Impact on policy
The research investigated the effect of the UK’s 2003/5 regulatory changes for UK listed companies on auditor/company interactions and on the integrity of the financial reporting process. The research convinced the House of Lords Economic Affairs Committee to extend its investigation beyond the role of auditors to the impact of the regulatory changes, particularly accounting and the financial crisis.
In 2012, Fearnley subsequently received two personal requests to submit written evidence to the Parliamentary Commission on Banking Standards (PCBS), which she did in conjunction with her Yale colleague Sunder, she also gave oral evidence to PCBS on 16 January 2013. Following this evidence, which was reported in the Financial Times, she was invited to speak at a seminar at the European Parliament in May 2013 on accounting issues and she continues to be quoted regularly in the financial press and is invited to attend and speak at investor conferences.