The Centre for Public Interest Audit (CPIA) has published a study on the impact of the UK government’s 2022 proposed policy package for reforming audit and corporate governance.
It found that 19% of the proposed reforms have “come to fruition in some form”, with a further 12% pending due to the government’s upcoming consultation on measures to modernise corporate reporting.
“This means that just over two-thirds (69%) of the landmark 2022 reform package appears to be at a dead-end,” the report summarises.
CPIA also noted that 67% of the delivered reforms have affected audit firms, while 22% have affected companies.
