CCAB hits the rocks over Gibraltar funding

The political crisis engulfing Gibraltar deepened this week, though the latest twist had little to do with sovereignty.

TS got caught in a conversation between the profession's most senior figures - the presidents of two of the UK's largest institutes - and both members of the Consultative Committee of Accountancy Bodies.

'I've just got back from Gibraltar,' said one. 'I was invited by the local accountancy institute. They told me they were funded by the CCAB.

'Did you know that?' The fellow president looked surprised. 'No,' he said.

You might say you wouldn't expect 'here today, gone tomorrow' officeholders to know where the CCAB empties its coffers. But the chief executive accompanying one of the presidents also sheepishly admitted he too knew nothing of the arrangement.