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Sir Keith Skeoch: Reform Audit Now

Sir Keith Skeoch: Reform Audit Now

by Starling Insights

Starling Insights Editorial Board

Nov 08, 2023

Observations

Governance, Audit & Regulatory Failures Audit UK UK FRC Regulatory Trends

In a recent interview with Financial News, Sir Keith Skeoch, former Chief Executive of Standard Life Aberdeen (now Abrdn) and past-Interim Chair of the UK Financial Reporting Council (FRC), stressed the importance of implementing audit reform before another corporate collapse like Carillion, BHS, and Patisserie Valerie.

"The thing I'm disappointed about is the slow pace with which we seem to be moving towards legislation that gives the power to the FRC that it needs to make a difference," Skeoch said. "We would have been in a lot better place if the FRC had been given the powers it needs and deserves."

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