Link: Higgs report special
There had been concerns that companies would refuse to go along with some of the more unpalatable parts of the code, which comes into effect on 1 November, in the light of Barclays’ plan to move chief executive Matt Barrett to the position of chairman and a similar move for Sainsbury’s Sir Peter Davis.
However FRC chairman Sir Bryan Nicholson is unconcerned by these moves. Speaking to the Financial Times he said: ‘There are always going to be exceptions. Who the hell will care about any individual case two or three years down the line?’
Sir Bryan added that he was pleased to see that the trend for chief executives becoming chairmen was ‘going out of fashion’.
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