UKSA’s policy team are drafting a reply, jointly with ShareSoc, to the FRC’s consultation on proposed revisions to the Audit Firm Governance Code see https://www.frc.org.uk/getattachment/1a453bac-671f-4375-a738-9d6fc7f73262/Consultation-Proposed-Revisions-to-the-Audit-Firm-Governance-Code-(August-2021).pdf. We believe audits are important to shareholders as they underpin their confidence and trust in their companies, management and the numbers they report. In relation to audits it therefore follows that the audit regulator’s requirements for audit firms’ governance is also important and we would like to provide our thoughts to the FRC on this. We will be answering all their questions. If any members would like to provide comments, please email, before 21st October 2021, the UKSA office at firstname.lastname@example.org for passing on to the response team.
Cliff Weight, Director, ShareSoc