1-20 of 330 results for subject:Audit
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To ask the Secretary of State for Business and Trade, whether his Department has referred to the Financial Reporting Council the conduct of KPMG in relation to its reviews of Drax Group plc’s biomass sustainability reporting and the treatment of those findings in the company’s annual reports.
To ask the Secretary of State for Business and Trade, whether his Department has referred to the Financial Reporting Council the conduct of KPMG in relation to its reviews of Drax Group plc’s biomass sustainability reporting and the treatment of those findings in the company’s annual reports.
The Financial Reporting Council (FRC) has been in dialogue with other regulators including the Financial Conduct Authority and Ofgem regarding KPMG’s work in relation to Drax’s biomass sustainability reporting. As KPMG’s work for Drax was undertaken as an advisory review rather than as statutory audit work, this does not fall within the FRC’s statutory audit regulatory remit. The FRC continues to monitor this case and will consider any further relevant information.
I. Fair Work Agency: framework agreement. Incl. annex. 38p. II. Letter dated 09/07/2026 from Kate Dearden MP to the Deposited Papers Clerk regarding a document for deposit in the House libraries. 1p.
I. Fair Work Agency: framework agreement. Incl. annex. 38p. II. Letter dated 09/07/2026 from Kate Dearden MP to the Deposited Papers Clerk regarding a document for deposit in the House libraries. 1p.
I. Framework Document between the Competition and Markets Authority and the Department for Business and Trade. 27p.II. Letter dated 06/07/2026 from Kate Dearden MP to Liam Byrne MP regarding publication of the framework document. 1p.
I. Framework Document between the Competition and Markets Authority and the Department for Business and Trade. 27p.II. Letter dated 06/07/2026 from Kate Dearden MP to Liam Byrne MP regarding publication of the framework document. 1p.
What steps he is taking to reform auditing and corporate governance.
What steps he is taking to reform auditing and corporate governance.
To ask the Secretary of State for Business and Trade, what plans his Department has to reform corporate reporting requirements to support economic growth and competitiveness.
To ask the Secretary of State for Business and Trade, what plans his Department has to reform corporate reporting requirements to support economic growth and competitiveness.
The government has announced plans to modernise and simplify the corporate reporting framework and expects to publish its Modernising Corporate Reporting consultation shortly. The consultation will consider financial, non-financial, remuneration and corporate governance reporting, as well as options to drive greater digitisation. The proposals are intended to ensure the UK has one of the most proportionate, internationally competitive and investor-focused corporate reporting frameworks in the world. An improved framework creates the conditions for well-functioning markets and thereby drives economic growth.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure audit requirements are accessible and affordable for small and mid-sized quoted companies.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure audit requirements are accessible and affordable for small and mid-sized quoted companies.
The government has announced plans to modernise and simplify the corporate reporting framework and expects to publish its Modernising Corporate Reporting consultation shortly. The consultation will consider financial, non-financial, remuneration and corporate governance reporting, as well as proposals to reduce burdens on business and to simplify the preparation and audit of accounts and reports, including for quoted companies. The consultation will also consider the appropriateness of the UK’s framework for reporting and auditing by small and medium-sized companies.
To ask the Secretary of State for Business and Trade, what plans his Department has to reform corporate reporting requirements to support economic growth and competitiveness.
To ask the Secretary of State for Business and Trade, what plans his Department has to reform corporate reporting requirements to support economic growth and competitiveness.
The government has previously announced its plans to modernise and simplify the corporate reporting framework and expects to publish a consultation on the Modernising Corporate Reporting shortly. The consultation will consider financial, non-financial, remuneration and corporate governance reporting, as well as proposals to reduce burdens on business and to simplify the preparation and audit of accounts and reports, including for quoted companies. The consultation will also consider the appropriateness of the UK’s framework for reporting and auditing by small and medium-sized companies.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure that audit requirements are accessible and affordable for small and mid-sized quoted companies.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure that audit requirements are accessible and affordable for small and mid-sized quoted companies.
The government has previously announced its plans to modernise and simplify the corporate reporting framework and expects to publish a consultation on the Modernising Corporate Reporting shortly. The consultation will consider financial, non-financial, remuneration and corporate governance reporting, as well as proposals to reduce burdens on business and to simplify the preparation and audit of accounts and reports, including for quoted companies. The consultation will also consider the appropriateness of the UK’s framework for reporting and auditing by small and medium-sized companies.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to simplify audit requirements for quoted companies.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to simplify audit requirements for quoted companies.
The government has previously announced its plans to modernise and simplify the corporate reporting framework and expects to publish a consultation on the Modernising Corporate Reporting shortly. The consultation will consider financial, non-financial, remuneration and corporate governance reporting, as well as proposals to reduce burdens on business and to simplify the preparation and audit of accounts and reports, including for quoted companies. The consultation will also consider the appropriateness of the UK’s framework for reporting and auditing by small and medium-sized companies.
To ask the Secretary of State for Business and Trade, whether he plans to bring forwards an alternative to the Audit Reform and Corporate Governance Bill.
To ask the Secretary of State for Business and Trade, whether he plans to bring forwards an alternative to the Audit Reform and Corporate Governance Bill.
The UK is a world leader in audit quality and corporate governance. We will bolster this further by launching a consultation to modernise, simplify and streamline the UK's corporate reporting framework, with the ambition to make the UK's reporting regime the most proportionate in the world. We also intend to legislate to put the Financial Reporting Council on a proper statutory footing when parliamentary time allows.
To ask His Majesty's Government what assessment they have made of the impact on jobs, growth and investment of major corporate collapses linked to audit and governance deficiencies over the past decade.
To ask His Majesty's Government what assessment they have made of the impact on jobs, growth and investment of major corporate collapses linked to audit and governance deficiencies over the past decade.
The Government has not made such an assessment. At one level, almost all corporate collapses can be linked to governance deficiencies, since company directors have a duty to promote the success of the company. Audit deficiencies tend to exacerbate problems rather than being the cause of a company’s collapse. As an example of the impact of a major corporate collapse over the past decade, the failure of Carillion left approximately £4.5bn of debt, affecting around 7,000 first-tier suppliers and contractors, and displacing 19,000 UK jobs.
To ask His Majesty's Government what steps they plan to take to mitigate the risk of further avoidable corporate failures pending the introduction of strengthened audit and governance regulations.
To ask His Majesty's Government what steps they plan to take to mitigate the risk of further avoidable corporate failures pending the introduction of strengthened audit and governance regulations.
The quality of audit regulation and audit itself has seen considerable improvement in the last eight years following the collapse of Carillion; however, we will continue to work closely with the Financial Reporting Council to keep improving the audit market. The government is committed to good governance, and the UK is a world leader in corporate governance. We will take a further step in this direction by launching a consultation to modernise, simplify and streamline the UK’s corporate reporting framework, with the ambition to make the UK’s reporting regime the most proportionate in the world.