8 December 2020: Sir Jon Thompson, Chief Executive of the Financial Reporting Council, answers questions on how the FRC has responded to the challenges of COVID-19, progress in audit reform, and the attractiveness of the audit profession.

Governments and regulators are considering whether to mandate shared or joint audits in an attempt to increase audit quality, competition and choice.

The overarching conclusion of this report is that, after several successive EU Directives, the process of harmonisation remains difficult to achieve because of the differences that characterise European countries.

What steps can and should audit committees, audit regulators, investors and auditors in the UK take to improve audit quality? This essay from the Audit and Assurance Faculty examines audit quality in terms of ownership, behavioural aspects, and structural drivers.

This overview explains in simple terms who does what in the financial reporting system for UK companies with full main market listings, providing context for the current inquiry into audit, including the Brydon, Kingman, CMA and BEIS reviews.

Public sector spending represents a large part of the gross domestic product of all countries and is therefore a major part of the growth and development of any economy. Local public bodies are responsible (under statute, powers delegated by central government or locally elected) for the provision of public services and for spending and receiving public money. Officials that work within these local public bodies are responsible and accountable for ensuring that public business is conducted in accordance with the law and that proper standards are maintained for the use of public money.

This special report has been written to support local public bodies when they are in the process of tendering for external audit services under the Local Audit and Accountability Act 2014. It is largely based upon recent experiences by accountancy firms, gained in tendering for NHS Foundation Trusts and other public sector procurements, learning the lessons from these procurement exercises.

This special report has been written to support local public bodies when they are in the process of tendering for external audit services under the Local Audit and Accountability Act 2014.

The changes to auditor independence requirements resulting from the new European audit Regulation and Directive

Guidance for audit committees: Guidance to assist non-executive directors on audit committees to gain an understanding of the provisions of the Combined Code on Corporate Governance

Guidance on the audit tender process from the Audit Committee Institute, part of the KPMG Board leadership Centre. Includes sample documentation.

Guidance on the audit tender process from the Audit Committee Institute, part of the KPMG Board leadership Centre.

Guidance that sets out the expectations of the IA’s members - UK institutional investors - when companies tender their audits. Its coverage includes planning the tender; tender candidates; the tender process; and the tender decision.