Web www.software-risk.co.uk

Audit income has surpassed tax business income in Deloittes UK finances for the first time since 2002.

In total, annual revenue was up 9% at £1.4bn. Audit contributed 31% compared to tax's 295.

Regulatory changes have probably had a big effect on the company. The UK Treasury has increased attention on tax avoidance schemes. Thus restricting the market for tax advice.

The upside has come from the increase in audit requirements from such legislation as the U.S. Sarbanes-Oxley Act. European and UK companies are preparing to comply with the requirments of the infamous act.

The changed fortunes mirror moves in the US, where accountants have been barred from selling aggressive tax shelters to their audit clients.

Related Articles
SEC Proposes Years Exemption on 404
Sarbanes-Oxley Event Manhattan
Tighter Sarbanes-Oxley Called For
Sarbanes-Oxley in the News
NCH and SAS 70 Type II
Japan Eyes U.S. Penalties
Avocent Sarbanes-Oxley and CRM
Marketron SAS-70 Audit

Similar Areas

Sarbanes-Oxley Items

Finance Items

Accounting Items

Tax Items

Regulation Items

Selected Books

Keywords

Audit

auditing

Deloitte & Touche

auditor

auditing

audit income

tax

tax advice

auditing and tax

Sarbanes-Oxley and auditing

Sarbanes-Oxley and accountants

Sarbanes-Oxley and foreign companies