Human Rights Due Diligence Debate
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Lord Sikka
Main Page: Lord Sikka (Labour - Life peer)Department Debates - View all Lord Sikka's debates with the Department for Business, Energy and Industrial Strategy
Human Rights Due Diligence
Lord Sikka Excerpts(2 years, 9 months ago)
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Lord Callanan (Con)
As the noble Lord will be aware, we have just finished a consultation on the audit reform proposals, which include extending audit to some non-financial matters such as climate change. Of course, we will be very happy to consider all other proposals.
Lord Sikka (Lab) [V]
My Lords, in an earlier reply, the Minister said that he is considering enforcement issues. Given that the UK has no central enforcer of company law or regulator of corporations, and that auditors, just mentioned by him, have absolutely no expertise in human rights, how will the Government monitor compliance with and enforcement of any proposed legislation?
Lord Callanan (Con)
We are considering the issue of enforcement in the audit reform consultation that I mentioned in my previous answer. We are extending the powers of the FRC, creating a new audit reform regulator in ARGA and we will be issuing our response to the audit reform consultation later in the year.