FRC aims to increase audit competition
As part of the Financial Reporting Council’s (FRC) ongoing work to strengthen oversight of audit, this week it published a high-level policy paper outlining a number of recommendations to increase competition in the UK audit market.
The paper outlines the FRC’s current approach to competition in the audit market, setting out the current status quo and the steps the FRC argue need to be taken to get to develop a market where competition and regulation combine to drive up audit quality and market resilience.
Like many, we are watching progress with interest.
Read more here.