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The UK’s diluted audit effort cuts red tape — until the next string of scandals
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fnlondon.comBrexit was supposed to make regulatory change more agile. Yet the government has been so slow with reforms to the audit regime that there is a risk that by the time it gets its act together the whole thing will have been taken over by robots.
Few concrete moves have yet been made in response to a string of audit failures four years ago. And now even one of those could be overtaken by events. In 2020, the accounting regulator, the Financial Reporting Council, ordered the Big Four firms to push through operational separation...
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