The Financial Reporting Council has published the results of a thematic review considering selected aspects of audit firms' quality control systems: see here (pdf). The FRC is calling on firms to improve their quality control systems, having found that one third of the audits sampled required more than limited improvements.
Thursday, 2 March 2017
UK: FRC calls for improvements in audit firms' quality control systems
The Financial Reporting Council has published the results of a thematic review considering selected aspects of audit firms' quality control systems: see here (pdf). The FRC is calling on firms to improve their quality control systems, having found that one third of the audits sampled required more than limited improvements.
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