The FRC brought into force legal requirements
on the auditors of certain public interest entities to publish annual Transparency Reports in 2008, in accordance with the Statutory Audit Directive. The requirement came into force for financial years ending on or after 31 March 2010.
The FRC carries out ongoing monitoring to ensure that all relevant firms publish a report and that published reports comply with the statutory requirements. We report on the adequacy of transparency reporting in our annual reports to the Secretary of State. From time to time we also publish more detailed reports on the content of transparency reports.
Transparency reporting reviews