Author: Judy Pink

Government confirms plans for audit and corporate governance reform

The UK government has set out its plans for reform in a response to its White Paper on restoring trust in corporate governance and audit. These include: new corporate reporting obligations, including statements on fraud measures, dividend and distributable reserves disclosures, a resilience statement and an audit and assurance policy; measures to improve competition in the audit market which will particularly affect FTSE 350 companies; and stronger enforcement powers over company reporting by the new regulator, the Audit, Reporting and Governance Authority (ARGA).