News December 2021 FRC publish Audit Enforcement Procedure feedback statement

FRC publish Audit Enforcement Procedure feedback statement

07 December 2021
The FRC has today published a revised Audit Enforcement Procedure (“AEP”) and feedback statement. This follows consideration of the responses received to the consultation launched on 22 July 2021 regarding proposed amendments to the AEP.
 
The FRC welcomes the constructive and helpful engagement from stakeholders and has carefully considered respondents’ feedback and comments. The AEP has been further amended to reflect those responses.
 
The revised AEP will come into force on 5 January 2022. Current guidance will be amended to reflect the amendments to the AEP and will be made available on 5 January.

A link to the revised AEP is available here
A link to the feedback statement is available here