When your audit team receives feedback after a cold file review, whether it’s from your regulator, or an external provider like us, it can sometimes feel like a lot to digest. The key here is not just to react to the findings but to truly understand why things happened the way they did. This is where root cause analysis (RCA) comes in—a vital tool to not only resolve issues but also enhance your firm's audit quality going forward.

Here are some practical, hands-on tips to guide you through the RCA process and turn feedback into actionable improvements, all in a friendly, no-nonsense way.

“ISA ISA Baby” is a monthly blog series focused on each of the UK ISAs: their key features, our own musings and some of the pitfalls we see through our audit file reviews and technical query FAQs. Oh and to keep your interest, each blog will end with an ‘interesting’ fact about the one and only Vanilla Ice…..

Today marks the end of the comments period for the FRC’s proposal to revise ISAs (UK) 250 Section A and Section B. In case this consultation has passed you by in the pre-Christmas rush, we’ll summarise what’s (likely) changing and how it might affect your audits when effective.