Audit, Assurance and Ethics

The FRC develops and maintains auditing and assurance standards for engagements performed in the United Kingdom's public interest.

Auditing Standards

View current auditing standards for periods commencing on, or after 15 December 2019. Superseded auditing standards are also available.

Assurance Standards

View current assurance standards including Standards for Investment Reporting, and Review Standards for Interim Financial Statements.

Auditor’s Responsibilities for the Audit

The current version of the “Description of the auditor’s responsibilities for the audit of the financial statements”.

Competition Policy

Find out how the FRC is helping to reform competition policy to improve competition and choice in the audit market.

Audit & Assurance Sandbox

A collaborative space to develop solutions to technical and policy issues. Learn about our current and completed initiatives, and how to get involved.

Processes in Relation to PIE Audits

Read about the processes related to Public Interest Entities (PIE) Audits and view the applications that have been approved.

Audit Firm Governance Code

View the current version of the Audit Firm Governance Code along with all previous versions and consultations.

Role of the FRC as Competent Authority

The FRC has been designated as the Competent Authority for Audit in the UK and as such has the authority to determine the technical standards to be applied for statutory audits of companies in accordance with the Companies Act 2006.

Audit and Ethical Guidance

The FRC has published a range of guidance materials, including Practice Notes, Bulletins and Staff Guidance Notes.

Auditor reporting: a review of current practice

In August 2022, the FRC published a series of infographic ‘snapshots’ on the current state of auditor reporting in the UK.

Ethical Standard for Auditors

The Ethical Standard applies in the audit of financial statements and other public interest assurance engagements in both the private and public sectors.

Audit Committees

We have produced guidance relating to Audit Committees, and published a Standard for Audit Committees relating to the external audit.