About the FRC FRC Structure Corporate Reporting Council

Corporate Reporting Council

The Corporate Reporting Council is advisory to the FRC Executive on the development and maintenance of high quality, effective and proportionate Standards, Guidance, SORPS and Practice Notes for accounting and narrative reporting work. In so doing the Council :

  • Provides perspective on the broader landscape affecting the quality of accounting and narrative reporting;
  • Advises on the identification of current, emerging and potential risks to the quality of accounting and narrative reporting and to the FRC’s responsibilities and strategic objectives in connection with accounting and narrative reporting matters.
  • Identifies opportunities to promote the quality of accounting and narrative reporting through Standards, Guidance and Statements of Recommended Practice for accounting and narrative reporting; and
  • Provides advice on accounting and narrative reporting matters.

The Council comprise the Chair and up to 14 other members, up to half of the membership shall be practising members of the accounting profession.  

The Financial Reporting Council assumed responsibility for accounting standards on 2 July 2012.  Accounting standards were formerly developed by the Accounting Standards Board of the FRC. 

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.

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  Role  

1.1 The role of the Council is advisory to the FRC Executive on the development and maintenance of high quality, effective and proportionate Standards, Guidance, SORPS and Practice Notes for accounting and narrative reporting work. In so doing the Council will:

  • Provide perspective on the broader landscape affecting the quality of accounting and narrative reporting;

  • Advise on the identification of current, emerging and potential risks to the quality of accounting and narrative reporting and to the FRC’s responsibilities and strategic objectives in connection with accounting and narrative reporting matters.

  • Identify opportunities to promote the quality of accounting and narrative reporting through Standards, Guidance and Statements of Recommended Practice for accounting and narrative reporting; and

  • Provide advice on accounting and narrative reporting matters.

1.2  Advice will be sought by and provided to the FRC Executive. The Board or its Committees may also seek input or advice from the Council on other matters as they see fit.

1.3  The Chair will report directly to the Board any material difference of view between the Council and the FRC Executive of which, in his/her judgement, the Board is not fully aware and, at his / her discretion, report any material concerns in relation to the performance, terms of reference or effectiveness of the Council which, in his/her judgement, have not been resolved through the annual wider Board effectiveness review process.

2  Membership

The Board shall appoint the Council Chair. The Codes & Standards Committee shall appoint up to 14 other Council members.
 
No more than half of the members of the Council shall be practising members of the accounting profession.

3  Quorum

The quorum for Council meetings shall be sixty percent of the members.

4  Secretary

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

5  Frequency of Meetings

The Council shall usually meet four times a year with other meetings called as necessary dependent on the work plan. Ad hoc meetings of sub-groups of the Council may be convened as necessary.

6  Attendance at Meetings

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

7  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 made available 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.

8  Minutes of Meetings

The Secretary shall minute the proceedings 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.

9  Responsibilities

The Council shall advise the FRC Executive on:

  1. The development of the FRC Strategy and Annual Plan in so far as it is relevant to the role of the Council.

  2. The development of the FRC Executive’s plan for Standards, Guidance and Statements of Practice for accounting and narrative reporting work including in relation to its contribution to the FRC Strategy and Annual Plan and on the implementation of the work plan as endorsed by the Board.

  3. The development and maintenance of Standards, Guidance and SORPS for accounting and narrative reporting.

  4. Proposed developments to international equivalents.

  5. The key messages to be included in FRC reports on its activities in relation to accounting and narrative reporting matters in so far as they are relevant to the role of the Council.

  6. The recognition of SORP making bodies and the approval of certain FRC statements on SORPs;

  7. Matters concerning the general effectiveness of the Council in performing its above responsibilities;

  8. Any other matters as requested by the Executive or the Board or its Committees.

10  Other

10.1     Each year, the FRC Executive shall report to the Board on its plan for Standards, Guidance and Statements of Practice for accounting and narrative reporting and seek the Board’s endorsement of those plans. The Executive’s report shall include the advice of the Council.

10.2     Council performance and its terms of reference shall be reviewed annually, including through consultation with the Council, as part of the wider Board effectiveness review process.  

10.3     The FRC Executive may appoint ad hoc groups to advise on specific issues. The members of those groups may include members of the Council. The Executive shall annually review the continuing need for any such appointed groups. 
 
Approved by the FRC Board with effect from 1 July 2018.