The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
A top fraud lawyer has warned accountants seeking to expand their audit function by becoming anti-fraud "policemen" of consequential increased liabilities, confusion and conflict of interest.
David Kirk, partner at top fraud firm Simons Muirhead & Burton, said advisers and businessmen should know the risks of fraud.
But he told delegates at an Institute of Chartered Accountants in England & Wales (ICAE&W) conference last week that better and more visible regulation would be more of a deterrent than the creation of a "neighbourhood watch" environment among advisers.
Auditors in the biggest firms, already facing negligence actions running into millions of pounds, are in some cases keen to acquire a fraud-busting "forensic auditing" role which could merely add to their liabilities and actions against them.
The ICAE&W talks launched the discussion paper Taking Fraud Seriously. It marked the start of a campaign by the institute's audit faculty for more concerted action against fraud, which it said costs UK industry up to £10 billion a year.
The paper examines the roles of advisers, clients and the law. Recommendations include reviewing and codifying fraud law, a new legal duty on regulators to report suspected fraud to auditors, and review of the auditor's role relating to fraud.