Between January and March 2026, ACCA responded to the following consultations:

Department for Business and Trade (DBT)
Refining our competition regime: Driving growth and enhancing competition for businesses and consumers
We recognise the positive role of regulation on the UK’s position in the global marketplace. In a changing world on trust, sustainability, and AI, effective regulation can give businesses the confidence to grow and invest. It is for this reason that we support proposed improvements to the UK’s competition regime, especially those that stand to deliver faster decision-making and greater consistency.

Financial Conduct Authority (FCA)
Aligning listed issuers’ sustainability disclosures with international standards
We support the fact that the UK Sustainability Reporting Standards (UK SRS) are based on the IFRS Sustainability Disclosure Standards (ISSB Standards) and commend the FCA’s continued progress in advancing high quality sustainability disclosures in the UK. This is essential for improving transparency for investors, facilitating the transition to a more sustainable economy, and supporting the ambitions of the UK’s Modern Industrial Strategy 2025.

HM Treasury
Tax support for entrepreneurs: Call for evidence
This sought to gather views and evidence on tax policy support for investment in high-growth UK companies. We agreed that tax support for entrepreneurs can have significant impact on start-up and scale-up capital, but we strongly believe that to nurture growth, action is needed to strengthen and simplify the regulatory framework through a programme of tax simplification. This would provide transparency and certainty on the future treatment of major taxes.

Solicitors Regulation Authority
Further consultation on client money in legal services: Protecting client money that solicitors hold
This was a follow-on consultation seeking views on improvements to the accountants’ reporting regime and strengthening the checks and balances provided by compliance officers. We support the re-introduction of the requirement for all accountant’s reports to be submitted to the SRA and proposals to introduce mandatory annual declarations from client money-holding firms.

Transition Finance Council (TFC)
Transition Finance Guidelines (the Guidelines) and Transition Finance Implementation Handbook
We commend the TFC for its leadership in seeking to develop a coherent, credible and practical framework to support the growth of transition finance in the UK and beyond. ACCA supports the objectives of the TFC and its work to improve confidence and consistency in the transition finance market. Greater transparency in reporting and a more consistent approach to transition finance are essential to delivering the roadmap and recommendations of the Transition Finance Market Review and to supporting the UK’s ambition to position itself as a leading centre for raising and deploying transition finance.

House of Lords Industry and Regulators Committee
Inquiry into the relationship between regulators and economic growth
We believe that proportionate and effective regulation is crucially important—it supports the public interest and the reputation of a profession. We note that the inquiry is focused on regulators and the efficiency of regulatory processes. ACCA contends that it is often the cumulative burden of regulation that poses the greatest difficulty to smaller businesses—rather than individual regulations. The tax system is one such example, where piecemeal changes cascade downward, increasing complexities and small-scale errors requiring compliance. In this context, regulators can support businesses by adopting the ‘Think Small First’ principle, making certain that business guidance is proportionate, practical and achievable. ACCA believes that an integrated approach to regulation can give businesses more certainty and stability.

House of Lords Industry and Regulators Committee
We submitted additional comments to the Chair of the Committee welcoming the committee’s focus on ensuring the government’s Regulatory Action Plan delivers on its vision of re-energising the regulatory system.

Financial Reporting Council (FRC)
Enhancing auditor’s reports – proposed revisions to UK Auditor Reporting Standards
We are very supportive of the stated objectives of these proposed revisions as outlined in the consultation ie to simplify and declutter the auditor’s report and, increase the quantity of useful information for users of the auditor’s report. Any updates to the auditor’s report that enhance transparency, promote useful information for decision-making and contribute to the user’s understanding of the audit are welcomed.

ISA (UK) 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements and ISA (UK) 570 Going Concern – Consultation on proposed revisions
We agree with the FRCs proposal to converge ISA (UK) 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements and ISA (UK) 570 Going Concern with the international equivalent standards. Convergence of international and national standards enhances audit quality and uniformity of practice throughout the world and strengthens public confidence in the global auditing and assurance profession.

Proposed updates to FRC Audit Enforcement Procedure (AEP)
We believe the introduction of additional disposal options within the FRC’s AEP provide proportionate and pragmatic alternatives to traditional enforcement routes. These options will enable the regulator to engage with statutory audit firms and auditors in a more flexible manner, while ensuring that the public interest is protected.

ACCA responds to a number of consultations during the year; if you have any particular feedback or case studies that would be useful for our responses, please contact us on UKPolicy@accaglobal.com.