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.

Regulators have moved on clawbacks in Washington while the UK has them under review.

Sir Jon Thompson says a UK regime similar to Sarbanes-Oxley would raise governance standards and improve risk management and accountability.

One of the Kingman review’s key recommendations for reforming audit was a version of US Sarbox rules, a proposal supported by many audit committee chairs.

Have current codes of practice significantly improved corporate governance around the world? If not, then it may be time to review the case for enforced compliance.