FRC consultation on Audit Committee Standard

The Financial Reporting Council (FRC) has launched a consultation on a draft minimum Standard for audit committees of FTSE 350 companies in relation to external audit. As part of the reform of audit and corporate governance in the UK, the government announced in May 2022 that it will give the Audit, Reporting and Governance Authority (ARGA) – the new successor regulator … Read more

FRC position paper on audit and corporate governance reform

Following the publication in May this year of the government’s response to its consultation on audit and governance reform (see our blog post here for more details), the FRC has published a position paper setting out the steps it will take to implement the reforms outlined by the government. In particular, the FRC intends to publish a consultation paper … Read more

Government response on audit and corporate governance reform consultation

The Department of Business, Energy and Industrial Strategy has published the response to its March 2021 consultation on audit and corporate governance reform, Restoring trust in audit and corporate governance (for further details, see our corporate update from March 2021). Most of the proposals contained in the consultation will be implemented, a number in modified … Read more

Half yearly corporate update – our latest briefing

We have published our half-yearly update briefing which summarises the major developments in UK corporate law and regulation that have occurred over the last six months, that is from January to June 2021, and which are of relevance to UK listed companies. The briefing is available here. Read more

Audit reform and corporate governance – our briefings on reforms to audit and corporate governance

As discussed in our last corporate update, BEIS has published its long-awaited consultation paper on audit and governance reform, Restoring trust in audit and corporate governance. It proposes fundamental reforms to the audit process, product and market. If implemented, the proposals would lead to considerable changes to the way that companies approach their financial statements … Read more

Corporate Governance Podcast: Episode 2 – The Government’s audit and governance proposals – impact on companies

In this podcast, we discuss the UK Government’s long awaited consultation paper on audit and governance reform with the Financial Reporting Council’s Kate O’Neill, Director of Stakeholder Engagement and Corporate Affairs, and Miranda Craig, Director of Strategy and Change. The consultation paper proposes some fundamental reforms in a number of areas in relation to audit, … Read more

Investment Association statement on shareholder priorities

The Investment Association (IA) has published a document discussing its listed company shareholder priorities for 2021. The IA first published its shareholder priorities in January 2020. It focused on four key areas: climate change, audit quality, stakeholder engagement and employee voice and diversity (see our earlier blog post). The 2021 priorities document provides insights into the … Read more