Financial Reporting Council

Financial Reporting Council Audit Committee Chairs' views on, and approach to, audit quality January 2022. [Type here]. Liability No party accepts any liability for any loss, damage or costs howsoever arising, whether directly or indirectly, whether in contract, tort or otherwise from any action or decision taken (or not taken) as a result of any person relying on or otherwise using this publication or arising from any omission from it. YouGov plc, 50 Featherstone Street London EC1Y 8RT. Registration no. 3607311. Copyright 2021 YouGov plc. All rights reserved. 1. Audit Committee Chairs' views on, and approach to, audit quality Contents Executive Summary .. 4. 2020 research comparison .. 6. 9. The audit landscape in 2021 .. 9. The 12. Aims .. 12. Defining a good quality 13. Differentiating between good service' and a high-quality audit' .. 16. Selecting an auditor.

ACCs put on the audit tendering process; this came out strongly in both the 2020 and 2021 research. The experience of senior auditors, their firm and the team’s history of delivering sector-relevant, quality audits again proved to be determining factors. The 2020 research also demonstrated the importance of challenging auditors at the

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