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The Month That Was – June 2022 – Restoring trust in audit and corporate governance

Published on 18 July 2022

Welcome to Money Covered, a monthly podcast from RPC aimed at those dealing with complaints, claims and risk management in the financial services sector.

In Episode 13, Rachael Healey is joined by Cory Gilbert-Howarth and David Allinson.

Cory distils the 200 page government's response to the white paper "Restoring trust in audit and corporate governance" including its impact on audit services and the audit market, together with its impact for directors.

This includes the new 750:750 rule for public interest entities, new powers for ARGA including a function similar to the FCA's s.166 powers, the introduction of challenger firms for the audit of FTSE 350 firms and the extension of corporate reporting and its impact for directors. David then provides an update on the FCA's s.404 consultation on BSPS pension transfers and an Upper Tribunal decision resulting in fines for a number of advisers on pension transfer advice.

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