Audit Firm Supervision and Audit Market Supervision
As we transform towards the Audit, Reporting and Governance Authority (ARGA), the FRC has revamped the way we supervise audit firms.
Above all else, our priority is to ensure that audit firms are being run in a manner that enhances audit quality and supports the resilience of individual firms and the wider audit market. To do this, we have adopted a forward-looking supervisory approach to hold the audit firms to account for making the changes needed to safeguard and improve audit quality.
We have identified three complementary activities within the Supervision division and provided dedicated senior resources to oversee this approach. These are: Audit Firm Supervision, Audit Market Supervision and Audit Quality Review.
You can find further information about our approach to supervision here.