BDO takes an active role in public policy

In a world that is increasingly changing, there are developments in tax, accounting and auditing which affect the lives, and livelihoods, of individuals and corporates.  There are also changes in law, both here and in the European community, regulation and governance that have a very real impact on the way companies organise themselves and on how they conduct their business.  We believe it is important that our views, and the views of our clients, are heard so that the changes that could be made in these areas are for the good, in so far as we are able to influence them.

 In formulating our public policy thinking, we have been driven by a desire to see sustainable growth in the UK economy, brought about through an effective competitive landscape for UK business and through simplification, wherever possible, of law and regulation.  These principles apply to all areas of our practice, tax, accounting or otherwise, but also apply to our own profession and the way it operates for the good of its clients.

 Our public policies are set out below, with links through to the thinking behind them:

• Financial Reporting: this area has become too complex
•  The Future of Audit: there is declining value in the current form of statutory audit, but it is important to reflect the varying needs of different companies and users of financial reports in the way auditing develops
• UK Taxation: Fiscal policy should reflect the need to make UK business more competitive
• Competition: the competitive landscape of the audit profession is structurally unsound and could restrict supply over time

As well as our public policy statements, we have made a number of submissions to various public bodies over recent months and these can be accessed in our Public Policy Submissions Centre.

Should you wish to discuss our views on these and other public policy issues, please contact James Roberts on 01293 591000 or james.roberts@bdo.co.uk, or, if you would like to discuss specific submissions, do contact the primary author listed with each one.