2013 - Page 2 of 3 - Emile Woolf writes

Spicing up the Audit Report will end in tears

A study of the evolution of the form and content of UK audit reports over, say, the past 50 years would make nostalgic but intriguing reading because it would at the same time reflect changing public and investor expectations of the audit function. Under the Companies Act 1948 audit reports were required, positively, to include […]

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Letter to ‘The Times’ 29 April 2013 on UKIP Budget proposals

Sir, The calculation of UKIP’s so-called funding gap of £120 billion (cuts £90 billion plus extra spending of £30 billion), as  referred to by Jill Sherman on pages 1 and 9 in today’s ‘The Times’, is seriously flawed. This ‘gap’ arises only when measured against the numbers in the present state of our stagnant  economy, and […]

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New face of banking regulation – and about time!

Regulation of the UK financial services industry is now entrusted to a new body with a new name and a new boss. Andrew Bailey, whose signature appears on your banknotes, takes over this month as chief executive of the Prudential Regulation Authority, successor to the FSA. Initial impressions augur well. In his first post-appointment interview […]

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Enhancing banks’ accounting regulation: and about time!

Regulation of the UK financial services industry is now entrusted to a new body with a new name and a new boss. Andrew Bailey, whose signature appears on your banknotes, takes over this month as chief executive of the Prudential Regulation Authority, successor to the FSA. Initial impressions augur well. In his first post-appointment interview […]

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Proposals for Tax Reform

Tax Reform Introduction: where we are now It is common ground between our main political parties that economic salvation lies in growth. Yet the debate on how to achieve it rapidly descends into a partisan dogfight between proponents of the alternative ideologies of austerity or monetary stimulus. The austerity brigade offer cuts in government spending […]

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Correspondence with Courtney Keane on tax policy

To Emile: Your writing on the issues of a flat tax, and land value taxation, is generally well-known. However, have you ever written anything on  whether the UK social security system can also be reformed and simplied? There seems to be nothing on your website on this topic. I’m interested in knowing, because I’ve recently come across a […]

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Audit quality: is lack of competition the problem?

Twelve years ago, when their audit of Enron’s last accounts heralded the demise of Arthur Andersen, the largest end of the audit market shrank to four firms. The Competition Commission (CC) has now provisionally concluded that the audit market is restricted: companies are inhibited from switching auditors and there is a tendency for auditors to […]

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EU membership, in or out? Think it through but tread warily

“Expert” is defined as a  person whose research, knowledge and experience accords them the respect of  their peers in a well-distinguished domain. Economics is just such a domain, yet the degree of diversity in the views of  so-called experts can be astonishing. Take one of today’s most topical issues: will a UK exit from the […]

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