November 2012 - Emile Woolf writes

Ignore the European lessons and you pay the price – yet again!

What an interesting year for anniversaries! Exactly thirty years ago Laker Airways went bust and Bill Mackey, Laker’s liquidator, left us his own history lesson, which is now part of accountancy folklore. He produced a colourful checklist for prophesying a company’s financial collapse: lavish offices and flash company cars with personalised plates; a flagpole in […]

Read More…

Audit Scope: common sense beats rules, every time

The argument about auditors’ contribution to the 2008 debt crisis is still unresolved, and it will remain so until the central question of audit scope is addressed. The traditional perception that auditing has an historic focus merely entrenches its uselessness in the face of a radically altered commercial environment and risk levels that demand a […]

Read More…