On Monday, in a last minute u-turn, Deloitte & Touche decided to scrap plans to split off its consultancy arm due to ‘economic uncertainty exacerbated by the war in Iraq’, surprising its Big Four rivals and the accountancy industry in general.
And an Inland Revenue tax ruling forced Mohamed Al Fayed, the charismatic Harrods owner who has been seeking British citizenship for over a decade, to pack his bags and relocate to Geneva.
Yet another football club joined the financial casualty list after corporate recovery partners from insolvency specialists Begbies Traynor were appointed joint administrators at second division club Huddersfield Town
Across the pond, a new US watchdog insisted on supervising accountancy firms in Europe, Asia and the Middle East if they audit any company whose shares are traded in the US.
On Thursday Accountancy Age exclusively revealed that with less than a week to go until the Budget, Gordon Brown is facing a devastating court action which could see the UK Treasury out of pocket to the tune of more than £1bn.
And adding more pressure on Brown, the Accountancy Age/Reed Accountancy Personnel Big Question showed that finance directors believe strongly that the chancellor should not raise taxes on Budget day in order to fund war with Iraq.
Friday saw the week end with doom and gloom predictions from the Institute of Directors who said Sunday, 6 April would be a black day for UK businesses with the introduction of what it calls ‘time consuming red tape and an ever increasing tax burden’.
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