Sarah Rapson joined the FRC as Executive Director Supervision in September 2021. She is responsible for leading the FRC’s Supervision Division and its work to enhance audit quality both through standard setting and audit monitoring of firms; supervisory oversight of the Recognised Professional Bodies; and to promote improvement in corporate reporting through detailed technical reviews of companies’ annual reports and accounts.
by Sarah Rapson
Compendium
May 15, 2022An individual audit is, in effect, a snapshot. Once taken, it is frozen in time. Yet the audit profession is in the early stages of significant and essential change, as it moves towards a culture-based approach. The Financial Reporting Council’s regulatory approach is also adapting to take an assertive supervision and improvement approach to culture, using our ‘four faces’ framework, and this will continue to evolve as our knowledge and maturity increase. ... (cont)
