Welcome to Reed Smith’s accountancy forum newsletter. This newsletter covers a range of issues affecting accounting firms, with a core focus on liability and regulatory risk. Please do get in touch with any questions. If there is a particular issue or case that you would like us to cover in an upcoming edition, we would love to hear from you.
The Brydon Report
Sir Donald Brydon’s report, “Assess, assure and inform: improving audit quality and effectiveness”, was published on 18 December 2019 (the Report). Despite Sir Donald suggesting audit “is not broken”, but has simply “lost its way”, the Report makes 64 recommendations over 138 pages which together propose a fundamental shift in both definition and approach.
In this issue...
- The Brydon Report
Case Notes
- Who dunnit? – the question of attribution within the scope of the Quincecare duty of care
- Drawing the line: recent rulings address liability exclusions
- ‘Dominant purpose’ test ruling clarifies position for in-house counsel
- Know Your Limits: The Relationship between Investors, Advisers and Lenders
- Back to School: a hard lesson on the precise requirements of CPR 36 in making a part 36 offer
Industry news
- Cross-Atlantic reflection: Regulators undergoing contrasting changes
- Anti-money laundering rules give rise to new role for accountants
Other firm news
- SFO v. Airbus: Les Grands Remedes
- Novel coronavirus – Key considerations for financial institutions: business continuity and regulatory compliance
- Crisis Management Webinar Series: Legal Privilege