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UK’s FRC publishes reforms to its Audit Enforcement Procedure

Tax forms and a calculator on a table
Regulator says enforcement ultimately serves public interest. Photo: Peter Dazeley/ Getty Images.

Hameed Shuja

2 min read
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Reforms pave way for modern framework that supports system-wide improvements and learning while taking robust response to serious or significant failures, FRC says.

The UK’s auditing regulator has published a series of reforms aimed at modernising its current enforcement framework, delivering faster outcomes and learning early lessons for the UK audit market.

The Financial Reporting Council (FRC) said the reforms to the Audit Enforcement Procedure (AEP) will update its regulatory toolkit, and are

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