Top Accounting Body Demands Audit Reforms by Next UK Government

A leading accounting body urged the next UK government to prioritize long-delayed audit policy reform and introduce mandatory corporate sustainability reporting in the run-up to a July 4 general election.

The Institute of Chartered Accountants of Scotland called the delays to adopting previously proposed audit reforms “unacceptable” as it published Tuesday a list of five key demands of the next government. The institute also singled out the need to invest in the tax system, broaden access to the accounting profession through strengthening apprenticeship programs and increasing funding for college and university courses, and improve regulation.

Calls to revamp the regulation ...