What audit and corporate governance reform means for UK businesses

In the EY UK Centre for Board Matters webcast, our panel discussed the response of the Department for Business, Energy & Industrial Strategy (BEIS) consultation on the proposed audit and corporate-governance reforms in the UK.

The panel summarised the Government’s response, followed by a lively discussion chaired by Julie Carlyle, EY UK Centre for Board Matters Leader.

Panellists:

• Kate O’Neill, Director of Stakeholder Engagement and Corporate Affairs, Financial Reporting Council (FRC)
• Eoin Parker, Director, Business Frameworks at the Department for Business, Energy & Industrial Strategy (BEIS)
• Simon Henry, Board member, Audit Committee Chairs’ Independent Forum (ACCIF)
• Andrew Walton, Head of Audit, EY UK

The forthcoming reforms are expected to have far-reaching impacts on both the current and future generations of directors and auditors. We share EY’s emerging views and our panel discussed the impact of the reforms on UK businesses. 

Topics discussed included:

• The proposed reforms to corporate governance and audit
• The impact of these reforms on UK businesses
• The actions boards will need to take