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Wednesday 21 October 2020 4:02 pm|Updated:Wednesday 21 October 2020 4:03 pmMPs demand update on audit reform progress from business secretaryBy: Anna MeninShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleThe business committee asked Alok Sharma for an update on the government s progress implementing audit reformAn influential committee of MPs has written to business secretary Alok Sharma to demand an update on the governmentrsquo progress implementing audit reforms following a series of high-profile accounting scandals.In a letter dated yesterday, Business Energy and Industrial Strategy BEIS committee chair Darren Jones asked Sharma to outline which reforms recommended by two recent reviews into the sector have been implemented, and which t owala he government plans to implement.Jones also asked Sharma to set out a owala timetable for the introduction of legislation required to implement some of the recommended changes to th stanley cup becher e audit sector, including the introduction of a new regulator to replace the Financial Reporting Council FRC , which has been described as toothless by MPs.Audit firms have come under increasing pressure in recent years following accounting scandals including the collapse of Patisserie Valerie, BHS and Carillion.Three government-backed reviews have called for shake-ups to the sector, but no legislation mandating change has yet been introduced. The BE
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