Article Abstract:
There have been mixed reactions to the UK government's ruling that public accounts will have to detail the assets, and their underlying liabilities, arising from Private Finance Initiative (PFI) deals. The Accounting Standards Board (ASB) has welcomed this development, but some observers believe that there could still be disagreements with the ASB over accounting treatment when the Treasury guidelines putting the changes in place are published. Questions have also been raised about the apparent lack of logic in the fact that the ruling will apply to new PFI schemes but not existing ones.
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Article Abstract:
All local authorities must make their accounts available for public inspection for 15 days when finalised, and this can sometimes lead to objections from local residents. If objections are raised, the process of completing the accounts can be delayed for a considerable length of time. Objections are investigated by the district auditor, who has a duty to protect the public interest.
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Article Abstract:
Some charities exploit their staff, according to recent research by the Manufacturing, Science and Finance union. Many staff are expected to adopt flexible working practices, with unpaid overtime being common. Staff are under great pressure as funding for voluntary organisations becomes harder to find, and this is being reflected in high levels of sickness.
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