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CA Magazine

Every article from your latest print edition of CA Magazine

October 2009

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'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