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Future of audit inquiry

Inquiry

This inquiry will focus on the likely impact of the CMA market study and the review of the FRC (by Sir John Kingman) in improving quality and competition in the audit market and reducing conflicts of interest. The Committee intends to feed into the CMA study and ensure audit reform is linked to coherent reform of the wider corporate governance agenda.

Work news

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Future of Audit – Government's response ‘in danger of kicking vital reforms into the long grass'
Business, Energy and Industrial Strategy Committee publishes Government Response to the Committee's report on the future of audit
7 June 2019
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Rachel Reeves, BEIS Chair, keynote speech on Future of Audit report
Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Select Committee, keynote speech on the BEIS Committee ‘Future of Audit' report at ICAEW (The Institute of Chartered Accountants in England and Wales)
2 April 2019
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Split ‘Big Four' audit function from consultancy services, say MPs
Business, Energy and Industrial Strategy Committee publish report on the Future of Audit
2 April 2019
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Secretary of State questioned on future of audit
Committee explores recommendations of CMA study of the audit market and Sir John Kingman's review of the Financial Reporting Council
8 March 2019
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Committee Chair comments on Grant Thornton audit response
Rachel Reeves MP comments on correspondence from Grant Thornton regarding the future of audit
20 February 2019
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Financial Reporting Council questioned on future of audit
Committee examine examine questions around audit quality, and around the CMA and Kingman reviews
4 February 2019
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Big 4 accountancy firms questioned on future of audit inquiry
Committee questions Big 4 accountancy firms on the future of audit inquiry
30 January 2019
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Future of audit inquiry evidence submissions published
27 published written evidence submissions received from the Big Four, ‘challenger' firms and investors
28 January 2019
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Committee Chair comments on Patisserie Valerie collapse
Rachel Reeves MP comments on news that Patisserie Valerie has gone into administration
23 January 2019
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Sir John Kingman questioned on the future of audit
Committee examines the establishment of a new, tougher regulator to replace the FRC
23 January 2019
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Academics and investors questioned on future of audit
Business Committee hold first evidence session into the future of audit
11 January 2019
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BEIS Chair comments on CMA audit reforms
Rachel Reeves MP comments on Competition and Markets Authority proposals on the audit market
18 December 2018
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Speech by Rachel Reeves MP: Audit, trust, and the future of capitalism
Speech by Rachel Reeves MP at the London HQ of the Institute of Chartered Accountants in England and Wales (ICAEW)
12 November 2018
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BEIS Committee examine the future of audit
Committee launch inquiry to examine the 'broken' audit market
12 November 2018
Total results 14 (page 1 of 1)

Contact us

  • Email: commonsbtc@parliament.uk
  • Phone: 020 7219 8586 (General enquiries) | 020 7219 6970 (media enquiries)
  • Address: Business and Trade Committee, House of Commons, London, SW1A 0AA