1969: Accountancy Age is launched.
DTI inquiry into Robert Maxwell’s Pergamon Press causes its takeover by LeaseCo to fall apart.
Touche, Ross, Bailey & Smart becomes Touche Ross
1970: ICAEW’s proposal to merge with ICAS, ICAI and other bodies fails
1973: Henry Benson appointed first chairman of the International Accounting Standards Committee
1974: The Consultative Committee of Accountancy Bodies (CCAB) is formed
1977: IFAC is founded
1979: Ernst and Whinney is formed
1980: ACCA’s Vera di Palma becomes the first female president of an international accounting body
1984: Merger of Deloitte, Haskins & Sells and Price Waterhouse falls through
1987: Peat Marwick International and KMG merger forms KPMG
1989: Arthur Andersen/Price Waterhouse merger collapses in September.
Ernst & Young is formed from Ernst & Whinney and Arthur Young. Touche Ross and Deloitte Haskins Sells merge to form Deloitte & Touche
1990: The ‘Guinness Four’ are found guilty of fraud
1991: Robert Maxwell drowns. BCCI collapses. Polly Peck and Coloroll scandals lead to Ian Cadbury’s report on good corporate governance
1995: Deloitte & Touche creates Deloitte Consulting. Barings collapses
1996: Ian and Kevin Maxwell cleared of fraud, Coopers & Lybrand’s audits of Maxwell companies face JDS investigation. KPMG produces the first annual report by an accountancy firm, which reveals senior partner Colin Sharman earns a total package of £740,000
1998: Coopers & Lybrand and Price Waterhouse form PricewaterhouseCoopers.
JDS turns the spotlight on Arthur Andersen in connection with the £50m overstatement of profits by Wickes
2000: European Commission announces in July that it intends to make IAS mandatory from 2005.
The IASC completes its three-year restructuring programme and creates the International Accounting Standards Board, effective from April 2001.
Ernst & Young sells consulting arm to Cap Gemini
2001: SEC’s Enron investigation begins. Big Five issue a joint statement in December insisting that self-regulation remains the best policy following the collapse of Enron
2002: Andersen’s Houston office admits to shredding documents relating to Enron. WorldCom is accused of $4bn fraud, which drags Andersen into another scandal. Andersen UK acquired by Deloitte. SEC implements Sarbanes-Oxley
2003: Grant Thornton is dragged into €4bn accounting ‘black hole’ at Parmalat.
Deloitte & Touche rebrands as simply ‘Deloitte’. Higgs and Smith reports take an evolutionary step on from Cadbury and Turnbull
2004: The Financial Reporting Council is revamped. Inland Revenue merges with Customs & Excise.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements