The Companies Act 1989: auditing aspects

Article Abstract:

The UK Companies Act of 1989 implements the European Community Eighth Directive and covers the eligibility, appointment, and removal of company auditors. The Act: delineates minimum requirements for auditors in the areas of training and education; establishes a framework for ensuring the integrity of audits and appropriate safeguards for auditors' independence; and empowers the Secretary of State to designate professional bodies as the authority for approving auditors. The intent of the Act is to elucidate what types of persons are qualified to be auditors and to ensure that audits will be carried out with integrity and independence.

Laws, regulations and rules, Auditing, Auditors

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Share valuation: difficulties and disputes

Article Abstract:

Court cases have examined the legal particulars of share valuation when the shares are compulsorily purchased. No particular date or basis of valuation has been determined, and the courts will decide on a case by case basis. The court costs will prove to be expensive for companies. Companies are advised to include detailed provisions dealing with valuation of shares in the event of a disposal in their articles of association.

United Kingdom, Evaluation, Taxation, Stocks, Corporations, Tax policy, Corporations, British

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