Dilution threat to Company Law plans
Concerns are already growing that the recommendations on modernising the company law review may be diluted.
The result of a three-year process now has to endure the scrutiny of parliament and the public. It is feared this could result in a weaker company law than is currently being proposed by the steering group which led the consultation process.
Gerry Acher, KPMG partner and chairman of the ICAEW audit faculty, told AccountancyAge.com: ‘This is a major step forward. What I like is that the whole thing ties together. It is better than I thought.’
But Acher warned against the proposals being tampered with.
‘It is a package. We mustn’t allow people to unpick it,’ he said.
‘Now the skill is to preserve it in its entirety. It is not a shopping list,’ he said.