{"id":56116,"date":"2021-03-19T09:21:07","date_gmt":"2021-03-19T09:21:07","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=56116"},"modified":"2021-03-19T10:12:35","modified_gmt":"2021-03-19T10:12:35","slug":"the-proposed-audit-reforms-are-an-absolute-bargain-what-are-people-whining-about","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/03\/19\/the-proposed-audit-reforms-are-an-absolute-bargain-what-are-people-whining-about\/","title":{"rendered":"The proposed audit reforms are an absolute bargain: what are people whining about?"},"content":{"rendered":"<p>According <a href=\"https:\/\/www.ft.com\/content\/7c66877e-9cb0-44ca-984b-f983f7bcabee\" target=\"_blank\" rel=\"noopener noreferrer\">to the FT <\/a>\u00a0the White Paper <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/03\/18\/the-government-has-made-shareholders-the-focus-of-its-audit-reforms-when-stakeholders-should-have-been-at-the-top-of-its-list-of-priorities\/\" target=\"_blank\" rel=\"noopener noreferrer\">proposals on audit reform<\/a> might result in more than \u00a3430m of additional costs for business. There are those already bleating as result.<\/p>\n<p>Let's put this in context. The failure of Carillion PLC cost more than \u00a32 billion in non-payment to suppliers.<\/p>\n<p>The lost pension cost was significant.<\/p>\n<p>And then there were over 3,000 jobs lost.<\/p>\n<p>If the proposed audit reforms worked (and I am sorry to say that they won't, because they are far too tame to do so) they would be an absolute bargain.<\/p>\n<p>Those that would work would cost little more and still be worth every penny.<\/p>\n<p>Those complaining really have got the wrong end of this stick.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the FT \u00a0the White Paper proposals on audit reform might result in more than \u00a3430m of additional costs for business. There are those<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2021\/03\/19\/the-proposed-audit-reforms-are-an-absolute-bargain-what-are-people-whining-about\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,26,81,176],"tags":[],"class_list":["post-56116","post","type-post","status-publish","format-standard","hentry","category-accountancy","category-accounting","category-auditing","category-corporate-accountability-network"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=56116"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/56116\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=56116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=56116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=56116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}