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UK's FRC Proposes Auditors Publish Audit Quality Indicators

UK's FRC Proposes Auditors Publish Audit Quality Indicators

by Starling Insights

Starling Insights Editorial Board

Jul 07, 2022

Observations

UK FRC UK Audit More Meaningful Metrics Industry-Standard Metrics Governance & Metrics

The Financial Reporting Council (FRC) recently proposed that audit firms publish performance indicators in an effort to raise standards in the wake of a spate of scandals in the industry.

"The 11 proposed audit quality indicators (AQIs) would provide stakeholders with a range of comparable indicators on perceived culture within an audit firm, audit quality inspection results, staff workloads, and the level of partners’ involvement in individual audits," the FRC said in a statement.

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