This summer’s new regulations on using artificial intelligence, including generative AI, are set to have a significant impact.

As boards gird their loins to prepare for updated UK corporate governance requirements from 2026, there’s good news too.

Code addresses need for ‘robust, competent and appropriately resourced internal audit’, according to the Institute of Internal Auditors.

Reporting on internal controls is a key feature of the scaled-down 2024 update, as is the principle of ‘comply or explain’.

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.

The government’s bonfire of the regulations expected for audit reform creates a source of uncertainty for business.

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

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

Responses to the FRC’s consultation on its proposals highlight practical concerns about implementation and compliance.