A Blueprint for Audit
Planning the next decade of public audit
In January of this year, the UK government announced it would not proceed with the Audit Reform and Corporate Governance Bill. This had been the work of multiple administrations and was supposed to be the culmination of a decade of reviews, proposals and consultations in line with the industry.
Although the news was disappointing to almost everyone with an interest in UK corporate governance and audit, it doesn’t bring the reform agenda to an end.
Some of the key recommendations made in the government-commissioned reviews have already been implemented or are in progress and the government has indicated that it will push through further reforms too.
The audit sector and UK corporate governance landscape have changed significantly over the past 10 years, and for the better. But there is still much work to do. This series will explore how across the varied professions that underpin corporate governance can drive the reform agenda to create a more robust, forward-looking audit profession that underpins sustainable economic growth and is of utmost benefit to society.
A Decade of UK Corporate Governance & Audit Reform
Overview and findings
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The research
We assessed the 161 individual recommendations from the three independent reviews and the Government’s 2022 proposals, and graded each on whether:
- A review proposal was rejected during the Government’s consultation process or has been dropped as a proposal by Government since 2022.
- Progress on implementing the proposal is still possible.
- The proposal, or key elements of the proposal, have led to recognisable change in the audit and corporate governance framework
Explore our findings
