The most recent articles from Accountancy Age

First batch of IFRS graduates only ready in 2011

Penny Sukhraj — 2008-09-05T11:10:00.000Z

Penny Sukhraj, Accountancy Age, Friday 5 September 2008 at 11:10:00

The estimate was given by 30% of 535 professors surveyed by the American Accounting Association and KPMG

The first class of IFRS students will only graduate in 2011 – in the same year that the SEC will consider whether to move forward with the adoption of international...

Former Refco chief jailed for 16 years

Kevin Reed — 2008-09-05T10:55:00.000Z

Kevin Reed, Accountancy Age, Friday 5 September 2008 at 10:55:00

Bennett begins 16 year sentence

The former British chief executive of Refco has started a 16-year jail sentence. Phillip Bennett pleaded guilty to charges relating to hiding the commodity broker problematic finances, reports the Times....

Watchdog needs accountability before American IFRS

David Jetuah in Gleneagles — 2008-09-05T10:25:00.000Z

David Jetuah in Gleneagles, Accountancy Age, Friday 5 September 2008 at 10:25:00

SEC chief accountant Conrad Hewitt unveils IFRS milestones at ICAS conference

IFRS in the US hinges on IASB trustees putting themselves under the scrutiny of the monitoring body by 2011, SEC chief accountant Conrad Hewitt has warned....

SNP’s LIT plans under fire at Holyrood

AccountancyAge.com — 2008-09-05T09:10:00.000Z

AccountancyAge.com, Accountancy Age, Friday 5 September 2008 at 09:10:00

The Scottish Government’s plans to replace council tax with a local income tax is under fire at Holyrood

Labour and the Tories used the first question time of the new parliamentary session at Holirood following the introduction of the Scottish Government’s plan to replace council tax with a...

Housing plan fails to bolster recovery hopes

Judith Tydd — 2008-09-04T23:53:00.000Z

Judith Tydd, Accountancy Age, Thursday 4 September 2008 at 23:53:00

Chancellor announces suspension on stamp duty for sales of property worth up to £175,000

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, advisers said as they...

US uptake of IFRS must not mean 'rules invasion'

Penny Sukhraj — 2008-09-04T15:10:00.000Z

Penny Sukhraj, Accountancy Age, Thursday 4 September 2008 at 15:10:00

Adoption of IFRS in the US poses the danger of allowing US rules to creep in, say Deloitte partner

The US uptake of IFRS must not result in rules-based accounting taking over globally, a senior figure has said. Deloitte accounting partner Ken Wild warned that adoption of IFRS in...

JDS costs soar after Equitable case

Penny Sukhraj — 2008-09-04T10:01:00.000Z

Penny Sukhraj, Accountancy Age, Thursday 4 September 2008 at 10:01:00

Tribunal costs for 2007 included £838,000 for tribunal members' fees and expenses, £200,000 for hearing room hire and £131,000 for transcribers' costs

The outgoing accountancy disciplinary body increased its budget by £815,000 due to holding a tribunal into the role of Ernst & Young in the near-collapse of life assurance company Equitable...

Salmond defies Westminster with local tax plan

AccountancyAge.com — 2008-09-04T08:41:00.000Z

AccountancyAge.com, Accountancy Age, Thursday 4 September 2008 at 08:41:00

Salmond goes ahead with scrapping of council tax in Scotland for 3p-in-the-poung local income tax

Alex Salmond yesterday defied Westminster with plans to replace the council tax in Scotland within three years with a 3p-in-the-pound local income tax, hailing it as ‘the biggest tax cut...

US support for IFRS hinges on reform of standard setter

Penny Sukhraj — 2008-09-04T08:37:00.000Z

Penny Sukhraj, Accountancy Age, Thursday 4 September 2008 at 08:37:00

Sir David Tweedie welcomes ‘another important vote of confidence’ for IFRS

If the SEC’s proposals for US plc to switch to IFRS are approved then the largest 20 companies determined by their size on an international scale within their respective...

Backgrounder: stamp duty holiday

Gavin Hinks — 2008-09-02T09:02:00.000Z

Gavin Hinks, Accountancy Age, Tuesday 2 September 2008 at 09:02:00

The government is set announce its plans for kickstarting the housing market

Backgrounder: stamp duty holiday Will they or won’t they? That’s the question on every home buyer’s mind this morning as they ponder whether the government will finally put their money...

Darling’s future in balance over recession talk

AccountancyAge.com — 2008-09-01T08:32:00.000Z

AccountancyAge.com, Accountancy Age, Monday 1 September 2008 at 08:32:00

Darling’s future may hang in the balance over comments of UK’s ‘arguably worst economic downturn in 60 years’

Alistair Darling’s future is said to hang in the balance after a controversial interview with the Guardian, saying Britain was facing ‘arguably the worst’ economic downturn in 60 years which...

Top firms get tough on accounting for losses

AccountancyAge.com — 2008-08-29T07:57:00.000Z

AccountancyAge.com, Accountancy Age, Friday 29 August 2008 at 07:57:00

Banks blame accounting firms for confusing investors with their aggressive use of latest accounting rules

The latest changes to US accounting regulations, pushing for consistency in corporate reporting, have resulted in some accounting firms interpreting the rules more aggressively than others, which banks say risks...

ACCA sustainability awards shortlist announced

Rachael Singh — 2008-08-28T14:20:00.000Z

Rachael Singh, Accountancy Age, Thursday 28 August 2008 at 14:20:00

Thames Water and Body Shop don't make the cut but mining, gas and tobacco companies take the floor

BP, BHP Billiton and Shell have all made the shortlist of winners for Association of Chartered Certified Accountants annual UK Sustainability Reporting Awards....

US could switch to IFRS in six years

Penny Sukhraj — 2008-08-28T10:00:00.000Z

Penny Sukhraj, Accountancy Age, Thursday 28 August 2008 at 10:00:00

The 20 largest companies – ranked according to their size internationally within an industry – could be required to follow IFRS in six years while those with market values below $75m would switch two years later in 2016

US companies could be allowed to switch to international accounting rules in six years, the regulator announced yesterday. The move would lower the costs of compliance and increase the international...

SEC unveils roadmap for IFRS by 2014

AccountancyAge.com — 2008-08-28T08:32:00.000Z

AccountancyAge.com, Accountancy Age, Thursday 28 August 2008 at 08:32:00

SEC votes to seek public comment on proposed roadmap to IFRS beginning in 2014

USA’s Securities and Exchange Commission (SEC) agreed yesterday to seek public comment on its proposed roadmap leading to the adoption by US listed companies of International Financial Reporting Standards (IFRS), starting in...