The false economy

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But who will audit the auditors? LendingMemo.com

Big auditors must be made accountable to the public

What should we do with producers who routinely deliver faulty goods and services? Producers of cars, food, medicines, aeroplanes and even financial products are forced to compensate injured parties, recall…
Road signs in Iceland.

Hamstrung SFO not capable of holding bankers to account

Iceland has sent four former directors of its bank Kaupthing to prison for fraud. But the chances of similar legal action happening in the UK are low, where fraud investigators have a poor record. The…
Gloomy times for BB&T bank, as it misses out on $660m in tax credits. zen Sutherland

Barclays and KPMG involved in $660m tax ‘sham structure’

What are the chances that in the face of public criticisms, big business would curb its tax avoidance practices? Well, not much, as evidenced by a case decided by the US Court of Federal Claims. Salem…
PA.

Prince Charles must go public with tax dealings

The UK House of Commons Public Accounts Committee is examining some of the financial affairs of Prince Charles, heir to the British throne. The Committee should be concerned that the Duchy of Cornwall…
PA.

G8 summit: High on vague promises, low on delivery

The G8 summit in Lough Erne was preceded by much hype and promises about action on tax avoidance and corporate secrecy, but it has delivered little. The leaders’ communiqué commits governments to nothing…