Britain's Department of Trade and Industry has pressed ahead with plans to protect auditors from lawsuits, amid fears that an excessive claim could bankrupt one of the remaining "Big 4" firms.
Accounting firms have until now faced unlimited liability for business collapses following an audit failure, but Company Law reforms, which go to Parliament this autumn, propose liability proportionate to the amount of blame.
This aims to prevent possible collapses which would reduce the number of accounting firms to a non-competitive oligopoly.
The DTI said in a statement: "The Government recognizes the importance of competition and choice as a driver of quality in the audit market."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
