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Call for evidence

Delivering Audit Reform - terms of reference

The BEIS Committee welcomes evidence submissions which consider the following key questions:

 

  • Do the proposals from the three reviews of audit fit together as a coherent package that can deliver meaningful reform?
  • Which reforms can be delivered without legislation and what progress has the FRC made in implementing such reforms ahead of future legislation?
  • Will the reforms proposed by the audit industry itself address the failings that were identified by the reviews and the BEIS Committee’s Future of Audit Report?
  • When will the Government bring forward its proposals and the necessary legislation where required?
  • Will audit reform help track progress made by companies in meeting the UK’s Sustainable Development Goal commitments and in particular Net Zero?
  • How will audit reform fit with wider corporate governance reform?

Please note that if the Committee accepts your submission we will publish it on our website and it will be subject to parliamentary privilege. If you would like to ask the Committee to accept your submission anonymously (meaning it will be published but without your name), or confidentially (meaning it won't be published at all), please say at the start of your evidence which of these you want to request, and tell us why. In the interests of transparency, and to ensure that the Committee can make full use of evidence in its investigations, we prefer to publish evidence wherever possible. Confidentiality may limit the Committee’s ability to accept or use evidence in the inquiry.

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