FRC Commentary on Recent Audit Inspections in the UK

 

The Financial Reporting Council (FRC) recently published commentary on their audit inspections for 2018/19, these principally relate to the audits of companies’ December 2017 year-ends.

In its findings the FRC found cases where auditors had failed to challenge management sufficiently on judgemental issues and noted this has been a recurring finding over a number of years and it can have many contributory factors. To read more on this please click here.