The UK’s Financial Reporting Council (FRC) has published a Collection of Perspectives regarding best practices to in promoting work cultures that lead to improved audit quality. The FRC had found that, in recent years, audit work quality was well below standards in about a third of all audits. The UK industry is facing calls for reform.
The Collection includes contributions from academics, audit firms, company directors, regulators, culture change experts, and other parties within the audit ecosystem. Startling CEO, Stephen Scott, and advisor, Mark Cooke, were invited to contribute thoughts on the role of regulators in promoting effective work cultures in the audit sector.
The full Collection of Perspectives is available at this link.