The recently issued survey of companies and investors on the BEIS audit and corporate governance reform consultation revealed that both company directors and investors were concerned about the impact the policies would have.
Headline results show:
1. 59% of companies believe the reforms will have a negative impact on their growth, just 2% believe the reforms will have a positive impact.
2. Nine-tenths of companies (90%) and four-fifths of investors (81%) believe that the proposals have the potential to deter prospective individuals from seeking directorships, or existing directors retaining their directorships.
3. Nearly 9 in 10 companies (87%) and three quarters of investors (75%) agreed that the current proposals to expand the definition of a PIE would be too onerous and costly.
4. Nearly two thirds of companies (58%) indicated that they would be likely to re-evaluate the worthwhileness of their listing.
Read the full findings of the QCA BEIS Audit Reform Survey Findings.