Although Prime Minister David Cameron has postponed his speech on Europe because of the Algeria hostage crisis, financial policy makers are getting nervous about being distanced from Brussels during crucial talks on reforming the audit industry across the member states.
Now that Germany’s Bundesbank has announced that it is to repatriate gold reserves held abroad to tighten control and combat currency crises in the future, the price of gold per ounce has started to rise and had climbed $14.50 to $1,682.60 by mid-morning yesterday.
Later this month the first Pitching for Management tour of 2013 will start at the University of Staffordshire in Stoke-on-Trent and will take place in a further 11 locations across the country between January and March.
With recent surveys revealing that small firms feel more optimistic about raising finance in 2013, those who have opted out of mandatory audits should think again, as investors need the confidence that a professional audit brings to financial statements.
Investment bank Citi has predicted that the Bank of England will maintain interest rates at 0.5 per cent until mid-2017 as the country fights to get back to economic health.
Figures from Experian revealed yesterday that 2012 was the most active year for mergers and acquisitions in terms of ‘mega deals’ since 2009, fuelled by a 15 per cent upturn in the number of very large transactions.
According to the Institute of Chartered Accountants in England and Wales (ICAEW), the audit profession is currently at a crossroads due to recent global financial turbulence and, of course changes in the audit rules in the UK.
According to the results of a recent survey, the average combined pension contributions by employers and employees to small organisations’ defined contribution (DC) pension schemes have remained the same since 2010.
The recent publication by the Audit Commission of its Striking a Balance report, which states that “reserves are an essential part of good financial management”, is a timely reminder to firms in the private sector that regular internal audits need to be undertaken to ensure that they maximise their own cash reserves.