THE government is considering whether it should propose changes to the legislation governing bonding arrangements for insolvency practitioners.
Insolvency practitioners are required by law to take out a bond to provide appropriate levels of security to cover any losses as a result of fraud or dishonesty on their part.
The Insolvency Service said it has issued a call for evidence after stakeholder said that the current arrangements are inflexible and prescriptive and fail to protect creditors.
The call for evidence considers:
- how the current bonding system works
- the weaknesses with the current bonding system
- what similar system operates in other professions
- potential non-legislative and regulatory changes
- potential options for legislative change
The ACCA has announced a regular Global Forum focussing on education
ACCA and Morison KSi have signed a global Memorandum of Understanding (MOU) to raise accountancy profession standards
Laurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Making Tax Digital plans
Wilkins Kennedy's damaging damages payout; RSM Tenon complaints and fine; and KPMG cuts partner payouts - on the latest Friday Afternoon Live