Tax-free pay for accountants
Article Abstract:
Accounting firms offering profit-related pay (PRP) to lessen payroll costs orto increase the appeal of their compensation packages are required to undergo the auditing process themselves. Apparently, the benefits offered by PRP are enough to overcome whatever objections auditing firms may have to having its books and records examined by another firm. PRP schemes have proven to be effective in cutting an accountancy firm's payroll costs, as well as in improving staff retention, promoting loyalty and enhancing a company's competitiveness. In exchange for these, the PRP legislation requires all companies with PRP schemes to be monitored by an independent accountant tasked to ensure that Inland Revenue requirements are being complied with. The rise inthe number of PRP schemes to 4,149 in 1992 seems to suggest that this auditing requirement is not really an onerous burden.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Extremes of fortune
Article Abstract:
The prospects of newly-qualified accountants in the UK in 2001 are discussed, with focus on the high demand for all types of accountants and the need for candidates with good business and interpersonal skills.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
No change?
Article Abstract:
The European Commission's (EC's) view of auditor independence as set out in a consultation paper published in December 2000 is discussed, with focus on how the EC's rulings will modify the UK's regulations.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A fresh look at the principles of accounting. Managing change. Walking the audit tightrope
- Abstracts: Green on pay? All about options. Bonus nonsense
- Abstracts: Accountants as educators. Going it alone
- Abstracts: Trustees can't shirk their responsibilities. Protecting your fund from predators. Fashion statement