Audit Consultations

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Finance | FRC reconsults on ISA 250/270 as first plan ‘disproportionate’

After pushback about excessive rules, unusually the regulator is forced to reconsult on proposals to revise auditing standards ISA (UK) 250 and ISA (UK) 270 Revised

8 Apr 2026

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Finance | FRC to review possible use of Less Complex Entities audit rules

Launch of review of ISA for Less Complex Entities comes after widespread criticism of FRC’s refusal to adopt global standard, claiming it would create two-tier audit market

26 Mar 2026

Finance | Regulator plans to waive UK auditing standards for Chinese companies

The Financial Reporting Council (FRC) consults on temporary amendment to Third Country Auditor (TCA) rules to allow Chinese companies to use domestic auditing standards when listing

17 Feb 2026

Finance | Audit regulator to become Corporate Reporting Authority

The government plans to go ahead with overhaul of Financial Reporting Council, giving it more powers and holding directors to account with new civil sanctions, and dropping ARGA name

14 Oct 2025

Finance | Audit rules on going concern and fraud to be revised

The Financial Reporting Council (FRC) plans to update key auditing standards, ISA 240 and ISA 570, to improve transparency on fraud risks and going concern, the first changes for four years

8 Oct 2025

Finance | FRC plans major shake-up of audit enforcement

The audit regulator plans to overhaul the Audit Enforcement Procedure with a new accelerated procedure to make investigations faster

2 Oct 2025

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Finance | FRC plans shake up of audit inspections

The Financial Reporting Council (FRC) is consulting on a major overhaul of audit oversight with fewer reviews of large firm audits and graded file inspections

14 Aug 2025

Finance | Plans to add more audit rules with ISSA 5000

The Financial Reporting Council (FRC) is consulting on a proposed UK version of ISSA 5000, General Requirements for Sustainability Assurance Engagements, aimed at auditors

2 Jun 2025

Finance | TT delays results as Deloitte needs more time on audit

Listed engineering group TT Electronics plc has delayed release of annual results as auditor Deloitte needs more time to complete £2m audit

26 Feb 2025

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Finance | Simplifying SME audits ‘obvious to all… except regulator’

Audit firms have been bogged down in audit regulations for years, with several organisations calling for a simplified audit process for SMEs despite fears UK regulator will not adopt new standard

26 Feb 2025

Finance | FRC to review SME audit costs and complexity

The Financial Reporting Council (FRC) has launched a market study to find out whether the audit market ‘effectively’ serves SMEs, high costs and complexity

3 Feb 2025

Finance | Local audit overhaul gets green light

A major overhaul of local audit has kicked off with the launch of a consultation on government plans for a powerful new statutory regulator, compulsory audit committees and tougher oversight after years of chaotic performance and backlogs

19 Dec 2024

Public Sector

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Finance | FRC calls for feedback on future of digital reporting

A group of UK regulators and agencies has launched a discussion paper on how to improve the quality of digital reporting to improve corporate transparency post Brexit

15 Aug 2024