Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
DRUG REPORTS
BY KEITH NUTHALL
THERE is a tendency amongst international business to think that the drugs trade has little impact on the real economy. Not so says a United Nations agency report, drugs harm legal commerce. Keith Nuthall reports.
THE INTERNATIONAL Narcotics Control Board has to encourage governments to take tough action against illicit drugs and it knows that nothing corrodes effective policing against illegal narcotics than the dubious assumption that the trade actually promotes sustainable development in poor countries.…
WTO SERVICES ROUND
BY KEITH NUTHALL
THE EUROPEAN Commission has offered to ease the difficulties faced by personnel departments when recruiting specialists and top staff from non-European Union countries.
In talks for the World Trade Organisation’s Doha Development Round, Brussels says if its trading partners offer adequate concessions in return, it will improve access to a wide range of EU service sectors to overseas companies and individual professionals and qualified professionals.…
WTO SERVICES OFFER
BY KEITH NUTHALL
THE EUROPEAN Commission has released its detailed offer for improving the access of non-European Union accountants into the EU market, as part of the ongoing Doha Development Round at the World Trade Organisation.
If its trading partners offer concessions in return, Brussels says it is prepared to allow “foreign accountants will be allowed to review and compile financial statements and other accounting information for European clients.”…
ICC INTERNAL FRAUD
BY KEITH NUTHALL
THE INTERNATIONAL Chamber of Commerce (ICC) has advised companies to implement stricter internal controls following the recent publication of the Ernst & Young and KPMG studies indicating that staff fraud grew substantially in 2002. “These studies underscore the need for corporations to be aware of fraud risks not only externally, but internally as well”, said Peter Lowe, assistant director of the chamber’s Commercial Crime Services department.…
LIBERALISATION SURVEY
BY KEITH NUTHALL
BRITISH accountants are the second most lightly regulated in the European Union (EU), with their Danish colleagues having the most freedom according to a European Commission-funded survey, promoting liberalisation in Europe’s professions. Belgium, Austria and Germany – where heavy regulation is often favoured – have the union’s most tightly restricted accountancy professions.…
STANDARDS DIRECTIVE
BY ALAN OSBORN
EUROPEAN Union (EU) ministers yesterday (Wednesday) formally agreed an amending directive that will allow member countries which do not apply International Accounting Standards (IAS) to all companies to bring in matching transparent, high quality financial reporting, so preparing the way for like-for-like financial comparisons throughout the EU.…
DIVESTITURE GUIDELINES
Keith Nuthall
The European Commission has published best practice guidelines for
divestiture commitments in merger cases. These are standard texts for
commitments and trustee mandates, designed to help merging parties offering
divestiture commitments so that the EC might clear a merger or acquisition
which otherwise would create or strengthen a dominant position.Details…
CROSS BORDER TAX
Keith Nuthall
A MODEL tax system for construction projects that cross national borders within Europe has been devised by the European Commission for work on a new bridge spanning the Rhine between Germany and Switzerland. The Commission has proposed that standard EU VAT laws are suspended, suggesting that all relevant good and services should attract German VAT and no Swiss VAT.…
ANDREASON END GAME
Keith Nuthall
The end of the Marta Andreasen affair, which at one time cast
doubts over the discharge of the EU’s pounds 65 million budget for 2001,
may be in sight according to Brussels insiders. The betting is that
European Commission vice-president Neil Kinnock will drop disciplinary
proceedings against Ms Andreasen, the EC’s former chief accountant who was
suspended by Mr Kinnock last year after voicing criticism of the
Commission’s accounting procedures.…
FISH SUBSIDIES - WTO
BY ALAN OSBORN
THE EUROPEAN Commission has signalled a move within Europe to cutting subsidies promoting increases in fishing industry capacity, formally proposing that all such grants and tax breaks in the fisheries sector worldwide should be banned. Brussels has tabled such a proposal at the World Trade Organisation (WTO) on behalf of the 15 EU member countries, saying it was part of the EU’s commitment to sustainable development, which was a key goal of the WTO’s ongoing Doha development round talks.”…