The Financial Reporting Council (FRC) has unveiled a new initiative aimed at bolstering the capabilities and quality management of smaller audit firms seeking to expand their footprint in the UK Public Interest Entity (PIE) audit sector. As part of the initiative, the regulator will introduce a novel supervisory approach tailored to elevate audit quality while accommodating the distinct needs of smaller firms. Eligible smaller firms will be invited to join the Scalebox Programme, collaborating with the F ...