“It’s more than five years since the collapse of Carillion and although there has been progress on corporate governance reform it has been uneven and remains incomplete. The FRC has done its best with the powers at its disposal, but the primary legislation to set up the new statutory regulator - ARGA - is now long overdue. With his experience at the CAA behind him, we hope that the new chief executive will press for ARGA to be established and then make it the kind of forward-looking improvement regulator the sector needs.
“We would like to thank Sir Jon Thompson for his leadership of the FRC through a period of momentous change for audit, reporting and governance regulation.”
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