Editorial.

Business law developments in Australia in March 1997 included a case on auditing liability, reforms for small businesses and changes in the focus of the Corporate Law Simplification Program. In Esanda Finance Corp. v. Peat Marwick Hungerfords, the High Court found that auditors were not liable for a third party's reliance on their reports. Corporate law reforms will focus on economic objectives, according to Treasurer Peter Costello. Reducing bureaucracy for small businesses and accounting reforms have also been proposed.