The Competition Commissions (CC) has been conducting a market investigation into statutory audit services and has been reviewing clauses in loan agreements relating to the appointment of auditors. The CC has now issued its final report and one of it package of remedies is a ban on provisions in loan agreements limiting auditor choice. However, loan agreements in effect at the date of the relevant Order (expected by 1 October 2014) will be exempt. There is no immediate need to change credit agreements.
Members-only access
To access the full resource, you must be a
member.
Already a member?
Login to unlock.
Login
Not an ACC member?
Gain access to a comprehensive collection of global
resources for in-house counsel
Sign
up for a 30-day trial
Region:
United Kingdom
The information in any resource collected in this virtual library should
not be construed as legal advice or legal opinion on specific facts and should not be considered representative of the views of its authors, its sponsors, and/or ACC. These resources are not intended as a definitive statement on the subject addressed. Rather, they are intended to serve as a tool providing practical advice and references for the busy in-house practitioner and other readers.