Corporate governance hots up on the continent

Continental European countries are increasing their focus on corporate governance issues.

For example, yesterday, the government of France proposed draft legislation that is aimed at tightening up rules in the accounting profession—the country’s equivalent of the US Sarbanes-Oxley Act. The new rules will impose restrictions on the provision of consulting services by accounting firms. Also, it will force the rotation of audit teams every six years.

As well, an action plan on company law and corporate governance will be issued by the European Commission by the end of the first

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