Consultations on Audit Enforcement Procedure, Schemes and Regulations

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2025

Following a broader review of its end-to-end enforcement processes, the FRC issued a consultation on proposed updates to its routes to resolution under the Audit Enforcement Procedure (AEP) in October 2025. The consultation focused on proposed changes to the AEP to facilitate further improvements to the end-to-end process including making more explicit how the public interest is embedded in the decision-making process, enabling the faster completion of cases and delivery of outcomes, and providing a more graduated range of interventions to resolve cases according to their individual facts.

Audit Enforcement Procedure: Consultation on proposed updates to the FRC’s routes to resolution

2022

Following the introduction of the revised Audit Enforcement Procedure in early 2022, the FRC had planned to consult on the implementation of provisions for joint tribunals. As part of ongoing preparations for the introduction of ARGA, the FRC has been focused on the creation of a new statutory regime for enforcement including accountants. In the absence of current cases that might be subject to a joint tribunal, the FRC has decided to defer the consultation and the implementation of Rules 153 – 160 of the AEP for the time being.