CPIA finds 19% of 2022 UK audit reform proposals have been delivered

CPIA analysis finds only 19% of the UK’s 2022 audit and corporate governance reform proposals have been implemented, after the government abandoned plans for a comprehensive bill in January 2026. Some measures — operational separation of audit arms, tighter supervision and extra director reporting — have been delivered via the FRC and auditors, and a further 12% could be implemented through consultations and putting the FRC on a statutory footing. However, roughly 69% of the reform package appears stalled, leaving gaps in director accountability and an uneven regulatory framework. For the UK 100 (the main instrument here), this regulatory uncertainty could weigh on investor confidence in UK-listed companies, particularly those where audit and governance issues are material, and may limit positive re-rating catalysts until clearer legislation or statutory changes are enacted.