Iveco: one company, many laws
Article Abstract:
Commercial vehicle manufacturer Iveco BV is a highly centralized organization. The firm, an autonomous subsidiary of Fiat SpA, operates in Italy, Germany, France, Spain and the UK, but it follows a single policy. For instance, no factory can manufacture more units than what is allowed by the Turin office. For such a highly centralized company, it has been very difficult to operate in Europe where various national company and tax laws have yet to be harmonized. Iveco is forced to maintain separate legal entities in every European country in which it operates and is prevented from trading as one entity with a single board of directors. Nonetheless, the firm continues to strive for harmonization within its organization by providing its multi-cultural members with common systems, language and experience.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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In pursuit of the unfudgeable
Article Abstract:
The Accounting Standards Board advocates the principle of unfudgeability through usage of a set standards in accounting to prevent the manipulation of accounts. Although this practice may promote reliability and comparability, it may come at the expense of the relevance of the accounting information. This risk exists because of the fact that the principle of unfudgeability avoids representation of fundamental realities in published accounts. Therefore, a careful study of these figures, a necessity in view of these complex realities, is not possible. Thus, a true and fair estimate may not be achieved if the goal is to reach an unfudgeable figure.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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Article Abstract:
Proposed plans for auditor independence have resulted in two reviews of the situation in 2000. The reports are described with emphasis on their key issues such as compliance.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2000
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