries agreed that this [...]
Profile: Melvyn Neate: Accounting & Business
The view from Melvyn Neate, FCCA, director of internal audit, HM Revenue and Customs
What are your major challenges at HMRC?
Ensuring it continues to improve individuals’ and businesses’ payment of tax due and their receipt of the credits and benefits to which they are entitled. Remaining committed to improving customers’ experiences: helping those who need it; [...]
An expensive Cinderella: Accounting & Business
Social care is frequently described as the ‘Cinderella’ service – unglamorous, out-of-sight and never given enough love and affection. But this Cinderella certainly isn’t cheap these days. Costs have risen to such a degree that they are the single biggest inflationary factor pushing at the budgetary doors of local authorities.
Something must be done about the [...]
Accountancy news for April: Accounting & Business
Fast facts
£4bn – amount lost annually to UK taxes through tax havens
$100bn – amount lost annually to US taxes through tax havens
26% - the world’s capital held in tax havens
1.2% - the world’s population living in tax havens
G20 catches tax havens
The future of tax havens seems in doubt, with G20 countries forcing the main tax [...]
