BusinessCompany News30 June – 4 July

30 June - 4 July

This week saw a deal reached between the BBC and the National Audit office, while John Lewis was named the biggest private UK company and a major review of the UK's tax authorities was announced.

Monday

saw the long-running dispute over National Audit Office access to the BBC’s accounts appear to come to an end after a compromise deal was spelled out in the House of Lords.

And high street retailer John Lewis was named the biggest private company in the UK, according to the latest Top 100 table compiled by KPMG and The Sunday Times.

Tuesday, parliamentary ombudsman Ann Abraham cleared the Financial Services Authority of maladministration over Equitable Life in a major blow to policyholders’ hopes of Treasury-funded compensation.

Also in Westminster, the Conservative party urged the government to do more to tackle corruption in Europe after the European Commission’s chief internal auditor announced he would be standing down.

On Wednesday, a major review of the way Customs & Excise and the Inland Revenue operate was launched by the chancellor, with the primary focus being on improving public service delivery.

It was reported that Price Waterhouse (now part of PricewaterhouseCoopers) faces a £1.6m pay-out as a result of negligent advice given to Keele University over profit related pay schemes.

Thursday, Accountancy Age exclusively revealed that the Financial Reporting Council has resisted pressure from businesses to ‘water down’ the Higgs code – but admitted this week that the deadline for implementing the controversial proposals had slipped.

And the Department of Trade and Industry published a consultation document on proposals to introduce age discrimination legislation by October 2006.

Friday, it was revealed that UK companies could find it more difficult to protect their email systems from inappropriate content, after a US court ruled in favour of an employee, who slammed his former employer using corporate email accounts.

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