April 2021 – A Government consultation sets out a package of measures because of concerns about the credibility of directors’ reporting and the statutory audit. The review is aimed at improving the UK’s audit, corporate reporting and corporate governance systems. It includes views expressed in responses to initial consultations on recommendations made by the Independent Review of the Financial Reporting Council to create a new regulator responsible for audit, corporate reporting and corporate governance, and by the Competition and Markets Authority’s market study on the audit of Financial Times Stock Exchange (FTSE)350 companies. It also sets out proposals in response to the findings of Sir Donald Brydon’s Independent Review of the Quality and Effectiveness of Audit. This review also covers building societies.
Through this consultation, the Government is seeking views on its intended reforms, both individually and as a whole. This includes looking for evidence on their likely impact and suggestions for how they might be improved. Your contribution would be greatly appreciated.
The consultation closes on 8th July 2021.