“The public has every right to conclude that auditors who hold themselves out as independent will stand up to management and notsuccumb to pressure to avoid rocking the boat.”
Related Posts
Friday Footnotes: PwC Pays the Poors Less; Deloitte’s New Minis; BDO Brings on Audit Staff | 9.17.21
- Going Concern News Desk
- September 17, 2021
Malaysia says auditor KPMG to pay $80 million in 1MDB settlement [Reuters] Malaysia said on […]
Share this:
BUSTED: Which NYC Firm’s Former Partner Is Accused of Ripping Off $2 Million From Investors?
- Jason Bramwell
- October 10, 2018
A CPA and former partner-in-charge of advisory services at New York City-based Marks Paneth LLP […]
Share this:
This Man Hates Taxes More Than He Loves His Family
- Caleb Newquist
- February 9, 2010
Well, he doesn’t come right out and say that but actions speak louder than words, amiright?
This is Guy Hands, Founder, Chairman and Chief Investment Officer of Terra Firma a private equity firm with locations in London, Frankfurt, and Guernsey where he currently resides.
He moved there last April from Kent, a county in Southeast England, to “protest at higher income and capital gains tax rates,” and that “he has ‘never visited’ his school age children since he left the [the United Kingdom]. They have remained with his wife at their former family home in Kent and they now have to travel to Guernsey to see him.”
Guy “Father Knows Best” Hands also doesn’t visit his parents any more “and would not do so except in an emergency,” so he’s not much of a son either.
The devoted family man is an “‘outspoken’ critic of UK tax levels,” so this level of commitment to avoid paying taxes shouldn’t be a surprise. Non-resident tax status is at stake here; he won’t set foot in a UK airport even to transfer.
GH’s shrewd sensibilities were revealed in court papers last week as the venue for his dispute with Citigroup over Terra Firma’s purchase of music group EMI is being decided. If the proceedings are moved to London, Hands’ tax planning could be completely thwarted and — gasp — he might see his children in the UK (if time permits of course).
I save tax by never visiting my family, says tycoon Guy Hands [Guardian]