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ICAEW response to government consultation on uk audit

Author: Tom Dye

Published: 18 Mar 2021

Commenting on the ‘Restoring trust in audit and corporate governance’ consultation, announced by the Business Secretary today, Michael Izza, ICAEW Chief Executive, said:

Commenting on the ‘Restoring trust in audit and corporate governance’ consultation, announced by the Business Secretary today (THURSDAY 18 MARCH 2021), Michael Izza, ICAEW Chief Executive, said: “Modernising corporate governance is a vital part of sustaining public confidence and making Britain the best place in the world to invest and do business.

High quality audit has a key role to play in that, and this in turn requires a well-regulated and resilient audit sector. “We therefore welcome the government's commitment to reform as set out in the many detailed proposals contained in the White Paper. Once the consultation is completed, we urge ministers to get on with implementation as quickly as possible, with the establishment of the new regulator as the top priority.”



There are more than 1.8m chartered accountants and students around the world and 186,500 of them are members and students of ICAEW. They are talented, ethical and committed professionals, which is why all of the top 100 Global Brands employ chartered accountants. ICAEW promotes inclusivity, diversity and fairness. We attract talented individuals into the profession and give them the skills and values they need to build resilient businesses, economies and societies, while ensuring our planet’s resources are managed sustainably.

Founded in 1880, we have a long history of serving the public interest and we continue to work with governments, regulators and business leaders around the world. And, as an improvement regulator, we supervise and monitor over 12,000 firms, holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct.

ICAEW is proud to be part of Chartered Accountants Worldwide, a global network of 750,000 members across 190 countries, which promotes the expertise and skills of chartered accountants on a global basis. We believe that chartered accountancy can be a force for positive change. By sharing our insight, expertise and understanding we can help to create strong economies and a sustainable future for all.

*Source: CAW, 2020 – Interbrand, Best Global Brands 2019

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