The European Court of Auditors has declined to give the European Commission’s
accounts a clean bill of health for the 15th year in a row.
Papers published today [10 Nov] for 2008 reveal that the court accepted the
accounts “present fairly, in all material respects, the financial position of
the Communities” but note “weaknesses in the accounting systems …. still put
at risk the quality of financial information of certain directorates general
It complains in particular about “pre-financing”, invoicing and the assets of
the European Satellite Programme Galileo. It added that payments underlying
accounts related to “cohesion”, “research, energy and transport” and “external
aid” are “materially affected by error”.
It says the Commission has not been able to demonstrate its efforts to
improve supervisory and control systems have been effective in mitigating the
risk of error.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed