Gordon Brown’s Budget speech will be delivered on Wednesday 7 March. The move follows the trend set in November’s pre-Budget report, when the chancellor preferred Wednesday over Tuesday, the day on which all Budget statements since 1980 have taken place, with the exception of his post-election mini budget in 1997. AccountancyAge.com will be covering the 2001 Budget in detail, providing news and analysis from the moment Brown stands up at around 3.30pm.
For the latest on Budget 2001 visit www.accountancyage.com/News/1117726
The financial reporting standard for smaller entities (FRSSE) has been put under review by the Accounting Standards Board. Mary Keegan, the new chairman of the ASB, is seeking views on how the standard is working in practice, two years on from its original launch. The FRSSE brought together the requirements of other accounting standards and Urgent Issues Task Force abstracts which could be used by companies and other organisations with a turnover of less than #2.8m or gross assets of less than #1.4m.
More on this story at www.accountancyage.com/Practice/1117807
The Department of Trade and Industry’s report into the collapse of media mogul Robert Maxwell’s empire is not set to be released for several weeks. A spokesperson for the DTI confirmed that the 1,000 page report was still with the inspectors and had yet to be delivered to the secretary of state Stephen Byers. It is believed the report will be critical of several advisers involved with the Maxwell companies, including banks, lawyers, and auditor Coopers & Lybrand Deloitte, now part of PricewaterhouseCoopers. More on this at www.accountancyage.com/Practice/1117692
Jarvis, the rail contractor, has this week appointed Robert Kendall as finance director of the group. The company said Kendall – a chartered accountant who trained with KPMG – had effectively been carrying out the FD function since last June, when the then FD Henry Lafferty was promoted. The company last year lost a High Court battle with former auditor PricewaterhouseCoopers over audit fees.
Visit www.accountancyage.com/Business/1106741 for more information
David Illingworth, a partner in KPMG’s Manchester office, has been elected vice-president designate of the ICAEW in a ballot of institute council members. Illingworth, who will take office formally on 6 June, said he looked forward to participating in the opening of ten regional offices in the summer, which he said would ensure that the views of members in district societies were better represented in regional government and other business forums.
Read the full story at www.accountancyage.com/Practice/1117322
Fraud value dropped to £192m in 2000 compared to £667m in 1999 – a decrease of 71 per cent – making it the first time since 1996 that the upward trend in the value of fraud has been reversed, according to KPMG’s Fraud Barometer. The figures show the average value of each case recorded was down from #9.4m in 1999 to #3.1m in 2000. The number of fraud cases also decreased slightly – down 13 per cent – from 71 in 1999 to 62 in 2000. The survey also showed that company managers were three times as likely as their employees to commit fraud.
For full details go to www.kpmg.co.uk
ICAS is bringing in lay members to sit on its council. The move by the Scots institute follows the decision by public sector accountancy body CIPFA to introduce a mixture of lay people and institute members to its disciplinary committees. But in what it claims to be the first move of its kind for an accountancy body, ICAS has invited two lay members to join its council. Christine Glover, currently president of the Royal Pharmaceutical Society of Great Britain, and dental surgeon Tom Macadam, who has previously served on the General Dental Council, will sit on the council for three years.
The institutes’ websites are at www.icas.org.uk and www.cipfa.org.uk
Mid-tier firm Baker Tilly has appointed John England as its chairman, following the resignation of Clive Parritt last week. England, 60, was previously managing partner of the firm’s Birmingham office and has served as deputy national managing partner from July 1996. He has also been a member of Baker Tilly’s national management team since 1991. Parritt quit the firm to join independent corporate finance house The Business Exchange as chief executive. He had been managing partner of the firm since 1986, becoming chairman in 1996.
More on this can be found at www.accountancyage.com/News/1117888.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel