The false economy

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The world’s oldest bank, Banca Monte dei Paschi di in Siena, is now battling to survive, after failing the ECB’s stress tests. EPA/Carlo Ferraro

EBA stress test needs to use tougher metrics when assessing banks’ solvency

The results of the long-awaited European Banking Association (EBA) “stress tests” show that 25 banks were found wanting. Altogether, the banks were about €25 billion short of the capital required to be…
In the balance. Tesco’s woes draw in its auditors as the shares plunge. Andy Rain/EPA

Trolley load of trouble in store for Tesco and its bean counters

The news that Tesco overstated its half-year profit guidance by £250m has sent the company’s share price tumbling – and poses serious questions about its auditing and corporate governance. The company…

New rules on banker bonuses are more bark than bite

The 2007-2008 banking crash ushered in an era of austerity and pay freezes, but bank executives have continued to enjoy disproportionate rewards even though their institutions have been bailed out by taxpayers…

Big accountancy firms have a human rights problem

Protest and dissent are the foundation stones of modern societies and have helped secure a measure of democracy and human rights. Against all the odds, ordinary people have struggled to secure universal…
Shell companies can still flourish in sunny tax havens. Gronkh

Don’t be misled by Vince Cable’s talk of corporate transparency

Business secretary Vince Cable has announced his intention to create a public register of UK company ownership in a bid to tackle tax evasion and money laundering by shady corporate bodies. But don’t believe…