Deloitte response to the Business, Energy and Industrial Strategy (BEIS) Committee’s report on the Future of Audit

Stephen Griggs, Deloitte’s UK managing partner for audit, said:

“We have been consistent in our support for reform. We need to create a world-leading audit product that works in the public interest, supports the continuous improvement of audit quality and preserves the future success of one of the UK’s leading sectors and the attractiveness of the country as a place to invest.

“We welcome many of the recommendations, including extending the scope of the audit and better regulation of audit, but we have concerns about a potential structural split. This will be detrimental to audit quality and could materially damage the UK’s competitive position as a leading capital market.”

Ends

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