The LSE’s response to the government’s panicky U-turn on governance regulation is not helpful to NEDs and other stakeholders.

Although the government cancelled the requirement, resilience disclosures ‘cannot be wasted effort’, says senior auditco chair.

Government legislative agenda sees FRC reduce governance code revisions, but declaration on controls survives the cull.

Further delay ‘will not achieve the aim of restoring trust in audit and corporate governance’, says Deloitte managing partner.

Investors react to the government’s U-turn on proposed measures prompted by the collapse of Carillion in 2018.

Plans for resilience reporting regulations are scrapped in the volte-face, as is the requirement for an audit and assurance policy.

In all, the auditing giant has now been fined £30m for its failures at Carillion, reduced to £21.5m for co-operation.