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Two for one on auditor consultation
A very interesting consultation into the regulation and oversight of foreign audit firms has begun. This comes from EU law, which could mean our very own dignified and esteemed Audit Inspection Unit sends out its officers to ‘inspect’ foreign auditors. Exciting, TS thinks.But before anything is said and/or done, the financial reporting council will lead a consultation to find out what everyone thinks about this.
But just a few days later, as TS was mulling over landing a job as a mysterious foreign inspector, the Department of Trade and Industry came up with its own consultation, on the very same issue!
All in a muddle, TS called up the said department, only to be told,
that it’s their responsibility anyway. So what consultation should TS
respond to? And which of the official bodies will win the battle to
respond to the EU heads on this?
TS had a brilliant idea of covering both bases by writing a response to
the DTI, photocopying it and sending it to the FRC. TS wonders if firms
and institutes will do the same.
TS does not fall asleep at most ICAEW council meetings
TS spent as dull an afternoon as is humanly possible last week at a meeting of the august members of the ICAEW council.
Many worthy measures were discussed (members still not getting the institute’s newsletter for example) and thoroughly debated. Until one council member dared to ask institute chief exec Michael Izza ‘what’s going on with the CCAB?’ The future of the committee of accounting bodies is of course up in the air, and TS was hoping for another juicy spat to relate to you. Ever the professional, however, Izza inquired as to whether ‘the press are in,’ and TS was summarily turfed out. If anyone wants to tell us what was said, the address is as follows takingstock@accountancyage.com.
Dr Grote, I presume?
TS wonders if Dr Byron Grote is trying to get a role in new James Bond film ‘FDs are forever’.
Your faithful newshound has been trying to pin down the mysterious Dr Grote on his plans for the future.
But the Blofeld of BP must have given his white cat another stroke and issued another Bond villain-esque cackle as he once again managed to avoid making a statement.
So TS took it as a small victory when BP’s PR machine said: ‘Don’t hold your breath,’ after another TS grilling on whether the Grotemeister would be heading off any time soon.
When he finally hands in his finance director spurs, which sounds like
a way off from TS’ reckoning, he may plan to make TS his personal
nemesis before launching a bid for world domination.
Still, it’s got to be better than spending his time on the golf course.
‘Live and let live,’ says TS.
Smoothies make a mess at PwC
On behalf of our friends in marketing, TS would like to offer our most humble apologies. Keen as ever to keep those who advertise with us happy, we decided to send out some smoothies to keep you sweet. Unfortunately, the smoothies appear to have been the exploding kind. Too much yeast in them, apparently.
PwC’s offices are said to have been something of a state last week, with mango and passion fruit splattered all over the firm’s walls.
TS remembers a similar incident at PwC when we went for lunch there a few years ago, but then one is a bit of a messy eater.
Not so smooth after all.
Sir Digby discovers joy of text
Sir Digby Jones is famous for many things. Forthrightness, bon viveur and an almost insatiable appetite for business.
So far however, his thumbs have gone unsung. But let TS enlighten you Sir Digby, a man of impeccable judgment (which he used liberally as an Accountancy Age Awards judge) is capable of sending up to 2,500 text messages in a month roughly 80 per day.
They come in their dozens and at any time of day, or apparently, night, an insider tells us.
TS can only wince at the thought of the repetitive strain injury in Sir
Digger’s thumbs. Mind you it should come as no surprise. In December’s
Mobile Magazine he wrote: ‘Businesses will never really be competitive
unless they push the potential for email, text and BlackBerry.’
No need to keep the industry alive on your own though, Sir Digby.
Sir Digby discovers joy of text
Sir Digby Jones is famous for many things. Forthrightness, bon viveur and an almost insatiable appetite for business.
So far however, his thumbs have gone unsung. But let TS enlighten you Sir Digby, a man of impeccable judgment (which he used liberally as an Accountancy Age Awards judge) is capable of sending up to 2,500 text messages in a month roughly 80 per day.
They come in their dozens and at any time of day, or apparently, night, an insider tells us.
TS can only wince at the thought of the repetitive strain injury in Sir
Digger’s thumbs. Mind you it should come as no surprise. In December’s
Mobile Magazine he wrote: ‘Businesses will never really be competitive
unless they push the potential for email, text and BlackBerry.’
No need to keep the industry alive on your own though, Sir Digby.
Sir Digby discovers joy of text
Sir Digby Jones is famous for many things. Forthrightness, bon viveur and an almost insatiable appetite for business.
So far however, his thumbs have gone unsung. But let TS enlighten you Sir Digby, a man of impeccable judgment (which he used liberally as an Accountancy Age Awards judge) is capable of sending up to 2,500 text messages in a month roughly 80 per day.
They come in their dozens and at any time of day, or apparently, night, an insider tells us.
TS can only wince at the thought of the repetitive strain injury in Sir
Digger’s thumbs. Mind you it should come as no surprise. In December’s
Mobile Magazine he wrote: ‘Businesses will never really be competitive
unless they push the potential for email, text and BlackBerry.’
No need to keep the industry alive on your own though, Sir Digby.
FRC's offices are full
TS has been intrigued for a while now by the hallowed offices of the FRC.
A few weeks ago, TS happened to be invited to said offices, after what some considered 'rude remarks' that the offices were full of nice furniture while staff were somewhat on the scarce side.
But lo and behold, the FRC's offices - far from the posh front meeting rooms - were full of busy people, seriously conferring over the rims of spectacles, surrounded by thousands and thousands of pages.
POB boss Paul George sat by his lonesome and dear AIDB counsel Cameron Scott was not to be seen - no doubt busy on another high-profile case gathering crucial evidence.
The kindly Jon Grant, who afforded the visit, didn't hold back on proving to TS that there were in fact people at the FRC, who worked as well.
Maslin's haircut (part III)
Readers will recall TS's in-depth coverage of the new, cutting-edge-of-fashion, spiked hairdo worn by Grant Thornton's Steve Maslin.
Well, TS caught up with the audit fashionista, who has also chucked the tie for a more casual, open-collared look, and discovered that the Maslin makeover has been causing quite a stir in GT headquarters. Maslin said his co-workers were almost more interested in his new style than the latest developments in the Oxera debate.
It also turns out that Maslin's hairdresser, the creator of the trendy look, had won two awards before going to work on Steve's locks.
What can we say Steve, TS has knows an award-winning style when it sees it.
Vanilla Ice sets off tax rap madness on youtube
It began, inevitably, with a corporate anthem (thank you, KPMG http://www.youtube.com/watch?v=iTqIN1ZJPAI), progressed via a group of ill-advised recently qualified accountants in Asia (stand up the Hong Kong 'tute of Chartered Accountants http://www.youtube.com/watch?v=xUcxvwAQ_n4) and now, we're sorry to report, has plumbed new depths through a US tax software company.
Yes, we're talking about popular culture's most unlikely bedfellows: accountancy and the music business.
We don't know what Turbo Tax we're thinking of when they hired dubious eighties rapper Vanilla Ice to front a YouTube-based competition to find America's best tax rapper. But we're glad they did. CONT.
The horrific result – 150 entries and counting, that's right 150 – can be seen at www.youtube.com/thetaxrap. The contest is to early to call but the early money has to be on radripz.
If you're misguided enough to submit an entry don't forget to let TS know and we'll treat it with all the respect and reverence it deserves.
Tax advisers ditch clients for CIoT shindig
To paraphrase one of TS' favourite publications, ' People with tax issues! Don't expect any help on a Friday!'
It seems that the great and the good of the tax world have all descended on some place called Manchester (must be somewhere outside London Underground Zone1) for a high powered summit staged by the CIoT today, so any urgent tax problems will have to hold for Monday.
TS humbly suggests that the first issue up for debate should have been: 'Case Study: How best to leave your clients without a leg to stand on for a whole day while schmoozing up North'.
There's also a whisper that the tax titans fled up the M6 to avoid coming into the Accountancy Age studios for an in-depth natter about Paul Gray's appointment as HMRC's head honcho – TS thought they were more scared of Dave Hartnett than Paul, but there you go.
