CA Magazine
Every article from your latest print edition of CA Magazine
October 2009
Download PDF
'Decade' to wind up Lehman
PricewaterhouseCoopers partner Tony Lomas, the administrator of Lehman Brothers’ European operations, has warned winding them up "may take a decade"
Audit Commission issues report on public purse fraud
The Audit Commission has identified specific risks that it says are often not adequately addressed, to do with housing tenancy, council tax and recruitment fraud
PwC's Scottish office tops parent's performance
The Scottish office of PricewaterhouseCoopers has posted a rise of 3.7 per cent in overall revenues, to £111m from £107m. That’s compared with a rise of less than 1 per cent for its parent group, which saw turnover of £2.25 billion for year to June 2009
Tenon's profits rise 8% as insolvencies surge
Tenon has hailed a strong performance at its Scottish arm after posting an 8 per cent rise in group-wide operating profit
Slight growth of permanent and temporary staff appointments
KPMG and the Recruitment and Employment Confederation’s (REC) latest Report on Jobs signals a return to growth of both permanent and temporary staff appointments during August, albeit only marginal
City has failed to learn lessons of banking crisis
A year after the collapse of Lehman Brothers, the Institute for Public Policy Research (IPPR) think-tank has warned the lessons of the crisis have not been learned, and that this may not be the last crisis of its kind
Item Club sees 'false dawn' in UK housing market
The Ernst & Young Item Club has said that the recent rise in UK house prices is a "false dawn", and that property values will not return to their 2007 peak for at least another five years
Deloitte says executive bonuses are holding up
A report by Deloitte says bonus pay-outs for executive directors in FTSE 350 companies are holding up even though more than 70 per cent will receive no pay increase this year
Rover bosses attacked over pay and pensions
The executives who were running carmaker MG Rover when it collapsed in 2005 received “unreasonably large” payments, according to an independent report into the carmaker’s demise, although they will not face a criminal investigation
FRRP finds Supercart’s accounts not up to standard on IFRS 8
The Financial Reporting Review Panel (FRRP) has decided that supermarket trolley group Supercart failed to disclose information required under IFRS 8 in its accounts for the year ended 31 December 2007
Gender pay gap in City 'shocking'
Men working in the UK's financial sector receive five times more in bonus payments than women, according to a survey of 44 leading companies. On average, women earn £2,875 compared with £14,554 for men, the Equality and Human Rights Commission has found
CAs should turn green
All accountancy businesses should focus a significant amount of management time ‘going green’, as it will give them a competitive advantage
Accountancy needs to do more to attract graduates
Nearly half of today's accountants (44 per cent) do not believe enough is being done to attract graduates to the profession or to study accountancy