R (on the application of Young) v General Medical Council  EWHC 534 (Admin). The material issue in this case was whether a second assistant registrar of the GMC (“AR2”) was right to decide that allegations should proceed, despite a decision previously made by an assistant registrar (“AR1”) that allegations should not proceed.
In this first part of a two-part blog series, we focus on the implications particularly for mid-tier audit firms and auditors arising from the consultation (the “white paper”) published last week by the Secretary of State for Business, Energy and Industrial Strategy (BEIS), entitled “Restoring trust in audit and corporate governance.” The consultation is open for responses until 8 July 2021.
The SRA introduced a new assessment and early resolution process focusing on upfront engagement and delivering, where possible, earlier outcomes on concerns reported to it. Additionally, in February 2019, the SRA introduced a revised Enforcement Strategy, setting out its approach to enforcement and the factors it will take into account when considering whether regulatory action is needed.