FRC notes evidence of improving audit quality and a commitment to continuous improvement

Aug 03, 2017
In the audit regulator’s second annual Developments in Audit report recently issued, the Financial Reporting Council (FRC) sets out evidence from its own and delegated audit quality reviews, thematic reviews and from audit committee and investor feedback.  Leadership of audit firms’ focus on, and investment in, improving audit quality, together with promoting a culture of continuous improvement, is beginning to pay off, particularly for audits of larger companies where the FRC has targeted improvement.