Financial Executives International, a US body, which has been meeting potential new members this week, comes to this country in the wake of concerns about the finance professions following the collapse of Enron.
FEI will be the first alternative to the 100-Group for FDs, but will also admit members from much smaller companies. It has chosen to begin its European expansion in the UK because of the increased importance of the London-based International Accounting Standards Board.
The FEI code of conduct encourages members to avoid conflicts of interest and insists all forms of financial reporting should be clear – both faults found with the Enron scandal.
Philip Livingston, FEI’s president and chief executive officer, said: ‘We are the first professional association for all FDs. We need to get organised on a global level.’
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
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation