New regulations for accountants
Friday 18 September 1998
The move was accompanied by plans to introduce a more independent form of regulation for the accountancy profession, which has been criticised since the last recession for not being seen to deal swiftly or sufficiently with members who fail to meet standards.
Peter Mandelson, the Trade and Industry Secretary, intends that the scheme - largely based on proposals put forward by a team led by Chris Swinson, now president of the Institute of Chartered Accountants - will be introduced next year and will cover the entire accountancy profession.
Mr Mandelson said the proposals would "ensure transparent and robustly independent regulation, to be delivered in partnership with the profession". He said disciplinary cases with a public interest would be conducted by bodies largely made up of non-accountants.
The limited liability partnerships plan heads off threats by some firms to set up in offshore centres. It is likely to meet with some criticism, but ministers stress it will only protect innocent partners by limiting their liability to their stake in the firm. The legal liability of the firm and negligent partners will be unaffected.
The Microsoft mogul told fans a few home truths during his Reddit AMA
- 1 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 3 Dad attempts revenge on teenage daughter, plan backfires spectacularly
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Boris Johnson claims porn-obsessed Islamic jihadists are 'literally w*****s'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...