The last thing most companies want is more cost that doesn't drive revenue. Compliance is obviously important but Sarbanes Oxley has created a 'flag day for the consultants', and what good has SarBox done in steering the world or even America away from the financial crisis??

Personal certification and hence personal liability for careless or deliberate breaches appears to be an unwelcome measure that also achieves little as I believe even HMR&C recognises that most of the companies affected by the proposed new legislation already have the requisite systems in place, scrutinised annually by auditors. Whilst this represents part of HMR&C’s continuing drive to encourage large companies to recognise and accept their “corporate responsibility” I sense it will just bring unnecessary expense without any real increase in the UK tax take. Just what the current recession needs!! That having been said this sort of attestation is now the way of the world so I expect it to become legislation, irrespective of feedback received during consultation.