Lack of ownership reform and plans to extend the definition of “public interest entity” have drawn criticism from prominent figures.
Consultation on the most sweeping proposals in recent years to confront auditors, the audit market and audit committees will close this week.
The sector does not yet know what the outcome will be, which measures will be retained and which will be jettisoned, but reports in the press have given us a good idea of what observers feel about the changes.
Launched in March after two years of waiting, and publication of at least three high-level reports, the audit white paper offered proposals for restructuring the audit market, the quality of audit plus new standards for audit committees, and, potentially, new penalties too.
The 230-page w
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The European Court of Justice has published guidance on "gun-jumping", a failure by merging parties to comply with the “standstill obligation”, which requires companies to seek clearance by a competition authority before implementing a merger.