Opinion – Disclosure for protection.

But particularly for the bigger firms – which have to ensure listed companies do disclose the equivalent information themselves – the lack of reciprocation is something that sticks in the craw of many mandarins, MPs and media commentators alike.

And that why the new Limited Liability Partnership Bill – which takes effect next week – offers a perfect opportunity for accountancy to demonstrate to outsiders that it is a transparent profession. The corporate-partnership hybrid that is LLP demands disclosure. But it offers greater protection for partners in return. Surely that is a fair exchange.

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