{"id":71550,"date":"2023-08-31T08:05:44","date_gmt":"2023-08-31T07:05:44","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=71550"},"modified":"2023-08-31T08:05:44","modified_gmt":"2023-08-31T07:05:44","slug":"audit-reform-is-being-delayed-yet-again-might-that-be-because-politicians-are-much-too-depdendent-on-the-big-4-accooting-firms","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/08\/31\/audit-reform-is-being-delayed-yet-again-might-that-be-because-politicians-are-much-too-depdendent-on-the-big-4-accooting-firms\/","title":{"rendered":"Audit reform is being delayed, yet again. Might that be because politicians are much too depdendent on the Big 4 accooting firms?"},"content":{"rendered":"

As the FT reports<\/a> this morning:<\/p>\n

The government is preparing to omit a much delayed overhaul of the UK\u2019s audit and corporate governance regimes from its programme of flagship legislative reforms for the coming year.<\/p><\/blockquote>\n

They have added:<\/p>\n

The expected absence of legislation to underpin the overhaul in November\u2019s King\u2019s Speech, which will set out the government\u2019s reform priorities for 2023-24, would mean that the changes are unlikely to be implemented before the next general election.<\/p><\/blockquote>\n

The situation is actually worse than that. Reliable sources have told me that this would not be a Labour priority either - not being on their agenda until 2027 at the earliest.<\/p>\n

So, audit failure that imposes enormous costs on society and undermines the credibility of the data on which our whole supposedly market-orientated society works is not an apparent issue of concern to anyone in politics, even though the evidence suggests that there is a great deal wrong in the accounting and auditing professions.<\/p>\n

Why could there be this indifference, I wonder? Could it be that both Tories and Labour (especially) have leant heavily on support from the Big 4 firms of accountants who just happen to undertake most of these failed audits? Or am I being just a touch too cynical?<\/p>\n","protected":false},"excerpt":{"rendered":"

As the FT reports this morning: The government is preparing to omit a much delayed overhaul of the UK\u2019s audit and corporate governance regimes from
 Read the full article…<\/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":[67,26,81,101,16],"tags":[],"class_list":["post-71550","post","type-post","status-publish","format-standard","hentry","category-accountancy","category-accounting","category-auditing","category-big-4","category-ethics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/71550","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=71550"}],"version-history":[{"count":1,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/71550\/revisions"}],"predecessor-version":[{"id":71551,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/71550\/revisions\/71551"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=71550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=71550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=71550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}