Of all the courts in all the world...
Article Abstract:
Serving as a forensic accountant in the legal battle Lloyd's of London and Names was a unique experience for Stephen Podgorney of RGL International. Names in the Gooda Walker syndicates were trying to recover losses that they incurred due to the negligence and incompetence of their agents. They were claiming 629 million pounds sterling but this amount was rejected by the High Court, which insisted that the claim should be about the same amount that the Names would have gotten had the underwriting been conducted competently. Podgorney's job was to determine the true value of the claim. Although it seemed to be a straightforward task, it turned out to be a highly complicated case. It had no legal precedent, involved huge amounts of money and was expected to affect the future of Lloyd's itself. While he and his firm were able to meet the challenges that the job presented, Podgorney claims that he is happy that his involvement in the case is finally over.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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Practical issues for the smaller practitioner
Article Abstract:
Smaller accounting firms need not fear the Inland Revenue's adoption of the income tax self-assessment regime. Although self-assessment appears to be extremely complicated, a well-organized and up-to-date accountancy practice should not have too much difficulty making the transition from the old to the new assessment method. In fact, self-assessment offers them three additional months to file tax returns and is even likely to win them more customers because the complexity of the new assessment procedure is bound to compel the latter to seek professional assistance. The transition to self-assessment, however, will prove problematic for accounting firms that have a tendency to cram. To ensure their continued success in the new environment, tax accountants must address not only the technical issues but also the practical issues of self-assessment. These include the changing client base, technological advances, training, and staffing and facilities.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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