Commenting on tax avoidance, which is legal but frowned upon by the UK government, Broadbent suggested accountants should reassess working practices.
‘The accountancy profession has to ask itself whether it is happy that many (accountants) play at the fringes of the law,’ he said.
But John Whiting, tax partner at PricewaterhouseCoopers and former president of the CIOT, objected to what he said appeared like a ‘certain moral blackmail’. ‘It’s an interesting debate,’ he said. ‘Will there be an increasing moral dimension to paying your tax?’
Frank Haskew, senior technical manager of the ICAEW tax faculty, said tax avoidance was ‘never going to go away’ and turned Broadbent’s argument back on the government.
He said Customs & Excise and the Inland Revenue were sometimes guilty of what Broadbent was describing. ‘You only have to look at pensions and ISAs to realise that there’s a lot of state-sponsored tax avoidance,’ he said.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day