Search Results for: accountancy

BY KEITH NUTHALL

THE LATEST annual report from European Union (EU) anti-fraud unit OLAF has revealed how an accounts department staff member of a European Commission delegation to Africa diverted Euro 300,000 of EU money to his own bank account. The official, who had been recruited locally, "systematically falsified the signatures of duly authorised delegation staff on several cheques, payment orders and other accounting documents," noted OLAF, which has kept the country of operation under wraps.…

BY KEITH NUTHALL

THE EUROPEAN Agency for Reconstruction (EAR) is trying to boost financial discipline in the public services of Kosovo, teaching budgeting management and drafting skills to civil servants. The aim is to keep budgets and books tight from the start, so there are fewer messes to clear up later by the province’s government accounting and audit teams.…

BY RAGHAVENDRA VERMA, in New Delhi

"WE will expedite the adoption of accounting standards in alignment with the International Accounting Standards", said India’s Prime Minister Manmohan Singh in a recent statement (18th March 06). With this, he cleared all doubt about his government’s support for the adoption in India of global accounting norms.…

BY RAGHAVENDRA VERMA, in New Delhi

AN ALL-INDIA topper in school, the best performer in 1980 within his country’s Chartered Accountants’ Institute, and the first to hoist the sail of accountancy-outsourcing to India: Sunil Goel, 49, combines his academic knowledge, business skills and passion for information technology to reap the benefits of globally expanding business.…

BY KEITH NUTHALL

BRITISH government financial controls will be examined by a special European Parliament committee of inquiry into the near collapse of Equitable Life, and the slashing of its pensions. The parliament has launched its probe following complaints from policy-holders, especially the around 15,000 non-British clients, mainly from Germany and Ireland.…

BY ALAN OSBORN

THE US Public Company Accounting Oversight Board (PCAOB) has attempted to allay fears arising from reports that it plans a significant rise in inspections of foreign audit firms in 2006, saying that while the number would rise this was due to "natural growth" and did not indicate any change of policy or any new concerns about foreign auditors.…

BY KEITH NUTHALL

INTERNATIONAL accountancy firms will be closely monitoring next week’s World Trade Organisation (WTO) summit in Hong Kong for signs that the WTO’s long-running Doha Development Round talks are about to crack open national accounting and auditing markets. Progress in refreshing the WTO General Agreement on Trade in Services (GATS) has been sluggish since talks began in 2000, one year ahead of the general round, with few trade-offs being offered in bilateral exchanges.…

Keith Nuthall
THE EUROPEAN Commission is holding a legislative bonfire, releasing details of financial proposals it will abandon under a drive by its current regime to simplify European Union (EU) laws and lessen their impact on industry. Most of the proposals earmarked for the shredder have encountered political opposition from the EU Council of Ministers and the European Parliament, making it difficult for the Commission to get them passed into law.…

BY KEITH NUTHALL
THE EUROPEAN Commission has called on European Union (EU) countries to further liberalise their professions, including legal specialists, although a Communication’ policy paper praises Britain for its reforms. The UK “is making good progress” across the board in fighting restrictive practices regarding profession entry, fees and advertising, along with Denmark and the Netherlands, said Brussels.…

BY KEITH NUTHALL
THE EUROPEAN Commission has called on European Union (EU) countries to further liberalise their professions, including accountancy, although a detailed report praises Britain for its reforms. The UK “is making good progress” across the board in fighting restrictive practices regarding profession entry, fees and advertising, along with Denmark and the Netherlands, said Brussels.…