Chartered Accountants Ireland has responded to the FRC Future of Audit Supervision discussion paper

Chartered Accountants Ireland has responded to the FRC Future of Audit Supervision discussion paper, published in August 2025.  Chartered Accountants Ireland is broadly in favour of the FRC’s proposed approach, which it understands the FRC intends to apply in conjunction with the Recognised Supervisory Bodies (‘RSBs’), across the UK audit market.

The Institute has noted the need for a supervision approach compatible with the requirements of the two jurisdictions in which it has supervisory obligations.  A key element of the Institute’s response is that the proposed supervisory approach must be sufficiently flexible to ensure proportionality and scalability appropriate to the size and complexity of all firms within the supervised population.