News Archive: 2021
The Department for Business, Energy & Industrial Strategy (“BEIS”) has issued a 232-page consultation document “Restoring trust in audit and corporate governance” which you can download from the gov.uk website by clicking this link.
What can you do?
Another audit reform improvement that the FRC is cracking on with. UKSA suggests that reports on audit quality and quality management should be made to the shareholders
UK audit quality needs to improve if shareholders are to have confidence in the financial statements of the companies they invest in.
UKSA has now filed its response to the third and latest of a series of major consultations putting the future of financial services under the spotlight. A recurring theme is that regulation needs to put people first – to encourage wealth creation for the benefit of all and not wealth extraction for the benefit of a few.
On 26 February the UK Government announced that it had completed the final £5 billion sale of Bradford & Bingley plc and NRAM Limited (formerly Northern Rock) and their remaining loans, acquired by the taxpayer as a result of the financial crisis.
Recent regulatory failures (for example the mis-selling of mini-bonds peddled by London & Capital Finance and the failure to protect pensioners being pressured by ‘advice’ on pension transfers from commissioned agents) have forced a welcome review of current practice. UKSA is responding to make sure the interests of ordinary savers and…
In October 2020 the FRC issued a discussion paper on the Future of Corporate Reporting. The paper focuses primarily on the annual report but includes other periodic reporting and raises fundamental questions about its 'fitness for purpose' in today's world. Further 'tweaks', the FRC concludes, are unlikely to address valid concerns. The time has…
The UK Treasury has recently been reviewing the UK Listing rules. The Coronavirus pandemic and Brexit helped to fuel a sell-off in London listed stocks in the twelve months to January 2021. The FTSE 100, for example, fell more than 14% last year, making it the worst performing of the large international stock indices. However, the London market…
On Friday 29 January UKSA and ShareSoc responded to the FRC’s consultation on the proposed revisions to the UK audit standard on an auditor’s responsibilities relating to fraud.
UKSA has delivered a 77-page analysis in response to the Financial Conduct Authority's 'Call for Input'. In their words: “We need the system as a whole, including regulation, to work better for consumers.”
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