Annual Reports to the Secretary of State
Published: 1 October 2023
3 minute read
We report annually to the Secretary of State in our role as Independent Supervisor of Auditors General and on our Professional Oversight Responsibilities.
Report of the Independent Supervisor on Auditors General
The Financial Reporting Council (FRC) had been appointed as the Independent Supervisor of Auditors General. This includes the Comptroller and Auditor General (C&AG) and the Auditors General of Scotland and Wales and the Comptroller and Auditor General for Northern Ireland, in respect of their work as statutory auditors of companies under the Companies Act 2006 (the ‘Companies Act’, or ‘the Act’).
Under section 1231 of the Act, the FRC is required to report annually to the Secretary of State on the discharge of these functions.
| Name | Report of the Independent Supervisor on Auditors General Pursuant to Section 1229(5A) of the Companies Act 2006 |
|---|---|
| Publication date | 29 November 2023 |
| Format | PDF, 1.4 MB |
| Name | Report of the Independent Supervisor on Auditors General Pursuant to Sections 1231(1) and 1231(2) of the Companies Act 2006 |
| Publication date | 29 November 2023 |
| Format | PDF, 1.3 MB |
| Name | Report of the Independent Supervisor on Auditors General (HC 776) |
|---|---|
| Publication date | 22 November 2022 |
| Format | PDF, 1.4 MB |
| Name | Report of the Independent Supervisor on Auditors General (HC 752) |
| Publication date | 21 October 2021 |
| Format | PDF, 1.5 MB |
| Name | Report of the Independent Supervisor on Auditors General (HC 817) |
| Publication date | 5 November 2020 |
| Format | PDF, 248.4 KB |
Report on the FRC’s Professional Oversight Responsibilities
The FRC has both statutory and non-statutory oversight responsibilities in relation to the accounting and actuarial professional bodies.
It produces an annual report to the Secretary of State on how it has discharged its responsibilities in this area, which covers:
- statutory oversight of the audit regulatory work performed by the Recognised Supervisory Bodies (RSBs) and Recognised Qualifying Bodies (RQBs) in relation to corporate and local audit;
- the administration of the Third Country Auditor (TCA) regime for auditors based outside the UK who audit entities with a listing on a regulated market in the UK; and
- oversight by voluntary agreement of aspects of regulation by professional bodies, that are members of the Consultative Committee of Accountancy Bodies (CCAB), in relation to the accountancy activities of their members.
- oversight by voluntary agreement of the regulatory responsibilities of the Institute and Faculty of Actuaries (IFoA) in relation to its members;
| Name | The Financial Reporting Council’s report on its oversight of the professional bodies during 2022/23 |
|---|---|
| Publication date | 29 November 2023 |
| Format | PDF, 6.2 MB |