The Bribery Act that came into law earlier this year introduces new offences that could catch unprepared accountancy practices off guard
The Bribery Act 2010 received Royal Assent on 8 April 2010 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 markedly different to what has gone before.
While the Act presents a considerable risk to all commercial organisations and their senior management, the breadth of the new offences could have particular implications for firms and senior individuals in the larger accounting networks.
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