On Monday, the pension accounting rule FRS17, which has revealed massive deficits in UK company pension schemes, was expected to do the same to the National Health Service, which is set to reveal a £100bn hole in its pensions.
Also on Monday, it was revealed that the government is considering fast tracking measures to limit the liability of auditors, rather than wait for the law reform bill to be passed.
And the beleagured Inland Revenue was again in trouble, as its infamous tax credit computer system was hit by a new problem, with new tax codes not being recognised, stopping funds due to low paid workers.
Also on the day, some good news, with the profession feeling ‘quietly confident’ about business prospects for the coming year, according to a survey conducted by the ICAEW.
Friday, it was reported that a committee of creditors voted to keep The Accident Group in administration, rather than liquidate it, following a heated meeting of interested parties on Thursday.
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