Illingworth said quarterly reporting would increase the costs faced by listed companies and that in the US the measure had put pressure on companies to improve their profits constantly.
Speaking to the Financial Times Illingworth said that because of Enron there was pressure to ensure ‘quarterly earnings were always in ‘one direction’.
The European Commission would like to see quarterly reporting made mandatory by 2005, at the same time as International Financial Reporting Standards go live.
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