FRC releases new guidance on audit firm eligibility criteria

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20 Mar, 2023

The Financial Reporting Council (FRC) has published guidance for audit firms on eligibility criteria in the context of the firm’s system of quality management and the performance of engagements.

ISQM (UK) 1 and ISQM (UK) 2 have been reissued with updated footnotes to reflect this guidance.

A press release and the guidance are available on the FRC website.

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