‘This is something I will do as a representative for accountancy, working for and with the government. The government has asked me to help with Sarbanes-Oxley because they wanted continuity,’ he told Accountancy Age.
Wyman warned that, unless British and European negotiators get an exemption accepted by US watchdog the Securities and Exchange Commission before Christmas this year, UK accountants will have no choice but to comply with US regulations.’Six months from now, if we aren’t well on our way with developing a policy, we’ll be in trouble,’ he said.
Wyman added: ‘I want to see a package around mutual recognition, ideally on a pan-European basis, into the SEC – a set of principles everybody can understand and sign up to.’
Deloitte surveyed 124 CFOs and found that uncertainty levels are still high since the Brexit result.
HMRC has defeated a tax avoidance scheme used by Greene King and marketed by EY, protecting around £30m in tax.
Businesses will have to think more strategically about where they can source those non-audit services in the future
Powell, who recently stepped down as chairman and senior partner at PwC, is set to join FTSE 100 firm Capita