Knowingly or recklessly
Article Abstract:
The UK government, with a view to reform corporate law, has proposed a new criminal offence of 'knowingly or recklessly' giving an incorrect audit opinion. 'Knowingly' giving an incorrect audit opinion would cover a situation in which an auditor provides an incorrect audit opinion knowing that his opinion is incorrect. 'Recklessly' giving an opinion would cover circumstances in which an auditor knows that there is an obvious and serious risk of his opinion being incorrect, but he or shegoes on to take the risk of providing the opinion.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2005
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Nightmare on Aldwych
Article Abstract:
The Accounting Standard Board's urgent issues Task Force's pronouncement on revenue recognition, published from its Aldwych headquarters in March 2005 was a nightmare, especially for the smaller firms. A research by the UK professional bodies points to substantially increased tax liabilities for partners and even the prospect of insolvencies among smaller professional firms.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2005
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Stay out of jail
Article Abstract:
The British Proceeds of Crime Act will force auditors and accountants to know much more about the companies they do work for.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2003
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