The figures, released this morning, are ‘designed to enable shareholders and the financial community to make comparisons when the new IAS/IFRS guidance is fully introduced from 1 January 2005,’ according to Jonathan Symonds, chief financial officer of AstraZeneca.
Symonds is also chairman of the FTSE100 group of finance directors, and the restatement, believed to be the first of its kind, is widely seen as an exercise of leading by example.
The $104m hit was described by Symonds as ‘modest’ in the group’s overall operating profit of over $4.1bn.
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