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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