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BEIS White Paper on Audit Reform: Implications for Audit Firms and Auditors
Julie Matheson
Julie Matheson, Partner in our Regulatory team, had a letter published by the Financial Times on Monday 12 April highlighting the concerns of mid-tier accounting firms about proposed reforms to the audit sector.
Responding to a recent FT article, Julie noted the potential adverse consequences for mid-tier accounting firms of the proposed reforms had been under-reported, and cited Kingsley Napley's recent survey which found that not all mid-tier audit practice leaders view the changes as a golden opportunity.
"Our impression is that some may wish to avoid the additional level of regulation that comes with operating in the “public interest entity” arena, and particularly in FTSE 350 audits, " Julie said.
The full Letter can be viewed here (FT subscription required)
Further Information
If you have any questions or concerns about the issues raised in this letter, please contact Julie Matheson or any member of the Regulatory law team.
Julie has also recently published a detailed examination of how the audit reform proposals will impact mid-tier audit firms and auditors, which can be found here.
About the Author
Julie Matheson is a partner in the Regulatory Team. Her expertise lies in advising professionals and professional services firms, particularly in the accountancy and built environment sector, on regulatory compliance, investigations and enforcement proceedings.
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