UK Audit Watchdog Chair Leaves After Promised Reforms Cancelled

The boss of the UK’s audit watchdog said Wednesday he was leaving, shortly after the government decided to abandon long-promised audit reforms, including creating a new, beefed up, regulator.

Financial Reporting Council Chair Jan du Plessis will step down from the role at the end of his four-year term in September, leaving the Department for Business and Trade to search for a replacement. His coming departure follows the government’s January announcement that it had scrapped audit reforms promised since 2018, including a plan to create a new, more powerful, audit regulator.

• Du Plessis “has shown strong leadership of the FRC ...