The bankruptcy laws are in urgent need of reform, which is now under study, to shorten procedures, offer greater certainty and broaden the scope for mutually agreed solutions and the survival of worthwhile economic projects in temporary difficulty. Firms, banks and the economy will benefit. In the financial sector, reliable judgements and proper conduct are equally important.
Intermediaries are required to assess fully all the risks of their clients’ investment decisions and present them clearly. 4. The discipline of accounting is undergoing far-reaching review at the moment in response to the demand for standardization stemming from the growing international openness of our economies.