News

This page list press notices and announcements issued by the FRC.

1628 pages found.

• Rate Regulated Activities Economic Study

  This preliminary assessment is subject to change as the IASB deliberates on additional topics in anticipation of a standard being published in 2025.

  19 April 2024

• Sanctions against Grant Thornton UK LLP

  Pursuant to the Auditor Regulatory Sanctions Procedure, and following an inspection by the Financial Reporting Council (FRC)’s Audit Quality Review (AQR) team, the FRC’s Enforcement Committee (Committee) has concluded that Grant Thornton UK LLP failed to

  8 April 2024

• UKEB Outreach on the IASB’s Exposure Draft: Business Combinations – Disclosures, Goodwill and Impairment

  The UKEB aims to understand UK stakeholder views on the IASB’s Exposure Draft, and stakeholders are invited to participate in our outreach events, to be carried out jointly with the IASB.

  4 April 2024

• UK and Australia audit authorities sign mutual recognition agreement in further boost to UK audit market

  The UK’s Financial Reporting Council (FRC) and the Australian Securities and Investment Commission (ASIC) have today announced a Memorandum of Understanding on Reciprocal Arrangements (MOURA) making it easier for auditors to work between both countries.

  28 March 2024

• FRC revises UK and Ireland accounting standards

  The Financial Reporting Council (FRC) has today issued comprehensive improvements to financial reporting standards applicable in the UK and Republic of Ireland which are used by an estimated 3.4 million businesses.

  27 March 2024

• FRC publishes plan and budget for 2024-25

  The Financial Reporting Council (FRC) has today published its Plan and Budget for 2024-25, outlining its aims for a year of consolidation and prioritisation to support public interest outcomes and UK economic growth.

  25 March 2024

• FRC welcomes Government’s plans to legislate following Non-Financial Reporting Review

  22 March 2024

• FRC launches market study on UK sustainability assurance market

  The Financial Reporting Council (FRC) has today announced the launch of its first market study to examine the UK market for sustainability assurance services.

  21 March 2024

• Roundtable invitation: UK Stewardship Code 2020 review

  As part of the Financial Reporting Council (FRC)’s review of the UK Stewardship Code 2020, the FRC is holding a series of roundtable discussions on the efficacy of the 2020 Code. We would like to hear of any areas for potential improvement and the extent

  14 March 2024

• Future updates to Corporate Governance Code Guidance

  Following the publication of the revised UK Corporate Governance Code earlier this year the FRC updated the guidance, turning it into a live document containing links to relevant publications.

  6 March 2024

• Pre-Emption Group reports widespread adoption of new principles

  5 March 2024

• Sanctions against KPMG LLP and audit partner

  The Financial Reporting Council (FRC) has issued a Final Settlement Decision Notice (FSDN) under the Audit Enforcement Procedure and imposed sanctions against KPMG and Adrian Wilcox (the audit engagement partner) in respect of their statutory audit of M&C

  4 March 2024

• FRC welcomes Bill Butler’s appointment as Chair of Public Sector Audit Appointments

  The Financial Reporting Council (FRC) has today welcomed the appointment of Bill Butler as the new Chair of Public Sector Audit Appointments Limited (PSAA) who takes over from Steve Freer on 1 April 2024.

  1 March 2024

• Statement: FRC policy update - launch of the UK Stewardship Code 2020 review

  As stated in the FRC’s Policy Statement on November 7, 2023, and now that the revised Corporate Governance Code has been published, the FRC is undertaking a fundamental review of the UK Stewardship Code 2020 (the Code) to ensure it supports growth and the UK’s competitiveness. As part of the review process, we are seeking views from all stakeholders on whether the Code, in its current format, is being used by asset managers, asset owners and other signatories to the Code in a manner that drives better stewardship outcomes from engagement with issuers across all asset classes.

  27 February 2024

• FRC announces successful signatories to UK Stewardship Code

  The Financial Reporting Council (FRC) has today announced the successful signatories to the UK Stewardship Code following the latest round of applications. There are now 273 signatories to the Code, representing £43.3 trillion assets under management. This includes 188 asset managers, 66 asset owners and 19 service providers. 81 organisations successfully renewed their signatory status and one organisation was added*.

  21 February 2024