Monday saw news Ernst & Young is to face a lawsuit worth £350m in the US after government agency Federal Deposit Insurance Corporation decided to sue over its audit work at failed financial institution, Superior Bank. News that bankruptcies have continued to rise also emerged on Monday.
Frits Bolkstein, EU commissioner for single markets, demonstrated on Gordon Brown announce he would make enterprise the key focus in his pre-Budget report and a lawsuit was launched against Royal & Sun Alliance by administrators working on the failure of US car parts giant Federal Mogul.
On Wednesday the financial world was rocked when it emerged that Harvey Pitt, the beleaguered chairman of US financial watchdog the Securities and Exchange Commission, had finally resigned afters months of criticism and pressure.
On Thursday the 2002 Accountancy Age Awards for Excellence dominated industry news. John Ormerod the former managing partner of Andersens took top honours with the Personality of the Year award. Meanwhile PricewaterhouseCoopers won the Big Four Firm award while David Leather, finance director of the Commonwealth Games in Manchester shared FD of the Year with Chris Woodhouse of Homebase.
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