Those following the Audit, Reporting and Governance Authority (ARGA) saga should take a look at the comments which Richard Moriarty, chief executive of the Financial Reporting Council, made earlier today when speaking to the House of Commons Business and Trade Committee (see 26 March 2024 - Delivering audit reform: follow-up - Oral evidence - Committees - UK Parliament). Using a memorable turn of phrase he commented that “At the moment, I'm sheriff for only half the county and my arsenal is weaker than other regulators.” 

The FT article which covered the session can be accessed here UK accounting watchdog warns he is ‘sheriff for only half the county’.

Our earlier post Audit and corporate governance reform: ARGA on hold, Nick Graves ( has the background.

Further information: If you would like to discuss , please speak to your usual contact at Burges Salmon or contact Nick Graves, head of the firm's Corporate Department.