The Pin-stripe Mafia: How Accountancy Firms Destroy Societies

The Pin-stripe Mafia (SBN 978-1-902384-12-2, Published in 2011) is now available from:

Association for Accountancy & Business Affairs
P.O. Box 5874
Essex SS16 5FR, UK.

Price £8.95 (UK post free); European Union (add £1.61 postage); Rest of the world  (add £2.32 postage); Elecctronic copies - Worldwide £8.95 (contact

(AABA Website)
A new monograph authored by Austin Mitchell and Prem has been released on 10th October 2011.

 "The Pinstripe Mafia" (ISBN
978-1-902384-12-2) takes the lid off the corrupt practices of major accountancy firms that are impoverishing nations, undermining governments and condemning millions of people to misery. The monograph notes 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, PricewaterhouseCoopers, KPMG and Ernst & Young. They employ thousands of individuals for the sole purpose of undermining tax laws which does not create any social value, but enables corporations and wealthy elites to dodge corporate tax, income tax, National Insurance Contributions (NIC), Value Added Tax (VAT) and anything else that might enable governments to improve the quality of life.

The loss of tax revenues is a major cause of the current economic crisis that is inflicting misery on millions of people. Tax avoidance is part of the guerrilla warfare conducted by accountancy firms against the people. Each year, about 30%-40% of the financial legislation outlaws tax dodges dreamt up by accountancy firms. The UK tax tribunals and courts hear around 11,000 cases and many of these relate to dodges that have no economic substance. The UK is estimated to be losing around £100 billion of tax revenues each year and a large part of this is due to the activities of the Big Four accountancy firms. Despite record number of millionaires, billionaires and levels of corporate profitability, the UK tax take in 2010-11 added up to 37.2% of the GDP, compared to 43% in 1976. Rather than challenging the tax avoidance industry successive governments have shifted the tax burden to less mobile capital, labour, consumption and savings, as evidenced by higher NIC and VAT and the lowering of thresholds for higher rates of income tax.

In the US, some accountancy firms have been fined for facilitating tax evasion and their partners have been sent to prison. They have paid large amounts to settle allegations of bribery and corruption. Other countries have fined them for operating price-fixing cartels. There is little retribution in the UK. Despite judges outlawing their tax dodges, successive governments have failed to investigate the firms, or prosecute their partners. Instead, the partners of major accountancy firms are given peerages, knighthoods, public accolades and government consultancies, all funded by taxpayers. The same firms have colonised regulatory bodies, fund political parties and provide jobs for former and potential ministers. This penetration of the state has bought them political insurance and their
anti-social practices continue to inflict enormous social damage".

The Pin-stripe Mafia is now available from:

                    Association for Accountancy & Business Affairs
P.O. Box 5874
Essex SS16 5FR, UK.

Price £8.95 (UK post free)
European Union (add £1.61 postage)
Rest of the world  (add £2.32 postage)
Elecctronic copies - Worldwide £8.95

ISBN 978-1-902384-12-2

Published in 2011