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379 results found.

Selected Topics

  • Supervision
  • Annual Review of Audit Quality

    In July 2026, the FRC published its Annual Review of Audit Quality, a single annual publication covering both market-wide findings and firm-specific supervision outcomes.

  • The FRC’s supervisory approach

    In March 2026, the FRC published a statement setting out details of its revised supervision approach.

  • TCA Frequently Asked Questions and Fee Guidance

    Read our FAQs and Guidance on Fees.

  • Firm Metrics

    Audit Firm Metrics provide consistent and comparable information on key factors affecting performance of large audit firms, facilitating meaningful discussions between Audit Committees, their Chairs, investors, and others.

  • Local Audit

    The FRC operated as system leader for local audit from March 2023 until 12 February 2025. System leadership responsibility has been returned to the Ministry of Housing, Communities and Local Government ahead of the establishment of the Local Audit Office.

  • Public Interest Entity (PIE) Auditor Registration

    Audit firms in scope of the PIE Auditor Registration Regulations must be registered with the FRC to undertake PIE audit work.

  • Major Local Audits Reports

    We publish an annual report on the inspection findings of Audit Quality Reviews of major local audits in England, which includes large health and local government bodies.

  • Governance, Leadership and Culture

    We promote good governance and leadership at the largest audit firms because well-governed and well-run audit firms are more likely to deliver consistently high-quality audits and to be operationally and financially resilient.

  • Risk and Resilience

    We assess and monitor various aspects of the larger firms’ operational and financial resilience.

  • Audit Market Monitoring

    Audit Market Monitoring (AMM) monitors developments in the market for statutory audit services to public-interest entities.

  • Audit Market Supervision (overview)

    Audit Market Supervision (AMS) takes a cross-firm and market-wide view of the factors that affect audit quality and the resilience of the UK PIE audit market.

  • Systems of Quality Management Monitoring

    We monitor the largest twelve audit firms’ compliance with the quality management standards (ISQM (UK) 1 & ISQM (UK) 2), which came into effect on 15 December 2022.

  • Audit Firm Resources (overview)

    In our role as an improvement regulator, we have introduced an audit firm resource hub to provide firms with an easier access to our audit-related publications on a wide range of topics.

  • Audit Thematic Reviews

    We conduct audit thematic reviews to look at firms’ policies and procedures in a specific area to make comparisons between firms, identify areas of common weakness and share good practice.

  • Third Country Auditors Regulatory Background

    The FRC has statutory powers delegated by Government to set the detailed regulatory requirements concerning the third country auditor regime in the UK.

  • Scope and limitations of a CRR review

    A review conducted by CRR does not provide any level of assurance on which reliance can be placed by a company, its directors or any other third party. This includes, but is not limited to, a company’s shareholders and potential investors.

  • Publicity, confidentiality and penalties

    Certain aspects of CRR’s interaction with companies may be made public; however, access to and disclosure of case details is strictly controlled. The FRC has no power to impose penalties on a company.

  • Communicating and interacting with CRR

    The majority of our interactions with companies are conducted through formal letters. However, in some circumstances it may be more appropriate and efficient to have face-to-face meetings with company representatives.

  • Selection and review

    We select reports and accounts and interim reports to review using a combination of risk-based and rotational review approaches. We then consider if there is, or may be, a question whether they comply with the law or other relevant reporting requirements.

  • Change of Auditor Flow Chart for Audit Firms

    A flow chart showing the process when the Auditor of Public or Private Company ceases to hold office.

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