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Inquiry into audit

A series of high-profile corporate failures highlighted the need for fundamental change and resulted in the launch of various independent reviews into reforming the audit market. These include Sir John Kingman’s reviews into the Financial Reporting Council; the CMA Market Study into the audit market; the BEIS Select Committee Inquiry into The Future Of Audit; and Sir Donald Brydon’s review into the quality and effectiveness of standards.

Read the report What auditors do: the scope of audit