Core Points - The Financial Reporting Council (FRC) has revised its International Standards on Auditing (UK) [ISAs (UK)] to enhance quality control processes for audit firms [1][2] - The amendments to ISQM (UK) 1, ISQM (UK) 2, ISA (UK) 220, and ISA (UK) 600 were approved following public consultations and have effective dates of 15 December 2022 and 2023 respectively [2] - The updated standards provide a framework for auditors, detailing objectives, requirements, and application guidance for reliable audits [3] Group 1 - The FRC's responsibility includes creating and maintaining auditing standards for public interest engagements within the UK [2] - The UK ISAs and International Standard on Quality Control are based on globally recognized standards issued by the International Auditing and Assurance Standards Board [3] - The adoption of these standards in the UK is conducted with the consent of the International Federation of Accountants (IFAC) [4] Group 2 - The FRC has initiated the Innovation and Improvement Hub to foster collaboration among market participants for problem-solving [4] - This project consolidates existing FRC programmes, including the Audit Sandbox and Scalebox, into a unified structure for regulatory support [4]