11 | Professional services
Reforming the audit industry: draft bill set to be released this Spring
A 2021 consultation on audit reform proposed the replacement of the Financial Reporting Council (FRC) with a new body with enhanced powers and an expanded remit, the Audit, Reporting and Governance Authority (ARGA), following a series of high-profile corporate failures.
Horizon scanning
SRA Fining Powers – where are we now?
The Solicitors Regulation Authority (SRA) has come under scrutiny recently in relation to its proposed reforms to strengthen its fining powers under the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) with many concerned that the proposals are potentially unlawful and that the role of the Solicitors Disciplinary Tribunal (SDT) will be substantially diminished if they go ahead.
Horizon scanning