RegulationAccounting StandardsICAS calls for Bribery Act delay

ICAS calls for Bribery Act delay

Scottish institute calls for a three-month delay in the implementation of the Bribery Act to give SMEs time to prepare

THE INSTITUTE of Chartered Accountants in Scotland (ICAS) has urged the government to delay implementation of the Bribery Act by three months to give SMEs more time to prepare for the legislation.

The Bribery Act received Royal Assent last April and is expected to become operative in April 2011. It will abolish all existing UK anti-bribery laws and replace them with a suite of new offences.

As part of its “growth review”, the government is reviewing the Bribery Act, in an attempt to ease compliance burdens faced by UK business, ICAS said.

ICAS has previously published 14 recommendations to help make the new anti-bribery rules easier for businesses to understand.

James Barbour, director of technical policy at ICAS, said: “Given that the final guidance will not be published until later in January, a couple of months from this date until the Act goes live is not enough time for businesses to respond appropriately. A three-month delay to July would greatly assist organisations and help the business community and government work together more harmoniously.”

 

Related Articles

CIPFA announces anti-corruption qualification

Accounting Standards CIPFA announces anti-corruption qualification

2y Calum Fuller, Reporter
ICAEW fellow charged over crime family probe

Accounting Standards ICAEW fellow charged over crime family probe

2y Chris Warmoll, Writer
Regulators to clear up advisors' whistleblowing rules

Accounting Standards Regulators to clear up advisors' whistleblowing rules

5y Richard Crump, Writer
Ex-KPMG trainee admits £25,000 expenses fraud

Accounting Standards Ex-KPMG trainee admits £25,000 expenses fraud

8y Kevin Reed, Writer
London Philharmonic FD accused of fraud

Accounting Standards London Philharmonic FD accused of fraud

8y Accountancy Age, Reporters
Former ACCA president pleads guilty to theft

Accounting Standards Former ACCA president pleads guilty to theft

8y Paul Beard
Accounting rules not suited to fight corruption

Accounting Standards Accounting rules not suited to fight corruption

8y Mario Christodoulou, Writer
Global rules proposed may fight Third World corruption

Accounting Standards Global rules proposed may fight Third World corruption

8y Mario Christodoulou, Writer