Government consultation on CMA’s audit recommendations

Stephen Griggs, Deloitte UK’s managing partner audit & assurance and deputy CEO, said:

“Today’s consultation marks a significant juncture in the audit debate and provides an important opportunity for all companies, investors and broader stakeholders to contribute their views. We would encourage all stakeholders to feed into this process, given the wide-ranging implications it will have on the audit market, the quality of audits and potentially the long-term attractiveness of the UK as a capital market. We believe that truly sustainable, workable and proportionate reforms require bringing the voice of all interested parties to this debate.”

“We have been consistent in our support for change, and positive about many of the proposals that have been put forward by the CMA. Where we disagree we have made suggestions for effective and durable alternatives. Ultimately we want to see reforms that incentivise high quality audits, increase choice and improve resilience in the market, while strengthening the reputation of the UK as a leading capital market.”

End

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