BEIS consultation: 

restoring trust in audit and corporate governance

  Introduction

It has been anticipated for some time and is finally here - the consultation on audit reform and corporate governance from the Department for Business, Energy and Industrial Strategy (BEIS).

The document is 232 pages long, so I wanted to share initial takeaways on the key proposals from the consultation document. I often use a mindmap to make notes to help me digest long documents, so I have shared a high level mindmap below. There is a lot to take in, but broadly the proposals seem to support the recommendations made in the Kingman and Bryon reviews, as well as the CMA's review of the external audit market.

I will share some thoughts on different elements of the proposals over the coming weeks, particularly those that I think will be  relevant to internal auditors.