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The Department for Business, Innovation and Skills has published a consultation paper proposing the simplification of the arrangements for the provision of information when an auditor leaves office.
The document seeks views on:
removing the duty to notify audit authorities of an auditor’s departure in some cases where it is of little interest to those authorities;
removing the duty on the audit authorities to notify the accounting authorities of all auditor departures of which they are informed; whether there should be any changes to requirements for information to be provided to investors when auditors leave listed companies;
removing the need for companies to notify Companies House in certain cases of auditor departure;
simplifying the legislation by clarifying definitions.
Consultation is open until 20 January 2010.
http://www.berr.gov.uk/files/file53766.pdf
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