Free Pricing | JCPenney Coupons | Pizza Hut Coupons | Home Depot Coupons
UK company law reform follows in Sarbanes-Oxley footsteps

UK company law reform follows in Sarbanes-Oxley footsteps

by Rick Turoczy on March 31, 2005

‘Not as tough as Sarbanes-Oxley but a step in that direction’ is the overriding message on UK company law in Deloitte’s latest Corporate Governance Update. Reacting to the recent publication of the Company Law Reform White Paper, the Update warns of tougher penalties for accounting offences and liability for legislation breaches extending beyond directors and company secretaries.

Deloitte Audit Partner Martyn Jones said: “The Government has taken a lead from the US in deterring corporate misconduct although the measures outlined in the White Paper are not as severe as Sarbanes-Oxley legislation.

“The consultation period is an opportunity for directors to shape a new framework of company law which is relevant to business needs. Giving input to the regulatory impact assessment on the costs and benefits of implementing the Government’s proposals will help ensure the new law supports the UK’s competitive position internationally.”

UK company law reform follows in Sarbanes-Oxley footsteps

Leave a Comment

Previous post:

Next post: