| Changing finance in changing times - Islamic finance and Irish tax |
Issue: 09 / 2007 |
| Brian Daly asks if it is time to seriously consider introducing tax rules to deal with Islamic financing products and to position ourselves at the forefront of the inevitable emergence of related products on the secondary financial markets? |
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| Credit crunch sees cost of funding soar |
Issue: 09 / 2007 |
| Cost of credit for Irish corporates continues to rise. |
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| Editorial |
Issue: 09 / 2007 |
| Comment from the editor |
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| Fee income of top 20 firms passes €1 billion |
Issue: 09 / 2007 |
| It was another year of strong growth as the top 20 accountancy firms in the Annual Finance Accountancy Survey surpassed fee income of €1 billion for the first time.
The top firms returned an annual growth rate of 19.6 per cent while none of the firms reported a drop in fee income. Deloitte, once again, is the most ‘efficient’ top accountancy firm, returning the most income per employee. |
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| Fee income soars as mid-tier firms shine |
Issue: 09 / 2007 |
| Fee income amongst the top Irish accountancy firms has increased by almost 20 per cent, according to this year’s annual FINANCE accountancy survey, with mid-tier firms posting an even higher growth rate of almost 30 per cent due to merger activity, which saw Baker Tilly Ryan Glennon become this year’s ‘fastest mover’. While skills shortages remain a massive problem for the profession, an additional 2,260 people are expected to be recruited over the coming year, and the industry is hopeful that the introduction of the Green Card system earlier this year will help. |
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| Financial reporting challenges for re/insurers |
Issue: 09 / 2007 |
| Challenges faced by insurance and reinsurance companies operating in Ireland in relation to changes in financial reporting, corporate governance and compliance, will be top of the agenda at a forthcoming Ernst & Young and The Insurance Institute of Ireland & The Institute of Chartered Accountants in Ireland conference. |
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| First performance review for NPRF |
Issue: 09 / 2007 |
| The National Pensions Reserve Fund (NPRF) is to undergo its first independent investment performance review. The fund, which was established in 2001 to supplement the current public pension system from 2025 until at least 2055, had grown to over E21 billion by the end of June, 2007, and latest figures show it grew by seven per cent in the first half of 2007. |
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| From the mouth of a dragon |
Issue: 09 / 2007 |
| As one of the ‘dragons’ on BBC’s hit business show ‘Dragon’s Den’, Australian Richard Farleigh has achieved fame on this side of the world as a ruthless ‘business angel’, always looking for a bigger share in the contestant’s company than entrepreneurs are willing to give. However, Farleigh is first and foremost a trader, having run a proprietary trading desk for Bankers Trust as well as a hedge fund in Bermuda. In his new book, ‘100 Secret Strategies for Successful Investing’, Farleigh shares the knowledge which enabled him to achieve such a level of success that he was able to retire by the age of 34. |
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| Fund managers beef up services |
Issue: 09 / 2007 |
| Against a background of volatility in global equity markets, the past month has seen increased activity in the Irish fund management sector. |
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| Global trends in corporate tax and VAT rates |
Issue: 09 / 2007 |
| This year’s KPMG Corporate and Indirect Tax Rate Survey provides evidence of the continuing downward trend in corporate tax rates worldwide. It also suggests that some governments may contemplate making up tax revenue shortfalls by increasing indirect taxes. |
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| Independent trustees to become the norm as trustees are put ‘on the spot’ |
Issue: 09 / 2007 |
| Now more than ever before good pension scheme governance is critical in terms of regulatory compliance, employee relations and market perception, writes Elma Fox, who expects independent trustees to become the norm in Ireland. |
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| Leveraged loan market sees massive repricing |
Issue: 09 / 2007 |
| The market wobble in the leveraged loan and high-yield markets that began in June, accelerated in July, and peaked in August is moving toward a full-blown market repricing, according to Standard & Poor’s (S&P). |
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| Midlands accountancy firm offers something different |
Issue: 09 / 2007 |
| Russel Brennan Keane (RBK) is the only accountancy firm outside of Dublin to feature in the top 10 firms in this year’s Accountancy Survey. With its midlands base, RBK is able to offer its employees a dynamic and competitive working environment in less congested surroundings outside the capital. |
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| People on the move with FinanceJobs.ie |
Issue: 09 / 2007 |
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| Severe risk aversion to lead to increased default rates |
Issue: 09 / 2007 |
| The knock-on effect of the sub-prime crisis in the US is being felt worldwide as a direct result of globalisation, says Daire Ferguson. He argues that the unrpecedented events of the current market upheaval – namely the distribution of risk throughout the market via financial innovation – could likely have further unforeseen effects on all areas of global economics. |
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