Are accountants, and lawyers, prepared for NOCLAR?

The APESB has released a draft of new section 225 of the Code of Ethics for Professional Accountants, APES 110, for comment by 15 March 2017. This section deals with NOCLAR, “non-compliance with laws and regulations”, and the obligation on an accountant to report or respond to that non-compliance detected in a client or third party. […]

Prepacks – useful for law and accounting firms going under?

ASIC was recently asked in parliament for its views on “prepacks”, or pre-packaged insolvency administrations, with understandably cautious responses given.  A law reform recommendation to allow pre-appointment sales remains with government. When or if it comes to decide, the government will need to see how other countries have progressed on this issue, with the possibility […]