Passing of corporate insolvency and governance act into law

A number of key organisations from across the insolvency and restructuring framework have welcomed the passing of the Corporate Insolvency and Governance Act into law, following its Royal Assent on June 25, 2020.


Insolvency and restructuring trade body R3, the Institute of Chartered Accountants in England and Wales (ICAEW), the Insolvency Practitioners’ Association (IPA), ICAS, and Chartered Accountants Ireland have all welcomed the passage of the Act on to the statute book.


The Act introduces the biggest reforms to the UK’s corporate insolvency framework for almost twenty years and makes a series of temporary changes to the corporate governance requirements for companies and other entities.


Read the full article in the International Accounting Bulletin here