FRC publishes annual review of competition in the audit market
18 Dec, 2023
The Financial Reporting Council (FRC) has published an updated overview of competition in the UK's audit market for public interest entities.
In December 2022, the FRC published a policy paper providing an overview of its approach to competition in the audit market. The policy paper set out the need for a market that consistently delivers high quality and is resilient. The policy paper covered:
- The FRC’s approach to competition in the audit market;
- Recent developments with competition in the audit market; and
- The FRC’s current work on competition in the audit market.
The latest update provides a high-level summary of the recent developments in the audit market and the FRC's work to help realise a well-functioning audit market.
Feedback and comments are welcomed by 29 February 2024.
A press release and the snapshot are available on the FRC website.
