Leading representatives of the profession are seeking an urgent meeting with trade secretary Patricia Hewitt to argue their case for fast-tracking an audit cap and to slam the recent report by the Office of Fair Trading.
Link: Liability cap special report
Hewitt returns from holiday this week and representatives, including Peter Wyman, head of professional affairs at PricewaterhouseCoopers will use the meeting, if it goes ahead, to make the case for early introduction of a cap.
They will also tell Hewitt about their anger over a report by the Office of Fair Trading on the competition implications of a cap, the FT reported.
The profession is running out of time to get a cap on auditors’ liabilities inserted into the company law bill – amendments to the bill are set to be tabled on the 7 September.
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