Instilling a culture of integrity, compliance and quality is essential at audit firms, particularly in light of the introduction of the 2024 Revised FRC Ethical Standard which applies to all individuals and firms carrying out audits and other public interest assurance engagements.

The FRC Ethical Standard sets out the overarching principles, supporting ethical provisions, general requirements and guidance to establish a framework of ethical outcomes that are required to be met by the auditor, to provide a basis for user trust and confidence in the integrity and objectivity of the auditor.