The speech included reference to the draft company law reform bill, which is designed to make it easier for start-up companies, and will include the long-delayed recommendations of the independent Company Law Review.
A DTI spokeswoman said that the bill would still make a suitable legislative vehicle for proportionate liability ‘should a consensus be reached on the issue’.
Auditors are hopeful that the government will make a positive announcement on the liability issue early in the New Year.
The only stumbling block is the likelihood of a General Election in the summer, which, when called, would kill any bills going through parliament. Should this occur, a more finalised version of the bill would appear after the election, if Labour is returned to power.
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester