A round-up of the key findings
of the Financial Reporting Council’s reports into the quality
of audit at the Big Four, BDO and Grant Thornton
FRC seeks improvements in auditor ethics
The Financial Reporting Council (FRC) is calling on the UK’s
biggest firms to improve their independence and ethical procedures,
amid concerns about the current ‘boilerplate’ approach.
In its Audit Quality Inspection Annual Report for 2012/13, the FRC
says it has Identified ‘a number of specific issues relating
to compliance with the requirements of the ethical standards’
across all firms.
These
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