Labour set for battle over company tax

Article Abstract:

Wide-reaching changes in corporation tax are to be recommended shortly by the UK's Commission on Public Policy and British Business, created by the Institute for Public Policy Research, which supports the Labour party. Many companies and City institutions are against the idea of making extensive changes to corporation tax, but Labour party policy is expected to be strongly influenced by the commission. The party has already backed proposals by the CBI to establish a new tapered capital gains tax system.

Taxation, Column, Corporate taxes, Labour Party (United Kingdom), Corporations, Tax policy

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'Make the audit an inside job.' (role of external auditors in Scotland)

Article Abstract:

The Institute of Chartered Accountants of Scotland published 'Auditing Into the Twenty-First Century,' which proposes that internal auditors take on much of the detailed work done by outside accountants. It suggests external auditors become assessors with a checking role. Directors of listed companies should be responsible for reliable systems of management information and internal control. This requires stronger internal audit departments with an experienced chief internal auditor.

Reports, Practice, Scotland, Institute of Chartered Accountants of Scotland

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Audit battle lines are drawn

Article Abstract:

The President of the Board of Trade Michael Heseltine will make a statement about audit status for small companies. The Institute of Chartered Accountants and the Chartered Institute of Management Accountants suggest that small companies should be exempt. However, the Chartered Association of Certified Accountants believes small companies audit should be strengthened. Some accountants prefer a division between public and private companies.

United Kingdom, Accounting and auditing, Accounting firms, Accounting services

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