Higgs and Smith reviews - ACT Response

Comments on behalf of the ACT in response to Suggested Revised Code following Higgs and Smith reviews, January 2003, FRC.

The ACT welcomed the Higgs and Smith reports and generally supported their findings. These comments are against that background.

We were pleased to note the draft comments on the Suggested Revised Code published by the ICAEW on April 1st 2003. We generally find them constructive and helpful.

We do have serious disagreement with the ICAEW draft comments in some cases. However, in order to avoid duplication of comments to the FRC and reduce the length of our own comments we have normally not commented where we support the ICAEW April 1st draft.