Deloitte’s commentary on the UK government’s response to the consultation on audit and corporate governance reform

Today the government has posted the answer to its consultation on auditing and corporate governance reform. Stephen Griggs, UK Managing Partner at Deloitte, said:

“This marks a major step forward in the debate on auditing and corporate governance. As we await more details on the measures and clarity on the timelines, this is an opportunity to further strengthen the UK’s business reporting system and build confidence in businesses – which need to keep pace.

“We are committed to reform and to play our part in it – we have made and continue to make significant changes to our firm. This includes the launch of our Independent Audit Governance Council, the separation of our three years before the operational separation deadline and significant investment in the development of our audit processes and technologies. The FRC has overseen these developments and will continue to do so as it transitions to ARGA, advances the measures put in place today and becomes a regulator focused on improving auditors and companies.

“Meaningful change will ultimately require policymakers, auditors, regulators, administrators and investors to work together and play their part in improving the system.”

– ENDS –

About Deloitte

In this press release, references to “Deloitte” are references to one or
Learn more about Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, and its network of member firms, each a legally separate and independent entity. please look for
a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is one of the UK’s leading professional services firms.

The information in this press release is correct at the time
to go to press.

For more information, please visit

Helen D. Jessen