|End-of-day quote - 09/23|
Thomas Cook : inquiry - Government dragging its feet on corporate reforms
|07/14/2020 | 05:17am|
The Government's response to the
In the original findings from its Thomas Cook inquiry (in
"Recent audit scandals highlight the need for the Government to tackle this issue as a matter of urgency. At a time when businesses are facing tough trading conditions and when their balance sheets are under significant pressure, it's important investors and other stakeholders can have confidence in audits.
"The Secretary of State's evidence to the BEIS Committee last week failed to give a date for when primary legislation would come forward on audit reform. While the Government has a series of priorities at the moment, given the importance of audit and the fact the Department already has a raft of practical audit measures sitting on its desk gathering dust, we should expect the Business department to show far more urgency to help drive through the reforms needed on audit and on corporate governance."
The Government response was received on
(C) 2020 M2 COMMUNICATIONS, source