Public Accounts Committee not furthering tax avoidance debate, say readers

THE PUBLIC ACCOUNTS COMMITTEE is doing little to advance the tax avoidance debate or get closer to any solution, according to Accountancy Age readers.

An overwhelming 86% of the 60 readers polled felt the committee’s approach is too adversarial and fails to take into account evidence provided, while the remaining 14% feel the committee has done a good job.

The committee – chaired by Labour MP Margaret Hodge (pictured) – has spent a huge amount of time delving into issues around tax avoidance – methods used to drive down tax rates within the law – and how to prevent it. Most notably, representatives of multinational companies accused of avoidance Amazon, Google and Starbucks have appeared before the committee and been heavily criticised for their tax practices.

Last week, tax heads from the Big Four gave evidence and were accused of being too close to government and the legislative process.

Take part in the latest Accountancy Age poll:

Regulators are consulting on a broader scope for auditors, which could include more detailed risk analysis. Will an extended auditor report provide more value to stakeholders?

Related reading