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357 results found.

Selected Topics

  • Supervision
  • Audit Market Monitoring

    Our Audit Market Monitoring function focuses on monitoring emerging or growing risks in the audit market which could affect audit quality, resilience, capacity or competition.

    8 July 2024

  • Audit Market Supervision (overview)

    Audit Market Supervision takes a cross-market approach to areas of importance to audit quality and firm resilience, including firmwide inspection work to ensure compliance with the International Standard on Quality Management (ISQM 1).

    7 June 2024

  • Systems of Quality Management Monitoring

    We take a cross-market approach to monitoring Tier 1 & Tier 2 audit firms’ compliance with the new quality management standards (ISQM (UK) 1 & ISQM (UK) 2), which came into effect on 15 December 2022.

    7 June 2024

  • Audit Firm Resources (overview)

    In our role as an improvement regulator, we have introduced an audit firm resource hub to provide firms with an easier access to our audit-related publications on a wide range of topics.

    23 February 2024

  • Audit Thematic Reviews

    We conduct audit thematic reviews to look at firms’ policies and procedures in a specific area to make comparisons between firms, identify areas of common weakness and share good practice.

    23 February 2024

  • Scope and limitations of a CRR review

    A review conducted by CRR does not provide any level of assurance on which reliance can be placed by a company, its directors or any other third party. This includes, but is not limited to, a company’s shareholders and potential investors.

    28 September 2023

  • Publicity, confidentiality and penalties

    Certain aspects of CRR’s interaction with companies may be made public; however, access to and disclosure of case details is strictly controlled. The FRC has no power to impose penalties on a company.

    28 September 2023

  • Communicating and interacting with CRR

    The majority of our interactions with companies are conducted through formal letters. However, in some circumstances it may be more appropriate and efficient to have face-to-face meetings with company representatives.

    28 September 2023

  • Selection and review

    We select reports and accounts and interim reports to review using a combination of risk-based and rotational review approaches. We then consider if there is, or may be, a question whether they comply with the law or other relevant reporting requirements.

    28 September 2023

  • Change of Auditor Flow Chart for Companies

    Flow charts showing the process when the Auditor of Public or Private Company ceases to hold office.

    25 September 2023

  • Change of Auditor Flow Chart for Audit Firms

    A flow chart showing the process when the Auditor of Public or Private Company ceases to hold office.

    25 September 2023

  • Auditor Regulatory Sanctions Procedure

    25 September 2023

  • European Auditing Oversight Bodies

    UK Auditors and audit firms that audit companies with securities listed on regulated markets in an EEA country may need to register as a Third Country Auditor with the local Competent Authorities.

    25 September 2023

  • Submit Updates

    You must notify the FRC without undue delay to any changes to the information listed.

    25 September 2023

  • How to Register

    Application forms to register as a third country auditors in the UK.

    25 September 2023

  • Regulatory Background

    The FRC has statutory powers delegated by Government to set the detailed regulatory requirements concerning the third country auditor regime in the UK.

    25 September 2023

  • International Agreements and Arrangements

    The FRC has entered into agreements and arrangements with overseas regulators on cooperation and exchange of information related to the oversight of auditors.

    25 September 2023

  • Independent Supervision of the Auditors General

    The FRC has been appointed by the Secretary of State for Business, Innovation and Skills as the Independent Supervisor of Auditors General in respect of statutory audits.

    25 September 2023

  • Approval of CPA Ireland qualification as an approved third country qualification

    The FRC Board has made a declaration approving the audit qualification of CPA Ireland which is a recognised accountancy body (RAB) in the Republic of Ireland.

    25 September 2023

  • Memorandum of Understanding on Reciprocal Arrangements with IAASA

    Since the UK left the EU, the UK and the Republic of Ireland (ROI) are third countries to each other.

    25 September 2023

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