The new Accountancy Foundation: a credible form of regulation for UK listed company audit?

Ian P. Dewing, Peter O. Russell

Research output: Contribution to journalArticlepeer-review


This paper considers the new system of regulation of the accountancy profession in the UK, based on the Accountancy Foundation. It explores how the system compares with: principles of regulation produced by the Better Regulation Task Force and National Consumer Council; stakeholder perceptions on the nature of an independent regulatory body for UK listed company audit; new and emerging developments arising from the review of competition in professions by the Office of Fair Trading; recommendations of the Company Law Review Steering Group and establishment of the Financial Services Authority; and, events set in train in the UK as a result of the collapse of Enron in the US. The paper concludes it is ironic that the new system, enthusiastically endorsed so recently by government, should be called into question so fundamentally, and so rapidly, by events outside its jurisdiction.
Original languageEnglish
Pages (from-to)231-248
Number of pages18
JournalInternational Journal of Auditing
Issue number3
Publication statusPublished - 2002

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