In a written statement to the house, secretary of state for trade, Patricia Hewitt, said: ‘I have considered carefully whether there is a case for a change in the law on auditor liability.’
‘In the light of the consultation responses, and the OFT’s advice that introducing a cap would not significantly enhance competition, I have concluded against proposing changes to the law on this.’
Peter Wyman, senior partner at PricewaterhouseCoopers, said it was what the profession was expecting but it is ‘looking very favourable at early reform to permit proportionality by contract if we can demonstrate that there is support in the investor and business community’.
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'