The Financial Reporting Council (FRC) has found a number of areas that need to be addressed in its annual review of the Big Four’s audit offering. Overall the auditing by major firms is improving, however, a third of audits (33%) carried out by eight of the UK’s leading audit firms failed to meet the regulator’s quality standards – including 10 that required significant improvements.

We break down the review firm by firm.

This article was originally published in Economia. You can read the full text here.