FRC finds Baker Tilly audit quality issues
The Financial Reporting Council (FRC) has found audit quality assurance issues after completing an inspection into Baker Tilly's audits.
The Audit Quality Review (AQR) team looked at six individual audit engagements including one it previously reviewed. It also reviewed the firm’s policies and procedures supporting audit quality
Baker Tilly carried out the audits of an estimated 31 UK entities as at 31 December 2012, 12 of which had securities listed on the London Stock Exchange.