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Lowdown
AccountingWEB

9am Lowdown: PwC and Vodafone, FRC & Norway

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28th Jul 2017
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Good morning and welcome to Friday’s 9am Lowdown.  

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What’s in the news

PwC is facing fresh questions over its independence after a powerful shareholder adviser warned of a possible conflict of interest in its relationship with Vodafone, reports Sky News.

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BT has reported more than 40% drop in profit for the three months to 30 June, following the overseas accounting scandal and regulatory changes to its Openreach business. (City A.M)

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Accounting firms are still not always challenging properly what they are told by companies whose books they check, according to the FRC. (Reuters)

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Across the pond, Donald Trump’s chief strategist Steve Bannon wants Americans earning more than $5m a year to face a 44% tax rate. (The Telegraph)

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Republican lawmakers have set aside plans for a controversial border-adjusted tax in hopes of smoothing the way for comprehensive tax overhaul. (Financial Times)

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Norway is considers a tourist tax to deal with its growing popularity, spurred on in part by the popularity of Disney’s 2013 smash hit Frozen. (The local)

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New on AccountingWEB

As Google becomes the first port of call for some clients when they need answers to tax queries, Richard Hattersley explores how accountants can remain relevant.

Neil Warren wonders how HMRC did not spot that a company which was trading ten times over the VAT registration threshold was not registered for VAT.

 

The Any Answers question of the day comes from Joe Alderson who wants to know if anyone has managed to fast tract HMRC’s process of scanning and processing a paper return.

Elsewhere, AccountingWEB columnist Philip Fisher suggests art as being a viable alternative to the bank.  

Meanwhile, AccountancyManager has launched a development poll on its Industry update page. The poll allows AccountingWEB members to vote on what development request the practice management software company should prioritise. 

 

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