In light of recent events and continued business failures, should the Society not tighten up its solvency criteria? I am sure most failures can be predicted by a look at the relevant LLP or company accounts. I wonder if, as a profession, too many people have become reckless as they feel protected, for example as an LLP?

The personal guarantee is a sobering thought, especially if granted in better times. Before my firm, a traditional partnership, merged (in a very solvent state) and I sought my exit, I was always very aware of the potential unlimited liability of the partners and proceeded accordingly.

This current state of affairs does nothing to bolster public confidence in the profession, and indeed sometimes the wellbeing of the Client Protection Fund.

David Adie, Glasgow