Technical roundup 26 April

Apr 24, 2019

Developments of interest this week are set out below.   

Ireland 

UK

  • Following the announcement in December 2018 of the appointment of Sir Donald Brydon by the UK Department for Business, Energy & Industrial Strategy (BEIS) to carry out an independent review into the quality and effectiveness of audit, the Brydon Review issued a call for evidence on 10 April 2019.   The consultation document contains 60 consultation questions on a wide range of matters. Find out more here about this review, and an update on other recent developments including the Kingman review, the Competition and Markets Authority review, and the report on ‘The Future of Audit’ issued by the UK Business, Energy and Industrial Strategy Committee.
  • The Financial Reporting Council (FRC) has commented on the CMA's proposals in its recently issued final report on competition in the UK audit industry.
  • The FRC has appointed Richard Lawrence to the Audit & Assurance Council from 1 April 2019. Richard is currently the Head of Accounting & Valuation Policy at The Royal Bank of Scotland Group plc (RBS), a role he has held since 2017.