ACCOUNTING REGULATION is “toothless”, according to Accountancy Age readers, after HP’s £5.5bn write-down following its acquisition of Autonomy.
Of the 72 readers surveyed, 69% agreed more assertive regulation would have highlighted any accounting improprieties, while the remaining 31% felt better regulation would not have necessarily solved the problem.
Citi analysts criticised the way financial reporting is policed by the Financial Reporting Council, in response to allegations of disclosure failures at Autonomy, the former FTSE 100 technology business acquired by HP.
They laid some of the blame on the way annual reports and accounts are policed by the Financial Reporting Review Panel, an arm of the Financial Reporting Council.
Paul Boyle is appointed as the president of the Chartered Institute of Internal Auditors
Paul Druckman has been appointed to the board of the Financial Reporting Council (FRC)
Do you have an investigation looming large over you? Kingsley Napley's Julie Matheson goes through the best strategies to manage the process
An accelerated entry route into CIMA for CIPFA members is launched