AQIs Consultation
Published: 30 June 2022
Response deadline: 18 August 2022
| Title | FRC AQI Consultation |
|---|---|
| Format | pdf, 2.1 MB |
The FRC published a consultation on publishing firm-level audit quality indicators (AQIs) for the largest UK audit firms on 22 June 2022. It closed on 18 August 2022.
We received 23 responses to the consultation, which are available to view on this page.
FRC Firm-level Audit Quality Indicators Feedback Statement (6 December 2022)
The Feedback Statement provides an analysis and explanation of the responses received to the consultation questions and the feedback from engagement with stakeholders during the consultation period. It explains how the FRC has considered and addressed the feedback and how firms will report on the AQIs.
| Name | Feedback Statement 2022 |
|---|---|
| Publication date | 6 December 2022 |
| Format | PDF, 208.5 KB |
FRC Firm-level Audit Quality Indicators Definitions Note (24 March 2023)
The Definitions Note defines the measurement and calculation of each of the firm-level AQIs in order to ensure audit firms in scope of reporting measure their AQIs in a consistent way. An appendix included also lists out the amendments made to the list of AQIs since the publication of the Feedback Statement in December 2022, after further discussions with the firms likely to be in scope on the practicality of producing the metrics. Firms in scope will be participating in a pilot to collect the AQI data for private reporting to the FRC in June 2024, with public reporting from Summer 2025.
| Name | Firm-level AQIs Definitions Note (March 2023) |
|---|---|
| Publication date | 24 March 2023 |
| Format | PDF, 288.7 KB |