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The horse has bolted, but at least the Lords have started to clear out accountancy’s Augean stables

In Blog by Ian Fraser0 Comments

March 30th, 2011 Here is Lord MacGregor, a former Conservative chief secretary of the Treasury, unveiling the hard-hitting and long-awaited conclusions of the House of Lords Economic Affairs Committee’s report into audit profession. This is an inquiry I’ve been following with interest and which I’ve written on Qfinance (Scrap mark-to-market …

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Mark-to-market accounting a danger to capitalism

In Blog by Ian Fraser0 Comments

18 January 2011 The interrogation of Barclays’ newly-installed chief executive Bob Diamond by the Treasury committee of the House of Commons last Tuesday was an unsatisfactory affair. But it was followed by a much more productive parliamentary session in the UK — a meeting of the House of Lords Economic …

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Scottish Revolution – Alyson Stafford interview

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Accountancy Magazine Date: 1 December 2010 Alyson Stafford clearly relishes is her interactions with Scottish politicians, including first minister Alex Salmond and finance minister John Swinney. ‘What makes this role really interesting are the strategic aspects of the work,’ says Stafford, the finance director to the …

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Vantis in its death throes? – edited version

In Blog by Ian Fraser8 Comments

14 June 2010 A firm of accountants which last year was found guilty of enabling celebrities, sportsmen and other wealthy clients to evade £219 million in tax, and whose partner Simon Glyn was personal assistant to the bank manager at the epicentre of the Bank of Scotland Reading scandal, an …

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Time for a fundamental review of the accountancy profession

In Blog by Ian Fraser2 Comments

15 March 2010 America’s Financial Accounting Standards Board (FASB) and its London-based counterpart, the International Accounting Standards Board (IASB), both privately-owned and self-regulatory bodies, have for decades been trusted with the task of setting the accountancy standards that represent the bedrock for financial reporting worldwide. In the light of the …

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Insolvency gravy train to hit buffers?

In Blog by Ian Fraser4 Comments

12 November 2009 It’s becoming increasingly apparent that the world of insolvency has become an unregulated free-for-all where it no longer seems to matter in whose hands property or assets end up. Even supposedly reputable accountancy firms such as Deloitte, Ernst & Young, KPMG and PwC have been known to …

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Firms adapt to hard times as revenues fall

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Financial Times Date: 4 November 2009 Scotland’s professional services firms have suffered real pain prompted by the near-collapse of its two biggest banks, the shift in their centre of gravity to London, the continuing loss of corporate headquarters and the slump in commercial property and M&A …