Putting the principles into practice

摘要

In the June issue of Accountancy (p86) we shared our views on how and why the limitation of auditor liability has come of age in the UK. We also outlined the options available to firms that wish to limit their liability, in the form of limited liability agreements (LLAs). In this article we identify some of the practical steps directors and companies will need to consider before, during and after their LLA negotiations. Guidance to help lead the way