Concerns rise as audit quality is inconsistent with growing gap between work at Big Four and other firms, and BDO audit quality flagged as ‘unacceptable’ in selection of audit reviews, while breaches of ethical standards remain an issue for many firms, warns Financial Reporting Council (FRC).

In a refreshed and more digestible approach to the Annual Review of Audit Quality by the Financial Reporting Council (FRC), a new single report details the full findings with more clarity than in the past but there are still stark variations between the quality of audit work examined.