Improvements at KPMG resulted in each of the four largest audit firms returning no audits requiring significant improvement during an inspection cycle for the first time in the last five years, according to the U.K. Financial Reporting Council’s (FRC) latest quality review results.
Deloitte, EY, KPMG, and PwC were each praised for the positive results of their reviews, along with Grant Thornton UK. BDO and Mazars, meanwhile, will be subject to increased monitoring after returning “unacceptable” results.
