Sir Donald Brydon’s independent review into the quality and effectiveness of audit (the Brydon Review) was published yesterday – all 135 pages of it. It is an excellent piece of work covering a variety of issues and making 65 recommendations, a number of other proposals and suggestions, intended “together to stimulate improved quality and effectiveness of audit in the UK. They relate not only to the work undertaken by the auditor but to the part played by others in relation to the audit”.
If all the recommendations are adopted, they will make significant changes to a number of aspects of the work of the audit committee and of the company secretary or governance professional who supports it. Although in many cases they are applicable only to the FTSE 350, it is likely that many of the proposals will be adopted more widely across the market and across sectors.
Here you can read the entire article: The Chartered Governance Insitute