Today’s King’s Speech included a declaration that the UK would get a draft audit reform and corporate governance bill.

Adopting proposals ditched by the previous government would foster growth and a transparent, trustworthy business ecosystem.

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

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

Delays to audit reform prompt parliamentarians to push for its inclusion in government’s legislative agenda despite signs of it being postponed.

We will continue to argue for and support improvements to corporate reporting (and to audit quality and to audit oversight) in the UK, to ensure that the UK continues to be a world leader in this really important area.

Ongoing economic uncertainty has seen some companies struggle to provide useful financial data, the FRC finds.

BP CEO Bernard Looney steps down over work relationships; ACCA pushes for internal controls data; only 12% of fund managers are women.

Role of challenger audit firms and the opinion of investors underlined by new minimum standards.

Auditco chairs will have their work cut out if the role increases to become more ‘outward facing’ and encompass investor relations.