The IASB could do more good than Live 8 by opting for country-by-country
disclosures, an accountant working with the Publish What you Pay coalition said
Richard Murphy, who helped write submissions to the standards board, which
drew up International Financial Reporting Standards, said that he was becoming
increasingly worked up by the board’s intransigence over the issue.
‘[The move] could do more good than Live Aid or Live 8, outdo Bono, make tax
evasion and corruption a great deal harder for larger companies, help increase
the tax revenues of most of the poor nations of the world… and all by saying ”
account for and where you are”. This is a big chance for the profession,’ Murphy
The coalition wants companies to report on a country-by-country basis in
order to increase disclosure to stakeholders.
Charities including Save the Children and Cafod made the proposals earlier
this year. But the board opted for a management approach reflecting how
decisions are made within companies.
The board was set to discuss the issues raised yesterday, with all proposals
said to be still on the table.
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Smaller businesses could be excluded from government plans for making business transactions digital, found new research from ICAEW
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live