January 2024
The FRC recently published an update of its Ethical Standard for auditors, effective from 15 December 2024.
The FRC’s update does three main things:
- First, the FRC has simplified the existing ethical standard and provided additional clarity in a limited number of areas to respond to helpful feedback from auditors.
- Second, the new standard takes into account recent revisions made to the international IESBA Code of Ethics.
- Third, the FRC has added a new targeted restriction on fees from entities related by a single controlling party.
Find out more
here.
Source: www.frc.org.uk