As the government consults on a raft of audit reform, Paul Brehony, partner and Kate Gee, senior associate at Signature Litigation consider whether this will result in an anticipated uptick in post-pandemic litigation against auditors
The audit world has been subject to considerable independent forensic scrutiny in recent years. The Department of Business, Energy and Industrial Strategy (BEIS) has now published its long-awaited government consultation paper on audit and governance reform. It speaks to the need to increase competition and restore trust in the audit regime, but how does the government plan to do this and why are reforms needed at all at a time when businesses are struggling because of the coronavirus pandemic?
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