The FRC publishes first in a series of materials to support SMEs understand audit requirements

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Published: 19 March 2025

As part of its campaign to support small and medium-sized enterprises (SMEs) access audit services, the FRC has today published the first in its series of supporting materials to help SMEs to engage with the annual audit process effectively and confidently.

The summary document provides owners and managers, as well as other stakeholders, with an introduction to audit standards, setting out the role International Standards on Auditing (ISAs) play in delivering transparent and accountable capital markets, and setting out the process for the development of standards in both the UK and international context.

Alongside the 'Introduction to audit standards', the FRC have released a podcast episode where Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs, and Mark Babington, Executive Director of Regulatory Standards, discuss the role of audit standards and how they can be applied in a proportionate and scalable way. The FRC will continue to promote the proportionate application of ISAs and support SMEs with further supporting material in the coming months.

To engage further with the FRC and discuss this important topic, stakeholders can sign-up for roundtables or email [email protected].