Guidance for audit committees

The responsibilities of the audit committee include reviewing the company’s internal financial controls, monitoring and reviewing the effectiveness of the company’s internal audit function and reviewing and monitoring the effectiveness of the external audit process. The Financial Reporting Council has published guidance to assist company boards when implementing the sections of the UK Corporate Governance Code dealing with audit committees and to assist directors serving on audit committees in carrying out their role.


Financial Reporting Council and BEIS (formerly BIS) reviews

Review of the audit market by the Competition & Markets Authority (formerly Competition Commission)