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The Pin-Stripe mafia

17 October 2011

New report from Prem Sikka and Austin Mitchell MP

The latest report from the Association for Accountancy & Business Affairs claims that all over the world tax revenues are under relentless attack from a highly organised tax avoidance industry dominated by four accountancy firms: Deloitte & Touche, PwC, KPMG, and Ernst & Young. They claim no government or country is safe from the practices of the major accountancy firms. “They camouflage their practices by claims of ethical codes and publication of glossy corporate social responsibility reports, but are busy devising ingenious schemes to attack direct and indirect tax revenues.” Sikka and Mitchell also believe that the Big 4 have ‘captured the state’, which enables them to advance their financial interests. The next few months will see just how successful they have been in that capture.

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