IFAC Comment Letter to the UK BEIS
Restoring Trust in Audit and Corporate Governance
Jul 12, 2021 | Comment Letters
IFAC welcomes the opportunity to comment on the Department of Business, Energy & Industrial Strategy Consultation on the Government’s proposal for Restoring trust in audit and corporate governance. The Government has put forth a very comprehensive assessment of issues that are relevant to restoring trust in both audit and corporate governance. We firmly support such an approach that addresses the credibility of directors’ accountability and reporting as well as the statutory audit. IFAC's response draws on its previously published framework for Achieving High-Quality Audits and proposes three guiding principles for the Government's consideration–the importance of a well-functioning ecosystem, a clear focus on audit quality above all else, and an appreciation for the global context.
Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.
You must be signed in to the IFAC website in order to submit a comment. If you do not have an account, please register below. IFAC respects your privacy and will not send you unsolicited email or spam. You can subscribe to IFAC publications, change your subscription preferences, or manage your user profile at any time.
Get the latest updates delivered to your inbox
LOOKING FOR BOARD STANDARDS?
Translations & Permissions
Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.