Governance
Clarkson and Barclays boss hit by ID theft
Outspoken television presenter Jeremy Clarkson and Barclays Bank chairman Marcus Agius have both lost money through identity fraud.
 
Insurers’ stance on auditor liability criticised
The insurers' decision to issue a "red top" alert against firms that agree a fixed financial cap for their auditor's liability could restrict mid-tier audit firms in their ability to compete.
 
Volkswagen boss denies slush fund knowledge
The former chief executive of Europe’s largest car manufacturer Volkswagen has denied any knowledge of a system of perks and prostitutes set up to bribe key workers and union reps.
 
Only half of TMT firms disclose data losses
Technology, Media and Telecommunications (TMT) businesses must increase their security efforts and investments to keep up with threats, according to a global security report by Deloitte.
 
Business couples warned of landmark divorce case
An ex-wife’s court battle could have implications for the many thousands of people whose former partners are made bankrupt.
 
European Commission blocks Mastercard fees
The European Commission has decided that MasterCard's multilateral interchange fees (MIF) for cross-border payment card transactions violate EC Treaty rules on restrictive business practices.
 
ICAEW launches financial reporting faculty
The Institute of Chartered Accountants in England and Wales (ICAEW) has launched a new financial reporting faculty in response to fundamental changes in the financial reporting environment.
 
Tough year ahead for financial reporting
The Financial Reporting Council (FRC) believes that the risks to confidence in corporate reporting and governance are higher than they have been for some years.
 
FSA fines Norwich Union £1.26m over data losses
The Financial Services Authority (FSA) has fined Norwich Union Life £1.26 million for not having effective systems and controls in place to protect customers' confidential information.
 
FSA bans former insurance broker boss
The Financial Services Authority (FSA) has banned a former chief executive of Insure & Go Insurance Services Limited for attempting to mislead the watchdog.
 
Companies Act timetable announced
Competitiveness Minister Stephen Timms has set out the final timetable for the implementation of the Companies Act.
 
FSA reputation damaged after Northern Rock
Seven out of ten institutional investors in the City say they have ‘less’ or ‘absolutely no’ confidence in the Financial Services Authority (FSA) after the Northern Rock fiasco.
 
Annual reports longer and more uniform
The inclusion of Key Performance Indicators (KPIs) in annual reports has increased from 67 per cent in 2006 to 81 per cent.
 
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