The UK’s account watchdog, the Financial Reporting Council (FRC), has published revised rules around assessing fraud risks when auditing financial accounts. These are applicable for audits of periods beginning on or after 15 December 2021 with early adoption permitted. External auditors should review the standards and incorporate any new requirements into their processes.

https://www.frc.org.uk/news/may-2021/frc-issues-revised-auditing-standard-for-the-audit