The Institute believes that auditor liability needs to be limited across all member states within the European Union
The ICAEW's chief executive Michael Izza has welcomed the European Commission's announcement that it is launching a formal consultation on auditor liability reform following a report produced by London Economics.
Commenting on the commission’s document, he said:
"As business becomes more global, the accountancy profession and the firms within it have responded, both in terms of approach and structure.
"The legal frameworks in which they operate also need to reflect this which is why we believe it’s important that auditor liability needs to be limited across all member states within the European Union.
See full Press Release.
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