Published Articles

From January 2005 the International Financial Reporting Standards become compulsory for EU listed companies. The objective is for the accounting practices of listed companies across the EU to be harmonised. The RICS has issued a Guide to the effects of the new International Financial Reporting Standards on the Property Industry, which explains how the new rules will apply to the accounting treatment of properties owned by affected companies, and how the reporting of property assets on the balance sheet will be affected.

The Guidance is available from the RICS website.

As announced in last year's Budget, HM Customs and Excise and the Inland Revenue are to merge to create a single new organisation called HM Revenue and Customs (HMRC).

Conservation areas are areas of special architectural or historic interest which
it is desired to protect, enhance or preserve. There are over 600 conservation
areas in Scotland. The Scottish Executive has now published planning guidance
of particular relevance for local authorities, but also relevant to developers,
community organisations and property owners, on the management of conservation
areas. Planning Advice Note 71 (PAN 71) complements existing national policy
and contains advice on good practice for managing change in conservation areas,

City high-flyer Stephanie Villalba has lost her £7.5 million claim of sex discrimination brought against US financial institution Merrill Lynch. Ms Villalba, who had worked at the bank for 17 years, claimed unfair dismissal, victimisation, sex discrimination and unequal pay. The tribunal heard evidence of Ms Villalba's claim that she was "bullied and belittled" and that her boss made "humiliating" comments behind her back. She also complained of being asked to serve the drinks and sit in a stewardess's seat on a corporate flight with male colleagues.