Auditors Audit and Assurance Audit Firm Governance Code

Audit Firm Governance Code


The FRC has published the latest revision to the Audit Firm Governance Code.

We consulted on the proposed revisions to the Audit Firm Governance Code from 26 August to 18 November 2021.

The 2022 Audit Firm Governance Code version replaces the 2016 Audit Firm Governance Code, which was originally issued in 2010. This newest version of the Code is applicable for financial years beginning on or after 1 January 2023.

There is a greater emphasis in this version of the Code on the concept of public interest and in particular the role of the INEs in representing the public interest and considering what this means in the context of the firm’s audit and non-audit work.

The purpose of the 2022 revision is to strengthen the Code’s focus in areas where we identified gaps; provide greater clarity, promote good governance practice, align with the new International Standards on Quality Management (UK); and establish boundaries between the responsibilities of Independent Non-Executives (INEs) and Audit Non-Executives (ANEs) in firms with operationally separate audit practices.

There are currently nine firms which apply the Code:

  • Deloitte LLP
  • Ernst & Young LLP
  • Grant Thornton LLP
  • Mazars LLP
  • PricewaterhouseCoopers LLP
  • RSM UK Audit LLP
  • PKF

Current version of the Audit Firm Governance Code

Audit Firm Governance Code (Revised 2022) (PDF)

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Earlier versions of the Audit Firm Governance Code

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