No escaping personal liability

Article Abstract:

The cases involving all directors and senior managers who are at risk of personal exposure to executive liability, are discussed. Steps for company directors and senior managers to reduce personal liability such as recording of all key decisions and the reasoning behind them, taking care while signing representations made to auditors, having their insurance and not to omit their fiduciary responsibilities, are highlighted.

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Unaudited accounts: The lurking hazards

Article Abstract:

Circumstances that most certainly lead to major litigation arise in the context of an acquisition of a company or business whose results or financial position turn out to be worse than the purchaser had anticipated. It there is any doubt regarding the stability of the company, the accounts must include a note that is just as explicit and focused as would be required in a set of audited financial statements.

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Taxing slip-ups

Article Abstract:

The suggestions to avoid tax-related issues, that are concerned with administrative failure such as missing deadlines for the submission of returns, claims for loss relief or continuation elections, are to improve the quality of record-keeping and buying a diary. The circumstances that can lead to a claim against a practitioner in respect of negligent tax advice are discussed with the ways to handle them.

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