Small Businesses: Audit
Commons · Question 5666 · Tabled 12 Sep 2024 · Department for Business and Trade · Official record
Answered 11 Oct 2024
Question
Asked by Gareth Bacon
To ask the Secretary of State for Business and Trade, what steps the Department is taking to ensure audit requirements are (a) accessible and (b) affordable for small and mid-sized quoted companies.
Answer
Answered by Justin Madders, 11 Oct 2024
Audit standards for UK companies are adopted and set by the Financial Reporting Council (FRC), with reference to internationally-agreed standards. The law sets other requirements, such as which companies require audit.The Government will publish a draft A...