Sir Digby made the announcement just a day after the head of the SEC revealed in London that it plans to offer a further delay to the implementation of the now notorious Section 404 of the Sarbanes OXley Act, for foreign listed companies.
Some 25 UK companies have told Sir Digby that they would delist from US exchanges, and he expects 60 European companies in all to pull out, according to The Times.
In December Accountancy Age revealed that UK companies with a US listing were caught in a ‘compliance trap’ and would find it ‘almost impossible’ to delist and escape Sarbanes Oxley compliance.
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