Ignorant of change

April 2001
Accountancy;Apr2001, Vol. 127 Issue 1292, p8
Trade Publication
This article presents a research published by European law firm Eversheds related to the main proposal emerging from review document of the Company Law in Great Britain. Overall, 38% of quoted companies, 50% of unquoted companies and 77% of private companies that participated in the survey were unaware of the proposals. 81% of respondents believed the proposals would make Great Britain less attractive for directors as a place to incorporate their business. The findings of the survey, which was conducted among 186 companies, have been submitted to the Department of Trade and Industry (DTI) of the nation. Some of the proposals to come out of the review remain contentious. The Association of Chartered Certified Accountants in the nation urged DTI not to raise the audit threshold from £1 million to £4.8 million as proposed, for fear that it could lead to a significant reduction in the reliability of financial information that small companies provided, and jeopardise the position of stakeholders.


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