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FRC Guidance Attempts to Address UK Audit Quality

Annual assessment suggests improvement, but PIRC argues for 'root-and-branch' review.

Following continued examples of poor-quality audits and facing mounting criticism on its role as a regulator, the UK’s Financial Reporting Council (FRC) has published a blueprint for what audit firms need to do to ensure best practice. The guidance comes at a time when the FRC itself is in the…

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