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Tax Research UK Blog is written by Richard Murphy unless otherwise stated and published by Tax Research LLP under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
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Probably We’re Careless
Professionally We’re C**p
Perhaps We Care!
PWC =
Practice
Without
Conscience
‘Sir’ and some letters denoting Knight, Commander, and a chivalric order.
Or, one might speculate, ‘The Noble and recently-elevated Lord’.
There is no prospect whatsoever that they will be called by number, rather than by name, by warders and the prison Governor.
Fear of losing business/commercial decision-making. or outright professional negligence/fraud?
Phwoar What a Corker, sorry my mind was elsewhere.
Were you looking at Googke Images of Theresa May ” disrobed” again ??
Do you mind Andy!
This is a family show!
Professional. Just doing the job his/her company demands. How can anyone doubt that the main purpose of an Accounting Company is to maximise the remuneration of its executives by fulfilling the desires of its clients? Anything else is just hogwash nowadays.
Richard you know that the ICAEW will do nothing
Or more likely have a lengthy investigation, release the results once everyone has forgotten about BHS and “penalise” PWC with a paltry fine of say £100000 that pales into insignificance when you consider the audit and other fees PWC will have drawn from BHS over the years
The system stinks
The system is rigged
So it has to be changed
The ICAEW always feared that it’s self policing system was taken away and handed over to some government body
If you remember Austin Mitchell MP now retired I believe was a fearce critic of the ICAEW and campaigned for it to lose its self policing system
I am very critical of the ICAEW’s self policing.
In practice I believe what it consists of is a monitoring system that criticises small practices like the one I used to run, and I had to endure several monitoring visits, but misses the large practises, who have great systems of which the ICAEW find no fault, it’s just that the audit opinions of these large practices were often wrong!
Maybe what we need us the establishment of a government structured audit authority to take over the regulation and discipline if audit firms.
Perhaps you me and Prem could take part?!
That would be fun….
Time to say goodbye to the FRC too