About the FRC FRC Structure Corporate Reporting Council

Corporate Reporting Council

The role of the Corporate Reporting Council is to:

  • Provide strategic input and thought leadership, both in the field of accounting and financial reporting and in the work-plan of the FRC as a whole. This will involve "horizon-scanning" and consulting with practitioners or users;

  • Consider and advise the FRC Board upon draft codes and standards (or amendments thereto) to ensure that a high quality, effective and proportionate approach is taken;

  • Consider and comment on proposed developments in relation to international codes and standards and regulations; and

  • Consider and advise on research proposals and other initiatives undertaken to inform the FRC on matters material to its remit and any resultant publications.

The Council comprise the Chair and up to eleven other members, up to half of the membership shall be practising members of the accounting profession.  Members of the Councils are appointed through an open process overseen by the Codes and Standards Committee (CSC) subject to the overall guidance of the Nominations Committee of the FRC.   

The Financial Reporting Council assumed responsibility for accounting standards on 2 July 2012.  Accounting standards that were formerly developed by the Accounting Standards Board are contained in 'Financial Reporting Standards' (FRSs). Soon after it started its activities, the Corporate Reporting Council adopted the standards issued by the ASB, so that they also fall within the legal definition of accounting standards. These are designated 'Statements of Standard Accounting Practice' (SSAPs). Whilst some of the SSAPs have been superseded by FRSs, some remain in force.

Accounting standards apply to all companies, and other entities that prepare accounts that are intended to provide a true and fair view. The Foreword to Accounting Standards explains the authority, scope and application of accounting standards.

Meetings of the Corporate Reporting Council are generally not open to the public, though agendas are published before the meetings, and minutes soon after.

Agenda and Minutes 2014-2015

 

2015

 

17 December 2015 AC agenda (PDF)
17 December 2015 AC minutes (PDF)

12 November 2015  AC agenda (PDF)
12 November 2015  AC minutes (PDF)

22 October 2015 AC agenda (PDF)
22 October 2015 AC minutes (PDF)
      
10 September 2015  AC agenda (PDF)
10 September 2015  AC minutes (PDF)
     
15 July 2015  AC agenda (PDF)
15 July 2015  AC minutes (PDF)
      
16 June 2015 - Conference Call  AC agenda (PDF)
16 June 2015 - Conference Call  AC minutes (PDF)
      
4 June 2015  AC agenda (PDF)
4 June 2015  AC minutes (PDF)
      
14 May 2015  AC agenda (PDF)
14 May 2015  AC minutes (PDF) 

4 June 2015  AC agenda (PDF)     
4 June 2015  AC minutes (PDF)

16 April 2015  AC agenda (PDF)
16 April 2015  AC minutes (PDF)      

12 March 2015 - cancelled 
      
12 February 2015 AC agenda (PDF)
12 February 2015 AC minutes (PDF)      

15 January 2015  AC agenda (PDF)
15 January 2015  AC minutes (PDF)

 

2014

 

11 December 2014 CRC agenda (PDF)
11 December 2014 CRC minutes (PDF)
      
16 October 2014 CRC agenda (PDF)
16 October 2014 CRC minutes (PDF)
      
11 September 2014 CRC agenda (PDF)
11 September 2014 CRC minutes (PDF)      

17 July 2014 CRC agenda (PDF)
17 July 2014 CRC minutes (PDF)
      
19 June 2014 CRC agenda (PDF)
19 June 2014 CRC minutes (PDF)
      
15 May 2014 CRC agenda (PDF)
15 May 2014 CRC minutes (PDF)
      
10 April 2014 CRC agenda (PDF)
10 April 2014 CRC minutes (PDF)
      
13 March 2014 CRC agenda (PDF)
13 March 2014 CRC minutes (PDF)
      
13 February 2014 CRC agenda (PDF)
13 February 2014 CRC minutes (PDF)
      
16 January 2014 CRC agenda (PDF)
16 January 2014 CRC minutes (PDF)

Agenda and Minutes 2012-2013

 

2013

 

12 December 2013 AC agenda (PDF) 
12 December 2013 AC minutes (PDF) 
  
14 November 2013 AC agenda (PDF)
14 November 2013 AC minutes (PDF)
 
17 October 2013 AC agenda (PDF)
17 October 2013 AC minutes (PDF)
  
12 September 2013 AC agenda  (PDF)
12 September 2013 AC minutes (PDF)
  
18 July 2013 AC agenda (PDF)
18 July 2013  AC minutes (PDF)
  
20 June 2013 AC agenda (PDF)
20 June 2013 AC minutes (PDF)
  
16 May 2013 AC agenda (PDF)
16 May 2013 AC minutes (PDF)
  
10 April 2013 AC agenda (PDF)
10 April 2013 AC minutes (PDF)
  
14 March 2013 AC agenda (PDF)
14 March 2013 AC minutes (PDF)
  
14 February 2013 AC agenda (PDF)
14 February 2013 AC minutes (PDF)
  
17 January 2013 AC agenda (PDF)
17 January 2013 AC minutes (PDF)

 

2012

 

  
6 December 2012 AC agenda (PDF)
6 December 2012 AC minutes (PDF)
  
15 November 2012 AC agenda (PDF)
15 November 2012 AC minutes (PDF)
  
25 October 2012 AC agenda (PDF)
25 October 2012 AC minutes (PDF)
  
4 October 2012 AC agenda (PDF)
4 October 2012 AC minutes (PDF)
  
6 September 2012 AC agenda (PDF)
6 September 2012 AC minutes (PDF)
  
26 July 2012 AC agenda (PDF)
26 July 2012 AC minutes (PDF)
  
5 July 2012 AC agenda (PDF)
5 July 2012 AC minutes (PDF)

  

 

Agendas of meetings of the ASB

 

  
14 June 2012 ASB agenda (PDF)
14 June 2012 ASB minutes (PDF)
  
24 May 2012 ASB agenda (PDF)
24 May 2012 ASB minutes (PDF)
  
12 April 2012 ASB agenda (PDF)
12 April 2012 ASB minutes (PDF)
 
15 March 2012 ASB agenda (PDF)
15 March 2012 ASB minutes (PDF)
  
16 February 2012 ASB agenda (PDF)
16 February 2012 ASB minutes (PDF)
  
19 January 2012 ASB agenda  (PDF)
19 January 2012 ASB minutes  (PDF)

Agenda and Minutes 2010-2011

 

2011

 

15 December 2011  ASB agenda (PDF)
15 December 2011  ASB minutes (PDF)

17 November 2011  ASB agenda (PDF)
17 November 2011  ASB minutes (PDF)

20 October 2011  ASB agenda (PDF)
20 October 2011  ASB minutes (PDF)

29 September 2011  ASB agenda (PDF)
29 September 2011  ASB minutes (PDF)

08 September 2011  ASB agenda (PDF)
08 September 2011  ASB minutes (PDF)

21 July 2011  ASB agenda (PDF)
21 July 2011  ASB minutes (PDF)

07 July 2011  ASB agenda (PDF)
07 July 2011  ASB minutes (PDF)

16 June 2011  ASB agenda (PDF)
16 June 2011  ASB minutes (PDF)

26 May 2011  ASB agenda (PDF)
26 May 2011  ASB minutes (PDF)

05 May 2011  ASB agenda (PDF)
05 May 2011  ASB minutes (PDF)

14 April 2011  ASB agenda (PDF)
14 April 2011  ASB minutes (PDF)

17 March 2011  ASB agenda (PDF)
17 March 2011  ASB minutes (PDF)

17 February 2011  ASB agenda (PDF)
17 February 2011  ASB minutes (PDF)

20 January 2011  ASB agenda (PDF)
20 January 2011  ASB minutes (PDF)

 

2010

 

16 December 2010  ASB agenda (PDF)
16 December 2010  ASB minutes (PDF)

25 November 2010  ASB agenda (PDF)
25 November 2010  ASB minutes (PDF)

04 November 2010  ASB agenda (PDF)
04 November 2010  ASB minutes (PDF)

12 October 2010  ASB agenda (PDF)
12 October 2010  ASB minutes (PDF)

23 September 2010  ASB agenda (PDF)
23 September 2010  ASB minutes (PDF)

02 September 2010  ASB agenda (PDF)
02 September 2010  ASB minutes (PDF)

14 July 2010  ASB agenda (PDF)
14 July 2010  ASB minutes (PDF)

17 June 2010  ASB agenda (PDF)
17 June 2010  ASB minutes (PDF)

20 May 2010  ASB agenda (PDF)
20 May 2010  ASB minutes (PDF)

22 April 2010  ASB agenda (PDF)
22 April 2010  ASB minutes (PDF)

18 March 2010  ASB agenda (PDF)
18 March 2010  ASB minutes (PDF)

25 February 2010  ASB agenda (PDF)
25 February 2010  ASB minutes (PDF)

04 February 2010  ASB agenda (PDF)
04 February 2010  ASB minutes (PDF)

14 January 2010  ASB agenda (PDF)
14 January 2010  ASB minutes (PDF)

Agenda and Minutes 2008-2009

 

2009

 

17 December 2009 ASB agenda (PDF)
17 December 2009 ASB minutes (PDF)

26 November 2009  ASB agenda (PDF)
26 November 2009  ASB minutes (PDF)

05 November 2009  ASB agenda (PDF)
05 November 2009  ASB minutes (PDF)

15 October 2009  ASB agenda (PDF)
15 October 2009  ASB minutes (PDF)

24 September 2009  ASB agenda (PDF)
24 September 2009  ASB minutes (PDF)

03 September 2009  ASB agenda (PDF)
03 September 2009  ASB minutes (PDF)

23 July 2009  ASB agenda (PDF)
23 July 2009  ASB minutes (PDF)

15 July 2009  ASB agenda (PDF)
15 July 2009  ASB minutes (PDF)

18 June 2009  ASB agenda (PDF)
18 June 2009  ASB minutes (PDF)

21 May 2009  ASB agenda (PDF)
21 May 2009  ASB minutes (PDF)

23 April 2009  ASB agenda (PDF)
23 April 2009  ASB minutes (PDF)

02 April 2009  ASB agenda (PDF)
02 April 2009  ASB minutes (PDF)

05 March 2009  ASB agenda (PDF)
05 March 2009  ASB minutes (PDF)

05 February 2009  ASB agenda (PDF)
05 February 2009  ASB minutes (PDF)

15 January 2009  ASB agenda (PDF)
15 January 2009  ASB minutes (PDF)

 

 

2008 

 

18 December 2008  ASB agenda (PDF)
18 December 2008  ASB minutes (PDF)

27 November 2008  ASB agenda (PDF)
27 November 2008  ASB minutes (PDF)

06 November 2008  ASB agenda (PDF)
06 November 2008  ASB minutes (PDF)

16 October 2008  ASB agenda (PDF)
16 October 2008  ASB minutes (PDF)

25 September 2008  ASB agenda (PDF)
25 September 2008  ASB minutes (PDF)

04 September 2008  ASB agenda (PDF)
04 September 2008  ASB minutes (PDF)

16 July 2008  ASB agenda (PDF)
16 July 2008  ASB minutes (PDF)

19 June 2008  ASB agenda (PDF)
19 June 2008  ASB minutes (PDF)

22 May 2008  ASB agenda (PDF)
22 May 2008  ASB minutes (PDF)

01 May 2008  ASB agenda (PDF)
01 May 2008  ASB minutes (PDF)

10 April 2008 ASB minutes (PDF)

13 March 2008  ASB agenda (PDF)
13 March 2008  ASB minutes (PDF)

21 February 2008  ASB agenda (PDF)
21 February 2008  ASB minutes (PDF)

31 January 2008  ASB agenda (PDF)
31 January 2008 ASB minutes (PDF)

10 January 2008  ASB agenda (PDF)
10 January 2008 ASB minutes (PDF)

 

Agenda and Minutes 2006-2007

 

2007

 

13 December 2007 ASB agenda (PDF)
13 December 2007 ASB minutes (PDF)

23 November 2007 ASB agenda (PDF)
23 November 2007 ASB minutes (PDF)

25 October 2007 ASB agenda (PDF)
25 October 2007 ASB minutes (PDF)

04 October 2007 ASB agenda (PDF)
04 October 2007 ASB minutes (PDF)

13 September 2007 ASB agenda (PDF)
13 September 2007 ASB minutes (PDF)

19 July 2007 ASB agenda (PDF)
19 July 2007 ASB minutes (PDF)

28 June 2007 ASB agenda (PDF)
28 June 2007 ASB minutes (PDF)

07 June 2007 ASB agenda (PDF)
07 June 2007 ASB minutes (PDF)

25 May 2007 ASB agenda (PDF)
25 May 2007 ASB minutes (PDF)

10 May 2007 ASB agenda (PDF)
10 May 2007 ASB minutes (PDF)

19 April 2007 ASB minutes (PDF)

29 March 2007 ASB agenda (PDF)
29 March 2007 ASB minutes (PDF)

01 March 2007 ASB agenda (PDF)
01 March 2007 ASB minutes (PDF)

08 February 2007 ASB agenda (PDF)
08 February 2007 ASB minutes (PDF)

18 January 2007 ASB agenda (PDF)
18 January 2007 ASB agenda (PDF)

 

2006

 

07 December 2006 ASB agenda (PDF)
07 December 2006 ASB minutes (PDF)

23 November 2006 ASB agenda (PDF)
23 November 2006 ASB minutes (PDF)

09 November 2006 ASB agenda (PDF)
09 November 2006 ASB minutes (PDF)

19 October 2006 ASB agenda (PDF)
19 October 2006 ASB minutes (PDF)

14 September 2006 ASB agenda (PDF)
14 September 2006 ASB minutes (PDF)

13 July 2006 ASB agenda (PDF)
13 July 2006 ASB minutes (PDF)

29 June 2006 ASB agenda (PDF)
29 June 2006 ASB minutes (PDF)

15 June 2006 ASB agenda (PDF)
15 June 2006 ASB minutes (PDF)

11 May 2006 ASB agenda (PDF)
11 May 2006 ASB minutes (PDF)

20 April 2006 ASB agenda (PDF)
20 April 2006 ASB minutes (PDF)

30 March 2006 ASB agenda (PDF)
30 March 2006 ASB minutes (PDF)

02 March 2006 ASB agenda (PDF)
02 March 2006 ASB minutes (PDF)

09 February 2006 ASB agenda (PDF)
09 February 2006 ASB minutes (PDF)

Corporate Reporting Council Terms of Reference

1. Membership

The Board shall appoint a member of the Codes & Standards Committee to be the Council Chair. The Codes & Standards Committee shall appoint up to 11 other members to the Council, subject to the agreement of the Nominations Committee to the appointment of in excess of 9 other members. No more than half of the members of the Council shall be practising members of the accounting profession. 

2. Quorum

The quorum for Council meetings shall be 5 members.

3. Secretary

The Company Secretary or his/her nominee shall act as Secretary of the Council (the Secretary).

4. Frequency of Meetings

The Council shall meet at least 6 times a year or as required at the call of the Chair.

5. Attendance at Meetings

Only members of the Council shall have the right to attend Council meetings. However other individuals may be invited to attend all or part of any meeting as and when appropriate.

6. Notice of Meetings

Unless otherwise agreed, notice of each meeting confirming the venue, time and date, together with an agenda of items to be discussed and supporting papers, shall be forwarded to each member of the Council and any other person required to attend, no later than 5 working days before the date of the meeting.

7. Minutes of Meetings

The Secretary shall minute the proceedings and resolutions of all meetings of the Council, including recording the names of those present and in attendance.  Minutes of Council meetings shall be circulated to all members of the Council and, following approval, published on the FRC website.

8. Responsibilities

The Council shall:

  • Provide strategic input and thought leadership on accounting and narrative reporting matters;
  • Consider and advise the Codes & Standards Committee on the FRC Annual Plan;
  • Consider and advise the FRC Board on draft codes and standards (including amendments and abstracts) to ensure that a high quality, effective and proportionate approach is taken;
  • Consider and comment upon proposed developments to international codes and standards and regulations;
  • Consider and advise on research proposals and other initiatives undertaken to inform the FRC on matters material to its remit and any resultant publications
  • Consider and comment on the current, emerging and potential risks to the quality of accounting and narrative reporting in the UK and the Republic of Ireland;
  • Consider and respond to any requests for advice from the Conduct Committee.

9. Reporting Responsibilities

The Council Chair shall report to the Board the full advice of the Council on any draft code or standard (including amendments and abstracts). Where the Board seeks further advice from the Council, the Chair shall report the resulting advice in full to the Board.

The Council Chair shall report to the Codes & Standards Committee on any other activity undertaken by the Council, and to the Board where appropriate.

10. Other

The Council shall have access to sufficient resources and is authorised to seek information from the FRC executive in order to carry out its responsibilities.

The Council may, under the oversight of the Codes & Standards Committee, appoint a group or standing group to advise on specific issues. The membership (which may comprise or include non-Council members) and the continuing need for the group or standing group should be reviewed after one calendar year.

Approved by the FRC Board with effect from 17 June 2016.