The Financial Reporting Council (FRC) has this week announced a package of measures to make audits more proportionate and efficient for small and medium-sized enterprises (SMEs), helping to support their growth and access to capital.

The FRC’s measures are designed to ensure audits for SMEs are more practical, proportionate and appropriate for smaller, less complex businesses.

Read the full announcement from FRC, including new guidance (Practice Note 28: Guidance for audits of small and medium-sized entities) to support auditors apply auditing standards in a way that is relative to the complexity and size of the business.