Audit Reform and governance Bill Scrapped

[lizbarclaybiz]

The Governemnt has announced that it's scrapping the Audit Reform and Corporate Governance Bill. The reason given is to reduce costs on firms. This programme of refrom has been in the pipeline and kicked into the long grass several times, since the collapse of the big construction company Carillion in 2018. It took thousands of small construction firms with it and the ripples reached out as far as small micro businesses on the sidelines like cafes. This isn't good news and leaves gaps which could mean that future corporate failures have a similar impact. Cutting red tape to boost the growth agenda has consequences and there will be losers.