On Monday, the accounting world, like the rest of the country took a well earned Easter break.
The day also saw some distressing news for the IT industry, following fresh reports suggesting IT companies are being forced to police their own supply chains for cases of VAT fraud because Customs & Excise cannot do it itself.
We also a reported on a High Court case in which Marks & Spencer could win £30m compensation from the Inland Revenue, which begins on Tuesday next week.
On Thursday controversial chemical and pharmaceutical testing company Huntingdon Life Sciences said it was considering employing what would be an unprecedented hit-and-run audit system, in order to save the company’s listed status, while Ernst & Young came under increased pressure over its audit of US media giant America Online after the Securities and Exchange Commission probe into the company’s advertising deals deepened.
Friday, it emerged from the across the pond, that UK auditors of US-listed companies will be able to avoid registering with the US’s fledgling accountancy regulator until April next year, the watchdog has confirmed.
And just to prove that the technology does not rule the workplace, more than two-thirds of finance directors complain that despite the implementation of IT solutions, they still remain heavily reliant on paper.
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