10 things we learnt this week: 22 April 2016

Canberra CA Today
By Andrew Harbison, CA Today

22 April 2016

A round-up of the recent top content you may have missed from CA Today.

1. Scotland's main political parties disagree on tax

ICAS played host to the Big Scottish Election Debate at the Sheraton Grand Hotel in Edinburgh on Wednesday. With Scotland gaining new tax powers after the May 5 election, representatives from the SNP, Scottish Green Party, Scottish Conservatives, Scottish Liberal Democrats and Scottish Labour clashed on how these powers should be used to ensure the best possible future for Scotland.

[CA Today]

2. Cash could be made obsolete in 10 years

Contactless payments made through mobile devices could replace the need for UK currency by 2025, according to a new report by Co-operative Food. The report claims that contactless payments have tripled in Co-op Food stores over the past year and the trend is likely to continue.

[CA Today]

3. The Panama papers - time to reconsider taxpayer confidentiality?

Donald Drysdale considered whether the Panama papers leak will change attitudes towards taxpayer confidentiality. The leak might not only lead to new requirements for senior politicians to publish their personal tax returns, but perhaps even a fundamental review of the longstanding principle of taxpayer confidentiality as it affects all taxpayers, he said.

[ICAS Technical - Tax]

4. The One Young CA judging panel was announced

The judging panel for this year's One Young CA 2016 competition was announced this week. The 13 judges represent a rich cross section of industry and business professionals. They will be looking for the top 35 CAs under 35 across the four key areas of entrepreneurship, leadership, sustainability and CSR, and influence and innovation.

[CA Today]

5. Unemployment in the UK rose

For the first time in seven months the unemployment rate in the UK has risen. Figures released from the Office for National Statistics show that between February this year, unemployment jumped up by 21,000, bring total UK unemployment to 1.7 million.

[CA Today]

6. And the most reputable company in the UK is...

Only two home market UK companies managed to make it into the top 10 of the Reputation Institute's UK RepTrak 150 list of the most reputable companies in Britain. Even more worrying was that out of the 27 companies to receive a 'poor' rating, 25 of them are UK and Irish.

[CA Today]

7. 10 ways you can be more productive at work

From regular exercise to a tidy work space, our list of 10 top tips will help you achieve your productivity dreams.

[CA Today]

8. Return to work scheme launched by EY

EY has joined PwC and Deloitte in providing a return to work programme aimed at professionals who have taken a career break of two to 10 years. 'EY Reconnect' will provide training and mentoring for applicants who are of managerial or higher experience.

[CA Today]

9. Target accounting scandal in the crosshairs

The Australian discount store Target has not only suffered a 70% drop in earnings, it has now been involved in an accounting scandal which could have broad implications for the industry as a whole. Having inflated its earnings by 40%, questions will be raised over the effectiveness of current Australian legislation.

[CA Today]

10. The FRC invited feedback on FRS 102

The Financial Reporting Council invited stakeholders to comment on their experiences on implementing new UK and Ireland accounting standards. The feedback will help the FRC develop and improve accounting standards across the UK and Ireland.

[ICAS Technical]


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