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Oversight

Professional Bodies Supervision
PBS ensures that the FRC may be satisfied that each Recognised Supervisory Body has the necessary arrangements in place to meet the requirements of the Delegation Agreement and should continue to be recognised as an RSB for the purpose of statutory audit.
International Agreements and Arrangements
The FRC has entered into agreements and arrangements with overseas regulators on cooperation and exchange of information related to the oversight of auditors.
Independent Supervision of the Auditors General
The FRC has been appointed by the Secretary of State for Business, Innovation and Skills as the Independent Supervisor of Auditors General in respect of statutory audits.
Approval of CPA Ireland qualification as an approved third country qualification
The FRC Board has made a declaration approving the audit qualification of CPA Ireland which is a recognised accountancy body (RAB) in the Republic of Ireland.
Memorandum of Understanding on Reciprocal Arrangements with IAASA
Since the UK left the EU, the UK and the Republic of Ireland (ROI) are third countries to each other.
FRC Statutory Regulations
Learn about the legislation which provided the statutory frame work for audit regulation in the UK.
Statutory Auditors Transparency Reporting
The FRC has implemented the legal requirements on the auditors of certain public interest entities to publish annual Transparency Reports, in accordance with the Statutory Audit Directive.
Eligibility Criteria for Statutory Auditors
Regulation 3(1) of SATCAR 2016 sets out the responsibilities of the Competent Authority.
Delegation Agreements
Under Regulation 3(1) of SATCAR 2016 the FRC is the competent authority with ultimate responsibility for the public oversight of statutory auditors and for the performance and oversight of certain audit regulation tasks.
Recognition of RSBs and RQBs
There are currently four Recognised Supervisory Bodies (RSBs) and five Recognised Qualifying Bodies (RQBs) for the purpose of statutory audit.
Respective Roles of Government, the FRC and the Accountancy Profession
View the respective roles of the Government and the FRC in relation to the regulation of statutory audit.
Professional Bodies Supervision (overview)
View the statutory responsibilities Professional Bodies Supervision fulfils for the FRC.
FRC announces areas of supervisory focus for 2024/25
News

6 December 2023
Discussing the FRC's annual Tier 1 audit firm inspections results
In this In Conversation episode, Sarah Rapson, Executive Director of Supervision at the FRC, joins Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs, to discuss the key findings from the FRC's latest Annual Report on Audit Quality in

Videos and podcasts

30 July 2024

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