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Decisions taken by the FRC on applications for exemption from prohibition of non-audit services to PIES (31 October 2025)

DECISIONS TAKEN BY THE FRC ON APPLICATIONS FOR EXEMPTION FROM PROHIBITION OF NON-AUDIT SERVICES TO PIES

The Companies (Directors' Remuneration and Audit) (Amendment) Regulations 2025 (SI 2025/439) provides that the FRC may grant an exemption, upon request by a statutory auditor or an audit firm and on an exceptional basis, to prohibitions on the provision of non-audit services to a PIE, thus allowing the applicant to tender for the audit of that PIE.

For applications received, the FRC has committed to publishing those decisions in full, except where that would risk harming the commercial interests of an applicant.

In the quarter ending 31 October 2025 the FRC is reporting on one application granted.

1The FRC granted a waiver to Deloitte LLP in respect of independence requirements relating to the provision of non-audit services to Oxford Instruments PLC.

Financial Reporting Council 15 November 2025

13th Floor, 1 Harbour Exchange Square, London E14 9GE Tel: +44 (0)20 7492 2300 Fax: +44 (0)20 7492 2301 www.frc.org.uk The Financial Reporting Council Limited is a company limited by guarantee. Registered in England number 2486368. Registered office: as above.

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Name Decisions taken by the FRC on applications for exemption from prohibition of non-audit services to PIES (31 October 2025)
Publication date 11 November 2025
Format PDF, 104.2 KB
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