FRC Review of 2016 Audit Standards
Released 20 November 2018
The Financial Reporting Council (FRC) is calling for feedback on the impact of the changes to ethical and auditing standards in 2016.
The FRC is seeking evidence to inform a post implementation review to determine how effective the changes to ethical and auditing standards in 2016 have been in delivering high quality audit, and whether further steps are now needed to strengthen auditor independence, reduce conflicts, improve quality and preserve trust in independent audit. The standards were introduced to support the implementation of new UK legislation in June 2016 addressing the requirements of the EU’s Audit Regulation and Directive.
For more information, see Review of 2016 Audit Standards.