This report sets out the four key business law principles that ACCA believes underpin a good environment for doing business, and the five mechanisms to put meaning into practice.
ACCA believes there are four key tenets or principals of business law that underpin a good environment for doing business these are:
1. Simplicity - the laws that govern businesses should be stringent but not complex.
2. Openness and transparency - Lawmakers should be open and transparent with businesses when designing and implementing business law
3. Fairness - business law must be applied consistently and equally among business enterprises.
4. Accountability - business law should facilitate the accountability of business, fostering trust in businesses.
To ensure that these principles have real meaning in practice, the law must: