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Auditors Audit and Assurance Promoting Audit Quality

Promoting Audit Quality

On 29 May 2015 the FRC issued a practice aid to assist audit committees in evaluating audit quality in their assessment of the effectiveness of the external audit process. The FRC was responding to requests for guidance in this area, in light of the UK Corporate Governance Code provision, introduced in 2012, that the audit committee report should include an explanation as to how it has assessed the effectiveness of the external audit process.

Press Notice: FRC provides aid to Audit Committees in evaluating audit quality

Audit Quality Practice Aid for audit committees (May 2015) (PDF)

Leaflet: Audit Quality Practice Aid for audit committees (May 2015) (PDF)
 

On 2 March the FRC issued its survey Extended auditor’s reports: A review of experience in the first year

Press Notice: FRC finds good take up of new auditor reporting requirements
  
Extended auditor's reports: A review of experience in the first year (April 2015) (PDF)
 

In 2008 the FRC consulted on how audit quality could be enhanced and promoted.

The Audit Quality Framework and initial feedback (PDF)
Feedback paper – Promoting Audit Quality (PDF)
Discussion paper – Promoting Audit Quality  (PDF)

Thematic inspections

Statutory Auditors Transparency Reporting

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