UK Audit Reform 2023: Preparing for a New Resilience Framework

The Ivy Club, London
Wednesday, 1st March 2023

8:30 – 11:00

One of the most significant developments emerging from the government audit reform agenda is the proposal that boards write a “resilience statement” about their company’s ‘survival prospects’ as a going concern over the short and medium term.

Crucial to the resilience statement will be internal controls and internal audit work providing board intelligence on the company’s management of risk and resilience, review of operations and verifying critical information. Indeed, the system of risk management and internal controls may be key to informing a board discussion of resilience.

With watchdogs preparing to consult on resilience reporting, now is the time for internal controls teams to gain an understanding of their role in shaping resilience statements, the role of risk assessment and the contribution a reformed internal controls regime might play.

Join us at this complimentary breakfast briefing for educational and thought-provoking discussions and networking on the new resilience framework, delivered by audit and internal controls experts.

Event Agenda

08:30 - 09:00: Light Breakfast
09:00 - 09:05: Welcome | Craig Watson, Diligent
09:05 - 09:15: Introduction | Gavin Hinks, Board Agenda
09:15 - 09:45: Session 1 | Audit & Governance Reform 2023 – Preparing for Modern Resilience Reporting | Updates on UK Audit & Governance Reform 2023

  • ‘Resilience’ in the corporate world and why does it matter?
  • What is a resilience statement, which problem is it intended to address
  • What is the resilience statement’s relationship to risk assessment?
  • How might existing risk assessments need to change?
  • The potential impact of a resilience statement on an organisation’s approach to ‘resilience’ overall

09:45 - 10:10: Break
10:10 - 10:45: Session 2 | Modern Resilience & the Role of Internal Controls

  • Key steps for internal controls teams in building resilience
  • What are the challenges for internal audit functions
  • What should be included in short- and medium resilience elements?
  • The risks that need to be covered when looking at resilience reporting?
  • What is business case for undertaking the resilience report well; what value can be generated for the company?
  • How is technology shaping resilience capability?
  • Key actions for internal controls teams

10:45 - 10:50: Closing Remarks | Christopher Mills, Diligent
Networking | 1:1 Meetings continue

Reasons to attend

Network with – and learn from – your peers around the world
Hear from industry leaders and audit experts on the topics that matter most today
Learn more about digital solutions to meet your governance, risk, and compliance challenges at our product showcases
Gather best practices to enhance your effectiveness and leadership skills


Gavin Hinks

Gavin Hinks is the managing editor of Board Agenda. Hinks, an award-winning business journalist with over 20 years' experience, is the former editor of Accountancy Age and Financial Director; he has written extensively about financial and regulatory issues, corporate governance and ethical and responsible business practices. Hinks manages the editorial team at Board Agenda and produces targeted news and featured content across print and digital media, he also hosts conferences and other live events. As well as presenting several videos, Hinks has also appeared on national TV and radio as a pundit offering his insights and expert opinion on the business world today.

Michael Lucas

Michael brings 25 years of hands-on experience in the field of governance, risk and assurance, supporting Boards, Audit Committees and Executive teams as they transform their business for a digital age. A specialist in Enterprise Risk Management, he is passionate about bringing risk and assurance to life – engaging business teams in a practical, straightforward and commercial conversation. Michael left the Big 4 to become the Head of Risk and Compliance at a FTSE 30 company. He has worked internationally with some of the world’s biggest organisations, as well as in support of IPOs, and was a lead examiner for the UK Institute of Risk Management. Most recently, he worked with client organisations to enhance risk management on digital transformation programmes; to respond to emerging climate regulation; to implement proportionate approaches to business continuity and resilience; and to establish improved cyber security capabilities.

Sonya Butters

Sonya is an Internal Audit and Controls partner from the London office of Deloitte LLP and heads up Deloitte’s Controls Advisory team for Deloitte UK. Sonya is leading the Deloitte response to the UK Corporate Reforms debate and is working with the regulators and many UK companies to consider the most proportionate response for UK companies. An external audit partner for many years, PCAOB accredited, Sonja has worked with UK and US listed companies leading many first year US SOX audits and bringing practical experience of the evolution of US SOX as companies streamlined their controls to increase quality. Her UK Corporate Reform readiness experience includes leading the early implementation of a controls framework across a large global diversified group which has now progressed to testing stage and she has additional experience working with several UK plcs at early stages of their implementation journey, conducting UK Corporate Reform readiness assessments. Her current focus includes working with companies looking to implement practical financial control frameworks, respond to UK Corporate Reform compliance and modernise finance and controls functions. Sonya works with controls and finance functions to improve financial operations, embed controls, digitally enable controls, reporting and compliance, improve process efficiency and build strong compliant teams.
Simon Henry, Chair of the Audit Committee, Rio Tinto PLC

Simon Henry MA, FCMA

Simon is Chair of the Audit Committee for Rio Tinto Plc since 2017, and Senior Independent Director of Harbour Energy plc since April 2021. He is adviser to the Board of Oxford Flow Ltd, member of the board of the Audit Committee Chairs’ Independent Forum, member of the Advisory Board of the Centre for European Reform and Advisory Panel of the Chartered Institute of Management Accountants (CIMA), and trustee of the Cambridge China Development Trust. He was Non-executive Director of Lloyds Banking Group from 2014 to 2020. Non-executive Director of the UK Ministry of Defence from 2018 to April 2022. Independent Director, Petrochina from June 2017 to June 2022.

Simon has significant global experience in the oil and gas industry, having spent more than 30 years at Royal Dutch Shell plc, most notably as Chief Financial Officer, a position that he held from 2009–17. He was Chief Financial Officer and Executive Vice President, Finance, Exploration & Production from 2004–09, and prior to this he was head of Group Investor Relations from 2001–04. Simon has a BA in Mathematics and an MA from the University of Cambridge.


The Ivy Club
9 West St, London WC2H 9NE