Written Question·Department for Business and Trade·UIN 5666
Small Businesses: Audit
Tabled: 12 September 2024
Answered: 11 October 2024
Question
Gareth Bacon
Conservative — Orpington
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
Justin MaddersAudit 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...
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