PARLIAMENTARY WRITTEN QUESTION
Audit and Company Accounts (26 October 2022)

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department is taking steps to bring forward legislative proposals to make (a) resilience statements and (b) audit and assurance policies a new statutory requirement for public interest entities.

Asked by:
Darren Jones (Labour)

The Government set out its plans for audit and corporate governance reform in the 31 May 2022 Government Response to the White Paper, ‘Restoring Trust in Audit and Corporate Governance’, following a sixteen-week consultation. The Response stated that the reforms will be delivered through primary and secondary legislation and through the UK Corporate Governance Code, as well as market-driven reforms, and that companies which are large public interest entities will be required to publish resilience statements and audit and assurance policy statements. Draft legislation is being developed for publication in due course.

Answered by:
Kevin Hollinrake (Conservative)
2 November 2022