saw the publication of the eagerly awaited Higgs’ report on corporate governance. Responses to the report, and the accompanying Smith report on audit committees, broadly supported the recommendations, but there were some concerns.
Somewhat more humourously, administrator Grant Thornton struck a deal with Carlton and Granada enabling ITV Digital’s former subscribers to keep their set-top boxes.
On Tuesday, Sir Nick Montague, chairman of the Inland Revenue said celebrities such as the Beckhams and MPs have special protection within the Inland Revenue’s computer systems to stop staff ‘browsing’ their tax records.
In the courts, Ernst & Young’s attempt to have the £2.6bn Equitable Life negligence action against it struck out, finished with the High Court judge retiring to make his decision.
Also on the same day, the EU reached a historic compromise agreement on rules governing the taxation of savings invested abroad.
On Thursday our top story was how a second Big Four firm moved to protect itself from third party liability claims by adding a new disclaimer to its audit reports, while our Big Question survey found that almost half of all finance directors expect their businesses to suffer if there is a war with Iraq.
Friday saw the North of England revealed as the insolvency graveyeard, with more businesses having gone bust in the last year than in any other region in the country, confirming a North-South divide in failure rates.
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
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation