The statement fuel the debate merger accounting and efforts by the International Accounting Standards Board to abolish merger accounting.
Speaking at the IoD conference at the Royal Albert Hall, Mathewson insisted NatWest had been fully integrated into RBS because of the way it had been acquired.
He said: ‘We could not have done this if the acquisition had been a merger, we could only have done it as a hostile takeover.’
Within three days, he added, NatWest head office had been closed and they had chosen the best employees to remain with RBS.
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