FSA/Northern Rock

The FSA's report into its supervision of Northern Rock is now completed. Selected sections are available on the FSA website, including the executive summary and recommendations sections. The full report will be available before the end of April once commercial and confidential material has been removed.

New journals received

At the end of last week a couple of new journals came in which might be of interest. The new issue of Company Reporting arrived which aims at 'improving standards in financial reporting practice'. Issues looked at by examining companies annual reports are the distinctions between debt and equity; giving a distribution to shareholders which is not a dividend; classification of listed investments; directors remuneration; pension scheme changes; and, financial disclosure on environmental issues. The new issue of Recovery, prodeuced by R3, the Association of Business Recovery Professionals, also arrived. It has articles relating to administration and insolvency in the leisure industry. It also has a supplement on careers and professional development.

There is an op-ed article by Sir David Tweedie, Chairman of the International Accounting Standards Board in today's FT called "Solutions now sought to add transparency". In it he talks about the new IASB discussion paper "Reducing Complexity in Reporting Financial Instruments" which was published yesterday on the IASB website. It is open for comments for 6 months and the website gives details on how to comment.

New journals received

There haven't been many new journals received by the Information Service this week. The Economist has a 10 page special feature on the current crisis on Wall Street and Bear Stearns. Times Higher Education has a piece on research funding increasing in Scottish universities and People Management has a number of interesting articles including one one on the Internet being used to criticise companies; one on new employment legislation; and, one on workplace coaching.
Please contact us to find out more about any of the journals or the other stock we hold.

FRC and annual reports

There is an interesting letter in today's Financial Times (13 March) from Paul Boyle, Chief Executive of the Financial Reporting Standards. About the complexity and relevance of annual reports and the FRC's forthcoming review of opportunities to address these concerns.

Journals received

Two journals were received today with articles that might be of interest. Firstly, Times Higher Education has a survey of salaries for lecturers in Universities across the UK. Secondly, the new issues of PASS magazine has articles on and for students in their CA training. It looks at general issues as well as having updates on ACCA, CIMA, CIPFA, ICAEW and ICAS. There are interesting articles on study leave for students, CIPFA's e-learning policy and the best food to eat to pass your exams!

These and other journals are available in the Information Service. Email us for more information.

2008 Budget

The full text of the Chancellor's speech is available on the Treasury website now along with the report in full and press releases. A useful summary is available on the BBC website.

Journals received

Two journals with interesting articles have come in today - Insider which has pieces on security for business (both personal and data) and management education at Scottish universities. It also has an interview with Willie Watt of Martin Currie. ACCA's magazine Accounting & Business also has a number of interesting pieces including one on the principles vs rules debate; financial contributions to the US presidential campaigns; corruption in East Africa and Norway's new legislation which requires 40% of company board representatives to be women.

These journals and others are available from the Information Service. Please contact us for more information.

Findings from the Holyrood Allowances Review

The Holyrood Allowances Review was published today. The Panel, which includes ICAS President Isobel Sharp, was appointed to carry out a full scale review of parliamentary allowances for MSPs. The panel brought together expertise from the public and private sectors, with an emphasis on experience in finance, accountancy and corporate governance. Further details are available on the website for the Parliamentary Allowances Review website

According to a BBC story the findings include:

• The practice where MSPs can claim back interest on the mortgages should end
• The interest payments should be phased out over the life of the current parliament
• MSPs should also have to declare their employment of close family members on a register
• Overnight expenses rate in relation to UK parliamentary duties should be set at £128 and £150 for London

Budget 2008

At 12.30 on Wednesday 12 March the Chancellor Alistair Darling will make his Budget speech to the House of Commons.

The information will be available on a number of websites including the HM Treasury site which also has an archive of previous budgets going back to 1998. Information will also be available on the HMRC site.

Several of the newspapers and other news sources also have mini-sites giving information and commentary including the Financial Times , The Times , and the BBC.

New journals received

The March issue of Accountancy magazine arrived today and has a number of interesting articles including the annual 'old boys' survey which looks at which of the Big 4 firms the Finance Directors in the FTSE 100 have worked for. PwC has the most 'old boys', followed by Deloitte, KPMG and E&Y. There are also a smaller number of FDs who qualified in industry rather than practice and some non-accountants who are FDs. The cover feature in this month's issue of Accountancy is an interesting piece on how the music industry is evolving in the digital age.

Other journals which were received today include Tax Adviser, Accountancy SA from the South African Institute of Chartered Accountants, A Plus from the Hong Kong Institute and The Treasurer.

A current awareness bulletin will be available at the end of the week with more details.

If you would like more information about these journals or any others that we hold, or would like to order a copy of any of these articles (photocopying costs apply) please email us and we'll be glad to help.