The cross-party Commons Trade and Industry Committee is urging the UK government to move forward with long-awaited reforms to company law, according to a Times report on Wednesday.
Expressing concern at the delay in the production of a Companies Bill after five years of discussion on the issue, Elizabeth Flood, clerk to the Committee, explained to the UK newspaper that: 'People don't see it as a priority. It's not 'sexy' in political terms.'
According to the Trade and Industry Committee, several significant areas, including provisions addressing small company audits, and auditor liability must be finalised before a draft bill can be produced.
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