Mary Keegan, chairman of the ASB, confirmed that Piper was still a member of the UITF, and said that he had not given any sign of an intention to resign, And she indicated that he would not be forced out.
‘People occasionally lose their job,’ said Keegan. ‘It happens to the best of us from time to time but that has no bearing on whether they are on a task force or not.’
Piper could receive up to £300,000 in compensation for his aborted position as finance director at Trinity Mirror, which was taken away from him the day before he was due to join.
Trinity Mirror blocked Piper’s arrival after Atkins accrued a huge amount of debt – £63m in six months – and the problematic introduction of a new technology system. Last week’s trading statement by Atkins, which saw profit expectations revised from £40m to £15m, caused its share price to crash by 72%. The impact that the problems with billing and control had on Atkins’ estimated figures were seen as part of the remit of the finance director, and this, according to Trinity Mirror, made Piper’s appointment ‘no longer appropriate’.
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