By Maria Ward-Brennan An accountancy chief has called on the Financial Reporting Council (FRC) to raise the threshold for enforcement action against auditors. Speaking to the Financial Times, Michael Izza, chief executive of the Institute of Chartered Accountants England and Wales said: “Prior to 2017, if the FRC brought a case against an auditor, the threshold test that they were looking to meet was ‘misconduct’. That was lowered to non-compliance with the relevant auditing standards.” “That is now the lowest threshold of any professional in the UK. And it is our view that threshold is now to…