Small Businesses: Audit

(asked on 19th June 2025) - View Source

Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps his Department is taking to help ensure the (a) accessibility and (b) affordability of audit requirements for small and mid-sized quoted companies.


Answered by
Justin Madders Portrait
Justin Madders
Parliamentary Under Secretary of State (Department for Business and Trade)
This question was answered on 27th June 2025

Audit standards for UK companies are adopted and set by the Financial Reporting Council (FRC), with reference to internationally-agreed standards. The Government is aware of concerns about the cost and availability of high-quality audit for smaller quoted companies, and supports the FRC’s work to make sure that every UK company, including small and mid-sized quoted companies, can access good quality audit services at a proportionate cost, including through its current year-long campaign to support small and medium-sized enterprises. In addition, the Government will consider these issues as it develops legislation to reform audit and corporate governance.

Reticulating Splines