Scottish insolvency pros ponder rule changes
Insolvency experts in Scotland look into rules changes proposed by government
Insolvency experts in Scotland look into rules changes proposed by government
Insolvency experts from ICAS and R3 are meeting today to discuss whether the
Scottish equivalent of the individual voluntary arrangement, known as the
protected trust deed, should work more like its English counterpart.
The discussions are planned due to concerns that changes proposed to
protected trust deeds by the Scottish Executive are not in the best interests of
debtors.
‘We’ll look at the IVA as a workable model,’ said Eileen Maclean, R3 chairman
of Scotland.
Along with the Insolvency Practitioners Association, the bodies have also
expressed concerns at changes to insolvency legislation mooted by the Scottish
Executive through the Bankruptcy and Diligence (Scotland) Bill.
Today’s meeting will look into providing alternative plans to widen access to
Scottish bankruptcy, known as sequestration, for appropriate cases.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourcePwC's Australia tax scandal has led to significant changes, including over 300 job cuts and the refusal to share a crucial report with Australian parl...
View articleAccountants and accounting firms play a crucial role in maintaining financial integrity, facing ethical dilemmas and regulatory challenges. Adherence ...
View articleThe creation of an effective sustainability standards infrastructure requires not only high-quality sustainability reporting and assurance standards, ...
View articleChanges will help to make accounting profession more attractive, ICAEW boss says Read More...
View article38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...
View articleFaber has been outspoken about the EU's approach and reinforces the ISSB's approach of a climate transitioning on the "necessary scale" Read More...
View articleEffective corporate reporting on sustainability will prevent greenwashing issues and deliver more data for better implementation of climate policies R...
View articleBy staying informed, seeking expert guidance, and adopting a forward-looking approach, accountants can successfully navigate the new regulatory landsc...
View article