Company Law Reform Bill [HL]

I am entirely happy to accept that position, but this Bill changes the nature of the role of individuals within an audit firm. To date, the audit firm has been the auditor, and it has been very clear that any cause of action lay against the firm. By putting the senior statutory auditor out in the open, there is a possibility that a duty of care may go along with that. That is the nature of the uncertainty. The Minister says the Government do not think it is like that, but I have to tell him that is not good enough if you are sitting in an audit firm potentially building up personal liabilities on top of the bit you share as part of an audit firm.