FRC issues revised guidance for recognising Key Audit Partners for local audit
06 Jul, 2022
The Financial Reporting Council (FRC) has issued revised guidance for the Recognised Supervisory Bodies ('RSB's') on the recognition of Key Audit Partners for local audit.
The revised guidance has been issued, following a public consultation, to address a recommendation made by Sir Tony Redmond in his review into the effectiveness of external audit and transparency of financial reporting in local authorities.
It applies to all applications received by the RSBs from 30 June 2022.
The revised guidance, feedback statement and consultation responses are available on the FRC website. The review report by Sir Tony Redmond is also available on the FRC website.
