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Regulatory Blog

1 March 2021

Audit reviews: the process, pitfalls and published themes – a focus on FRC Audit Quality Reviews

In the second blog of our audit series, Julie Matheson and Sarah Harris discuss the FRC’s recent Audit Quality Inspection report, describe how the FRC uses its powers to uphold audit quality and provide some tips on what to do if the FRC opines that one of your firm’s audits needs more than limited improvements.

Julie Matheson

26 February 2021

Fire Safety Bill Ping Pong – When will the Bill reach match point?

The Fire Safety Bill is currently in the ping-pong stage of the parliamentary legislative process, the House of Commons on Wednesday having debated the Lords amendments. There were five proposed amendments, most notably amendment 4 which looked to impose a prohibition on building owners passing the cost of any remedial work in respect of fire safety onto leaseholders and tenants.

Hannah Eales

19 February 2021

The long and winding road…. that leads to….. ARGA

Following the submissions of the Financial Reporting Council (‘FRC’)  to the BEIS Select Committee in September 2020, in which it set out its progress so far under the Transformation Programme, the FRC this week has launched a consultation on its draft Strategy and Plan & Budget 2021/22, calling for stakeholder comments by 12 March 2021.
Julie Matheson

17 February 2021

No strike-off for dishonesty: A case law review of exceptional circumstances

In three recent judgments handed down by the Solicitors Disciplinary Tribunal (the ‘Tribunal’) – Solicitors Regulation Authority v Orton, Solicitors Regulation Authority v Panesar-Jagdev, and Solicitors Regulation Authority v McCullagh – the Tribunal found allegations of dishonesty proved but decided the circumstances fell within the small residual category of ‘exceptional circumstances’, thus warranting a more lenient sanction. In this blog, we consider recent case law in this area and, in particular, look at when the general rule of strike off for dishonesty has and has not been judged an appropriate sanction.

Jessica Clay

16 February 2021

Health and Social Care White Paper 2021: Where next for patient safety and professional healthcare regulation?

Last week, the Department of Health and Social Care published a white paper, Integration and Innovation: working together to improve health and social care for all (the ‘White Paper’), setting out legislative proposals for a new Health and Care Bill, planned to come into force in 2022. 

Shannett Thompson

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