Britain’s auditing watchdog has revealed over half of its proposed changes to corporate governance rules are being ditched, as it described the move to omit legislation from the King’s Speech to create a more powerful accounting regulator as “disappointing”.
The chief executive of the Financial Reporting Council (FRC), Richard Moriarty, said the regulator would now press ahead with only a “small number” of the 18 proposals set out in its consultation in May.
