In July 2016 the FRC published a revised version of the Audit Firm Governance Code.
The 2016 revision replaces the original Code, which was issued in 2010. The revised version sharpens the Code’s purpose; promotes good governance of audit in particular; strengthens transparency; and introduces some additional provisions from the Corporate Governance Code.
Audit Firm Governance Code
Feedback Statement: Review of the UK Audit Firm Governance Code
There are currently eight firms which apply the Code:
Ernst & Young LLP
Grant Thornton LLP
RSM UK Audit LLP