Accounting & Business

Charities find times hard: Accounting & Business

  Donors who give to charities expect their money to be spent properly. Unfortunately this is not always the case, according to the regulator for charities in England and Wales, the Charity Commission.   In fact, says the Commission, poor accounting and financial reporting practices are common across the charitable sector. Fraud, weak management and

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Accounting news, November 2008: Accounting & Business

  Fair value under pressure   The International Accounting Standards Board has yielded to intense pressure from European Union governments and United States regulators to allow some distressed financial instruments to be reclassified, removing them from the requirement to report at fair value. Many banking and insurance executives have blamed the use of fair value

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Protecting accountants from ‘accountants’: Accounting & Business

  Alan Shooter is fed-up. He is an FCCA and his central London firm Shooter Greene & Co is well respected. Yet he worries that clients are increasingly turning their backs on skilled and experienced firms such as his and taking their business to firms that call themselves ‘accountants’ – but are not qualified.  

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Accountancy news: Accounting & Business

  Off-balance sheet and off track   Tougher action against off-balance sheet accounting practices, global regulation of financial markets and permanent restrictions on short selling may all be long-term outcomes of the global financial meltdown.   Leaders of the leading industrial countries appear to have reached a consensus that light touch regulation of the financial

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News despatch: Accounting & Business

  Liechtenstein concedes in tax battle   Liechtenstein has yielded to international pressure, agreeing to share financial information on non-residents who bank in the principality. Prince Alois – the permanent representative of his father, the head of state – said Liechtenstein’s new approach reflected an international mood towards mutual assistance on tax.   “In the

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