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.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned