FRC publishes report setting out examples of good practice to improve auditor scepticism and challenge
28 Nov, 2022
The Financial Reporting Council (FRC) has published a report setting out examples of good practice to improve auditor scepticism and challenge.
The report highlights that the most significant quality issues identified by the FRC over a number of years involve the inconsistent application of professional scepticism and challenge, resulting in the poor application of professional judgement.
The report sets out the key attributes of a high-quality environment that enable professional scepticism and challenge in an audit and provides examples of good practice from the FRC’s ongoing supervision work.
A press release and the full report are available on the FRC website.
