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Lord Lemos (Lab)

Speaking in the House of Lords on 31 March 2025

Debate

Audit, Reporting and Governance Authority

Contribution

My Lords, the creation of a new auditing authority was first mooted in 2018 under the last Government. Despite numerous statements that this is a priority, firm after firm has collapsed, raising new concerns about the adequacy of the UK’s auditing arrangements. While it is of course important that we get this right, can my noble friend reassure your Lordships’ House that we will not have to wait another seven years before we make progress?

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