UK: auditor liability limitation agreements - GC100 guidance note

The Association of General Counsel and Company Secretaries of the FTSE 100 - also known as the GC100 - has published a guidance note on auditor liability limitation agreements (ALLAs) - see here. Whilst Section 532 of the Companies Act (2006) renders void provisions exempting an auditor from liability, the Act provides an exception with regard to ALLAs in Sections 534 to 536. The GC100's guidance note explains the issues which boards should take into account when deciding whether to enter into an ALLA. 

For further information see:
FRC guidance on ALLAs | Institutional Shareholders' Committee statement on ALLAs | GC100 publications |