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Clifford Chance

Clifford Chance


Widescale audit reforms proposed by Brydon

20 January 2020

The long-awaited Report on the Brydon Review, commissioned in December 2018 in response to the perceived widening of the "audit expectations gap" following certain high profile corporate failures, was published in December 2019.

The Report makes recommendations for wholesale changes to the audit process and audit product for listed companies which are intended to provide greater assurance and to give shareholders and other stakeholders a greater say in audit, introduce additional reporting requirements for directors and pave the way for a new standalone audit profession.

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