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Auditor Liability

October 20, 2005

Question written on 20/10/2005

To ask the Secretary of State for Trade and Industry what discussions he has had with (a) officials and (b) auditing firms about reform of auditor liability.

Answered by Alun Michael

Ministers and officials have had numerous discussions with auditing firms about auditor liability, particularly since the publication of the consultative document Director and auditor liability” in December 2003. We also continue to have discussions on the subject with companies and investors who have an interest as customers of auditors, and with bodies representing companies, investors and accountants.