Building Capability in Smaller Firms
1 minute read
Introduction
The FRC is running a new initiative to support the development of the capability and quality management by small audit firms looking to establish a greater presence in the UK Public Interest Entity (PIE) audit market. The initiative will introduce a new and more proportionate supervisory approach, designed to enhance audit quality and reflect the unique needs of smaller firms.
| Name | Building Capacity for Smaller Firms launch explainer |
|---|---|
| Publication date | 11 September 2025 |
| Type | Information sheet |
| Format | PDF, 168.5 KB |
How can I participate?
Small firms will be invited to participate in a new Scalebox Programme where they will work closely with the FRC to develop their audit quality and systems of quality management and support the FRC in assessing what is proportionate in the oversight of less complex PIE entities. Whilst in the programme, the participating firms in the programme, subject to their commitment and progress, can expect a reduction in certain formal inspection, supervision and registration requirements during 2025/26 and 2026/27.
To find out more about this initiative, contact [email protected]