June 2016 - Emile Woolf writes

New EU Audit Regulations – rising to the challenge

RISING TO THE CHALLENGE ‘ACCOUNTANCY’ [JULY 2016] During the 2008 financial crisis several banks and other lending and deposit-taking institutions collapsed without a hint of warning from their auditors. Since that time pressure to improve the quality of annual audits has been building up, and by the time you read this, new EU Audit Regulations […]

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The Private Eye Libel Case

LESSONS TO BE LEARNED FROM THE PRIVATE EYE CASE EMILE WOOLF as expert witness, written by MOIRA HINDSON ACA  KINGSTON SMITH The collapse of the defamation case brought against the magazine ‘Private Eye’ by John Stuart Condliffe, a West Country accountant, has been widely reported in certain sections of the press and, of course, in the magazine […]

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Authenticating financial reports: a complete rethink is clearly overdue

  “Accountancy” February 2016 Hercules managed to clean out the Augean stables in a single day. We could do with a Hercules to clean up today’s money-grubbing world – although he may need a little longer: FIFA sleaze; athletics doping scandals; Volkswagen’s emissions-test cheating; drug manufacturer’s bribery charges; leading banks charged with mis-selling, rule-bending and […]

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Accounting tricks flatter the accounts, and inflate executive pay

‘ACCOUNTANCY’ – JUNE 2016 The term “creative accounting” always carries the pejorative implication that accepted accounting rules are being manipulated to make trading results over a defined period appear to be better (never worse!) than warranted by facts. Perennial rule-tightening is like painting the Forth Bridge – the job is never done. Standards, the building […]

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