Multiple languages for the single market

Article Abstract:

The European Commission has dealt with the problem of multiple languages in the single European market of 1992 by creating a regulation that promotes the comparability of languages throughout the European Community (EC). The Recognition and Translation of Documents Regulation stipulates that a document required by law in EC member states that is rendered to a public authority or made public can be submitted in any language that enjoys an official status in any other EC state. For the accounting profession, the regulation means that corporate accounts can be submitted in any official EC language. The Institute of Chartered Accountants in England and Wales is considered a public authority and thus, required documents can be submitted in any official language. The regulation will come into effect on Easter Monday, 1991 in all EC states except Greece.

Social aspects, Analysis, Institute of Chartered Accountants in England and Wales, European Union. European Commission, Single European market, Multilingualism, European Community

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Fear stalks the world of financial reporting

Article Abstract:

The Financial Reporting Review Panel has so far been quite successful in persuading the public, the press and the business community of its seriousness in cracking down on dubious financial reporting practices. The danger exists, however, that public expectations may be raised to an almost unrealistic level, in which case, the Review Panel runs the risk of losing its credibility if it is unable to use its powers judiciously. Its continued success in the future depends largely on the skill of the people entrusted to run it, particularly its chairman David Tweedie. So far, the Review Panel has acquitted itself well, but the situation could change quickly, particularly if it were unable to sustain an accusation levelled at a prominent firm.

Financial statements

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Criminal intelligence

Article Abstract:

The UK National Criminal Intelligence Service (NCIS) criticizes accounting firms for failing to report more information about such illegal actions as money laundering. A large number of reports are submitted to the the NCIS.

United Kingdom, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Police Protection, Crimes Against Property, Editorial, Management, Investigations, Information services, Accounting firms, Accounting services, Money laundering, Criminal investigation

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