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9am Lowdown: Autumn Statement Day

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3rd Dec 2014
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Today's the day the Chancellor delivers the Autumn Statement - and while we have heard so many predictions and revelations already, the real proof will be in the pudding this afternoon.

Autumn Statement live blog

Make sure to tune in to our live blog at 12.30pm with panellists including Gabelle's Paula Tallon, Steve Checkley from TaxCalc and Jonathan Russell from ReesRussell.

* * * 

HP accounting differences not fraud?

Autonomy founder Mike Lynch has accused HP of misrepresenting its $8.8bn writedown on its acquisition of the British software company.

He references a document he says shows it uncovered differences in accounting standards, not the fraud that was alleged and would hand these to the SEC, the Telegraph reports.

* * * 

UK government to pay back WW1 debt 

It may sound a little late in the day, but according to another story on the Telegraph, 100 years after it was first issues, the government have agreed to repay their debt.

In October, the government said that it would redeem £218m of so-called "4pc Consols" - bonds that were first issued by then Chancellor Winston Churchill in 1927, partly to refinance National War Bonds originating from the First World War.

* * *

Directors suspected of wrongdoing in third of insolvencies

Nearly a third of insolvencies investigated by the Insolvency Service in the year to March included suspicions of wrongdoing by directors.

As reported in The Telegraph, the IS has identified more cases of suspected wrongdoing over the past three years and started proceedings to disqualify hundreds more as directors.

Mike Finch, partner at accounting firm Moore Stephens, told the paper: “It is important that the funding is there to allow the Insolvency Service to pursue these cases, as disqualifying rogue directors acts as a crucial deterrent and is vital to ensuring a fair deal for creditors in an insolvency.”

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By moneymanager
04th Dec 2014 17:35

No surprise, what a disapointment

'Nearly a third of insolvencies investigated by the Insolvency Service in the year to March included suspicions of wrongdoing by directors".

I miss read the above and became too hastily excited as:

Nearly a third of insolvencies investigated by the Insolvency Service in the year to March included suspicions of wrongdoing by the insolvency practitioner (especially where they were from one of the Big Four.

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