Link: FRS 17 special report
The bank, which last year suffered a $691m fraud in its US subsidiary, raised pre-tax profits to euros 1.38bn in 2002 from restated profits of euros 577m the previous year following the fraud.
Despite the profit increase, the bank admitted that it has taken a significant hit on its pension scheme registering a deficit of euros 482m in 2002 compared to a surplus of euros 314m in 2001. It blamed the change on FRS 17.
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