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Every article from your latest print edition of CA Magazine

December 2009

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Bonus debate hides real dilemma

Arguing over City pay schemes is just a way to avoid having to answer tougher questions about the Government’s strategy for banking

Recognition for ICAS course

Diploma in Investment Accounting recognised at Innovators Awards

The horse that bolted

With its recently announced measures to control mortgage lending, the Financial Services Authority model may risk stifling flexibility

A time for giving

Douglas Nisbet explains why the work of the Scottish Chartered Accountants’ Benevolent Association (SCABA) is still so important in today’s world

OFT to investigate insolvency concerns

The Office of Fair Trading (OFT) has launched a market study into the corporate insolvency market, amid claims that certain groups of creditors are being charged too much and that recovery rates are too low

E&Y partner earns award accolade

Ernst & Young partner Annie Graham has been recognised as one of the UK’s leading business women, scooping a top accolade at the 2009 Women on The Future awards

Christmas boom

In the run-up to Christmas, shoppers will spend as much this season as last year, despite the UK remaining in recession, according to a report by Deloitte

Top rate of tax is driving entrepreneurs out of the country

A fifth of entrepreneurs earning more than £150,000 are planning to flee Britain in search of countries with more favourable tax rates, according to research from Tenon

Henderson Loggie in Aberdeen expansion

Mid-tier Scottish firm Henderson Loggie has announced the takeover of Aberdeen-based Charles Edmond, allowing the Dundee-headquartered firm to increase its share of Aberdeen’s commercial market

FRC urges caution on audit arrangements

The Financial Reporting Council (FRC) has urged caution if companies are considering taking on internal/external audit arrangement which are being investigated by ethical standard setters

Business travel

Low-cost airline bmibaby is restructuring its operations to focus on the routes with greater prospects for growth

Ready for the next crash

Argument over the reform of the banking system now centres not only on how to repair the damage caused by the most recent banking crisis, but how to prevent the next one

Letters: Integrity not an optional extra

John Russell’s letter in the September edition won the whisky

A fair point

Leaders of organisations must be able to create the right environment for employees and articulate the direction of the business

Round table: Back to the future

Over-optimism marked the forecast for 2009. In 2010, deal flow recovery is expected to be long and slow

Waiting game

Potential vendors are waiting for a recovery, potential acquirers are waiting for the bottom of the market and, as Ian Fraser reports, corporate finance professionals are waiting for dealflow to pick up

Who's who in corporate finance 2009

Download a complete list of the accountants, lawyers and others involved in corporate finance

Party on

The Christmas shindig may be under threat in the recession, but could sacrificing it do more harm than good?

Sharpen your skills

It’s over three years since the current ICAS continuing professional development scheme went live, and the Institute continues to be as committed as ever to engaging with its members on the scheme’s delivery and continuous improvement

New Year marks return of VAT standard rate

Barring any last-minute Government U-turn, the standard rate of VAT will return to 17.5 per cent on 1 January 2010

Radical action required to reduce Government debt

Whoever wins the next election will face some very tough decisions if the UK is to reduce its Government debt and protect its triple A credit rating, claims the National Institute of Economic and Social Research (NIESR) in a new report

Tax savings for businesses that donate money to charities

The Minister of the Cabinet Office, the Olympics and London and Paymaster General, Tessa Jowell, recently unveiled a document promoting tax incentives on offer to businesses that donate money to charities

Capital allowances

New ‘green’ tax rules have had a major impact on many medium-sized car hire businesses

Dramatic change of view on recovery of VAT

The Tribunal appeal case of Garsington Opera has prompted a change of view by HMRC about the recovery of VAT on the costs of staging shows

AADB finalises changes to its Accountancy Scheme

The Accountancy and Actuarial Discipline Board, a part of the Financial Reporting Council (FRC), has published a feedback statement on the changes being made to its Accountancy Scheme

First phase of reform for financial instruments

The International Accounting Standards Board has issued a new International Financial Reporting Standard on the classification and measurement of financial assets

AIU inspection reports published

The Professional Oversight Board, part of the Financial Reporting Council, has published reports on the Audit Inspection Unit’s (AIU) inspections for 2008/9 in respect of the following four audit firms

Companies House requirements: clarification

In November, we reported on the changes being introduced by the new Registrar’s Rules which came into force for accounts lodged after 1 October 2009

FRC advises caution on audit boundary

The FRC has written to the larger audit firms to advise them of steps it intends to take to review the provision of “additional services” by auditors

BAS publishes consultation paper on actuarial information for accounts

The Board for Actuarial Standards (the BAS) has published a consultation paper setting out proposals for a technical actuarial standard on actuarial information used for accounts and other financial documents

Pensions Regulator investigation finds mixed standards in DC pre-retirement literature

Good practice in the provision of pre-retirement literature in DC trust-based schemes is the focus of a report published by The Pensions Regulator (TPR)

Promoting Choice in the UK Audit Market

The Financial Reporting Council (FRC) has published its Fourth Progress Report on the implementation of the recommendations of the Market Participants Group (MPG) and other relevant developments

Guidance on complex finance

APB has issued an update of Practice Note (PN) 23 providing guidance for auditors on “Auditing Complex Financial Instruments”

Accounting for rights issues

The Accounting Standards Board is proposing an amendment to FRS 25 (IAS 32) Financial Instruments: Presentation

Remedying the remedies

Public sector contracts can be worth a great deal and now unsuccessful bidders can seek new remedies if they feel the bidding process has not been fair

Weighing it up

How will recent changes to guidance on valuations for private equity firms affect the industry and the value of their investments?

Nirvana or nightmare?

Graham McGregor looks at the key issues to consider about the “integrated assurance” concept, and argues that some of the myths need to be dispelled

Call for research volunteers

Research projects can involve a number of different methods of data collection including questionnaires and interviews. Undertaking research is time-consuming and often academics use research assistants to help

Delay of endorsement will leave Europe disadvantaged

ICAS has condemned the European Commission decision to delay its endorsement of the revised standard on accounting for financial instruments from the International Accounting Standards Board (IASB)

Clearer guidance for ICAS members

ICAS has long been a champion of simpler principlesbased regulation. Now, an exciting new project is under way to apply the same approach to the Institute’s regulatory material, which is aimed at assisting members to uphold standards

What's the role of tax in foreign direct investment?

The Scottish Accountancy Trust for Education and Research and ICAS is currently supporting a small research project on the role of tax in foreign direct investment (FDI) decision making

Innovation award for a new diploma in investment accounting

Scottish Investment Operations (SIO), which has brought a new diploma in investment accounting to the financial services market in partnership with ICAS and the Chartered Institute of Bankers Scotland (CIOBS), won the Innovation in Education and Skills award at the Scottish Financial Enterprise Innovators’ awards on 29 October

Obituary: In memoriam

Alexander Stewart Clark, Myra MacGregor and W A (Bill) Brown

Tale of the riverbank

Getting staff involved in corporate social responsibility activities can be a messy, but rewarding business