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ODCE Strategy Statement 2009-2012
ODCE Strategy Statement 2009 - 2012
ACCA made a formal submission to the Office of the Director of Corporate Enforcement (ODCE) on the preparation of the Office's Strategy Statement for the period 2009 – 2012. The key points made by ACCA were:
- Ensure that action taken is in proportion to the offence committed;
- Provide greater emphasis on the provision of information on company law to compensate for the increased use of audit exemption;
- Work with the judiciary and legislators to make non-compliance with company law a more serious matter than currently;
- Work with the judiciary and legislators to bring in a fixed fine regime for breaches of company law;
- Work with CRO to put in place a filed accounts inspection regime and have incomplete or incorrect financial statement rejected by CRO;
- Publish an ODCE code of practice so that directors, auditors and member of the public will have certainty over how they will be treated;
- Fund the liquidation of insolvent but un-liquidated companies where there is a suspicion of fraud or reckless trading.
- Improve the transparency in the reporting of cases.