Statutory Auditors Transparency Reporting
Published: 25 September 2023
1 minute read
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. The new requirement came into force for financial years ending on or after 17 June 2016.
The FRC carries out ongoing monitoring to ensure that all relevant firms publish a report and that published reports comply with the statutory requirements. From time to time we also publish more detailed reports on the content of transparency reports.
Transparency reports which comply with the new rules mandated by EU Regulation 537/2014 Article 13 will apply to financial years commencing on or after 17 June 2016. Any transparency reports corresponding to financial years which commenced prior to this date can be published in accordance with the requirements of the 2006 Audit Directive.
Statutory Auditors Transparency Reporting Project
In 2014 the FRC reviewed the quality of the transparency reports produced by the auditors of public interest entities to meet the statutory requirements. This was the third such report produced by the FRC having published reviews in 2008 (when the reports were produced on a voluntary basis) and 2009/10, the first year of mandatory reporting.
|Name||Transparency Reporting by Auditors of PIEs: Review of Mandatory Reports 30 March 2015|
|Publication date||30 March 2015|
|Format||PDF, 470.8 KB|
|Name||Transparency Reporting by Auditors of PIEs: Review of Mandatory Reports 13 May 2010|
|Publication date||13 May 2010|
|Format||PDF, 266.4 KB|
|Name||Transparency Reporting by the Largest UK Audit Firms: Commentary on 2008 Reports 01 June 2009|
|Publication date||1 June 2009|
|Format||PDF, 399.5 KB|
|Name||Transparency Reporting by Auditors of PIEs: Next Steps 29 May 2007|
|Publication date||29 May 2007|
|Format||PDF, 151.1 KB|
|Name||Transparency Reporting by Auditors of PIEs 11 August 2006|
|Publication date||11 August 2006|
|Format||PDF, 566.0 KB|