New legislation to prevent Enron-style scandals

Government has unveiled new legislation to improve corporate conduct and
protect Britain from further Enron-style business scandals.

Companies (Audit, Investigations and Community Enterprise) Bill tightens the
independent regulation of the audit profession and strengthens the enforcement
of company accounting.

gives auditors greater powers to get the information and increases company
investigators’ powers to uncover misconduct.

Minister Jacqui Smith said: "We want the UK to have the best system of
corporate governance in the world – the aim [of this bill] is to raise
corporate performance across the board and beyond."

By Michael Millar

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