Company Law Reform Bill [HL]

I am afraid I am not satisfied with this. Essentially we are talking about an enhanced duty of care. That is the concern. The Government say they are anxious to clarify that there is no enhanced duty of    care as a result of signing the report. That demonstrates a lack of understanding about the process of an audit, how it happens and what people do. A senior statutory auditor may well turn up to an audit committee. He may make an oral statement. Does he have an enhanced duty of care that you are seeking to clarify by virtue of signing the report because of an oral statement at an audit committee? That is the issue. If it is necessary to clarify it in terms of signing the audit report, why not clarify it on the broader ground?