Audit Enforcement Procedure: Consultation on proposed updates to the FRC’s routes to resolution
Published: 1 October 2025
Response deadline: 9 January 2026
| Title | Audit Enforcement Procedure: Consultation on proposed updates to the FRC’s routes to resolution |
|---|---|
| Format | pdf, 478.5 KB |
On this page
Overview
The FRC consulted on proposed revisions to the Audit Enforcement Procedure (AEP).
The Financial Reporting Council’s (FRC) enforcement activity plays an important role in delivering its core work in support of the public interest and UK growth. In 2024, the FRC commenced a review of its end-to-end enforcement processes which considered its governance structures, decision-making processes and the operational efficiency and effectiveness of the AEP.
The FRC isconsulted on proposed changes to the AEP that will facilitate further improvement to the end-to-end process, including:
- making more explicit how the public interest is embedded in the decision-making process and in line with how the Conduct Committee currently consider cases, and introducing senior involvement of the case assessment process to give the Conduct Committee additional assurance.
- allowing the FRC through its Conduct Committee to have a more graduated and broader range of interventions available to resolve cases according to their individual facts.
- enabling the faster completion of cases and delivery of outcomes which supports the FRC’s deterrent and educative objective while reducing expenditure.
| Name | Appendix A (Audit Enforcement Procedure) |
|---|---|
| Publication date | 1 October 2025 |
| Type | Consultation paper |
| Format | PDF, 946.0 KB |
| Name | Appendix B (Table of Amendments) |
| Publication date | 1 October 2025 |
| Type | Consultation paper |
| Format | PDF, 520.2 KB |
| Name | Audit Enforcement Procedure Consultation explainer |
| Publication date | 10 December 2025 |
| Type | Information sheet |
| Format | PDF, 409.3 KB. View HTML version |
Roundtables
The FRC held a series of roundtables throughout the consultation period on proposed revisions to the Audit Enforcement Procedure, which is part of the wider end-to-end enforcement process review launched in 2024. This was an opportunity for stakeholders to share their views on the questions asked in the consultation, and explore issues in more detail.
The FRC was keen to hear feedback and comments from across the stakeholder environment, including audit firms, professional bodies, law firms and users of audited financial statements.
Roundtables took place on Microsoft Teams or in-person at the FRC's offices, and places were allocated on a first-come, first-served basis, and confirmed via email.
|
Date and time |
Group | Virtual/In person |
|---|---|---|
| Thursday 6 November 2025, 11:30 – 13:00 | Recognised Supervisory Bodies | Virtual |
| Wednesday 12 November 2025, 09:00 – 10:30 | Audit firms | In person |
| Thursday 13 November 2025, 14:00 – 15:30 | Users of audited financial statements | Virtual |
| Monday 17 November 2025, 14:00 – 15:30 | Audit Committee Chairs | Virtual |
| Thursday 20 November 2025, 09:30 – 11:00 | Audit firms | Virtual |
| Tuesday 25 November 2025, 09:30 – 11:00 | Law firms | In person |