Top 10 Accounting Headlines from Europe In R (on the application of Prudential plc and another) v Special Commissioner of Income Tax and another an English court has held that legal advice privilege does not extend to cover advice about law (e.g. tax law) given by accountants. Since November 2008 when the Securities and Exchange Commission (“SEC”) issued a proposed roadmap for the mandatory adoption of International Financial Reporting Standards (“IFRS”) for public companies, there has been a significant level of speculation regarding the future of the US accounting framework. There is much diversity in accounting for extractive industries under International Financial Reporting Standards (IFRS). The primary tax concerns for property owners include income tax, loss relief, CGT and deductible expenses. The Financial Reporting Council ("FRC") is revising its guidance on going concern. The key theme through this newsletter is one of planning ahead. We cover a range of different issues of critical importance to the future of registered providers of social housing (RPs), all of which will require investment of time by management to ensure that potential adverse consequences are minimised. With the global credit crunch and the ensuing contraction in international trade, many container terminal operators are seeing a dramatic decline in volume and revenue figures. Welcome to the September 2009 edition of Banking and Capital Markets Insight, which focuses on technical issues currently coming out of the banking, capital markets, securities and fund management arenas. The World Economic Forum’s Consumer Industries community is pleased to present this report as part of the Sustainability for Tomorrow’s Consumer initiative. The latest decision in the administration of the UK arm of Lehman Brothers ("LBIE") was handed down in late August. The Chancery Division ruled that the court did not have the necessary jurisdiction to sanction the scheme of arrangement which the administrators had proposed for the return of trust assets. | 
