Advisory committee announced | 7 September 2026 | Audit committees

The National Financial Reporting Authority (NFRA) announced an Advisory Committee on Audit Quality, Assurance and Technology on 7 September. The committee will advise on how audits are conducted, the standards and controls supporting their quality, and risks arising from the use of technology by companies and audit firms.

Its remit includes auditing and ethical standards, risks requiring closer examination in particular sectors, and the use of data analytics, automation, AI and machine learning in audit work. It also covers cybersecurity and cloud risks affecting audit systems, protection of client information and audit documentation, and the implications of companies’ own technology systems for the evidence auditors obtain.

These subjects bear directly on audit committee discussions with external auditors. As more transactions and controls operate through software, committees need to understand how auditors test those controls, establish that the data they use are complete and reliable, and review conclusions generated with automated tools. NFRA’s subsequent work may help committees assess whether audit methods are keeping pace with the company’s systems and financial reporting risks.

Sources: NFRA announcement | Committee and terms of reference