Parliament to press ahead with proportionate liability after titanic battle
Auditors have emerged victorious from their titanic battle with investors over proportionate liability after the government today unveiled draft clauses that would allow them to negotiate limited liability with clients.
In a written statement to parliament, minister of state for industry Alun Michael revealed that proposals will go forward into primary legislation that would reform the liability regime for auditors, largely as had been set out in the government's consultation document in March.
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