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UK’s audit watchdog updates three-year plan as ARGA legislation uncertainty continues

( March 27, 2023, 08:15 GMT | Official Statement) -- MLex Summary: The UK Financial Reporting Council has published an updated three-year plan to reflect the ongoing uncertainty around legislation to replace it with a beefed-up regulator, the Audit, Reporting and Governance Authority. The FRC said it is assuming the legislation to create ARGA will come in April 2024, although it acknowledged “continued uncertainty around timing of legislation.” CEO Jon Thompson said: “We are actively working toward the goals of the reform program, and though the legislation required to establish ARGA has been delayed, the FRC remained busy throughout 2022 by concentrating on the changes we can bring about through our current powers and our remit.”Statement below and report attached....

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