FRC responds to Monitoring Group consultation on strengthening the governance and oversight of audit-related standard setting in the public interest
09 February 2018
The FRC has today expressed its strong support for the objectives of the reform proposals issued by the Monitoring Group, and has urged that momentum is maintained.
The FRC considers that reform should be extended throughout the standard setting framework, and that the Monitoring Group should articulate its reform proposals for both the Public Interest Oversight Board and the Monitoring Group itself as well as for the standard setting board. This should include an implementation timetable, which should be provided when it sets out its final reform proposals later in the year.
The FRC’s full response is available at: FRC response to the Monitoring Group’s consultation on audit standard setting reform