Link: FRC hires the A-Team
Sir Bryan Nicholson said the Financial Reporting Review Panel, which looks into alleged accounting abuses, would be ill-advised to mimic the way the SEC operates, as has been suggested by the government, due to the huge increase in bureaucracy this may involve.
He also pointed out that for its size the US body still missed the abuses that triggered the Enron and WorldCom scandals.
‘I doubt very much we want the massive apparatus of the SEC,’ said Sir Bryan in an interview with the Financial Times. ‘I do not think there is appetite or need.’
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