World Accounting Report

UK audit inspections

Financial Reporting Council publishes annual reports

The Financial Reporting Council (FRC) has published its annual reports setting out the results of its audit quality inspections at the seven largest audit firms in the UK. The headline news was that audit quality has improved, but that there are still inconsistencies to iron out in order to ensure that good and best practices are applied consistently both within individual firms and across the firms that were reviewed.

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