AAT Comment: Changing the image of accountancy
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Negative headlines are yet again making a dent in our reputation.
What can we do to restore the public’s confidence in the profession?
PR-wise, 2017 wasn’t a good year for the Big Four. Who can forget PwC making a shambles of the Oscars ceremony?
More seriously, the year was punctuated with announcements of the FRC launching regulatory investigations over audits at BT, Rolls-Royce, Mitie Group and so on. Then, the Paradise Papers scandal broke in November, exposing the Big Four’s widespread use of offshore avoidance structures to help some of the world’s largest businesses and the rich minimise their tax bills.
Mark Taylor, director at accountancy firm Duncan & Toplis, says: “It went further than simply highlighting the activity. As the important distinction between illicit tax evasion and legitimate tax avoidance became blurred, people began to question the morality of such schemes.”
What can we do to restore the public’s confidence in the profession?
PR-wise, 2017 wasn’t a good year for the Big Four. Who can forget PwC making a shambles of the Oscars ceremony?
More seriously, the year was punctuated with announcements of the FRC launching regulatory investigations over audits at BT, Rolls-Royce, Mitie Group and so on. Then, the Paradise Papers scandal broke in November, exposing the Big Four’s widespread use of offshore avoidance structures to help some of the world’s largest businesses and the rich minimise their tax bills.
Mark Taylor, director at accountancy firm Duncan & Toplis, says: “It went further than simply highlighting the activity. As the important distinction between illicit tax evasion and legitimate tax avoidance became blurred, people began to question the morality of such schemes.”
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