Accounting and Reporting Policy

Our work supports the FRC’s objective of “promoting transparency and integrity in business” through the following activities:

UK Accounting Standards

Develop and maintain UK and Irish accounting standards by developing and issuing accounting standards and undertaking outreach with stakeholders. Read more​

 

IFRS Influencing

Monitor and influence the IASB by responding to their consultations, undertaking outreach with stakeholders and liaison with EFRAG and other national standard setters. Read more

 

Wider Corporate Reporting

Improve the quality of annual reports by developing and maintaining Guidance on the Strategic Report, undertaking thought leadership initiatives such as Clear & Concise and undertaking outreach with stakeholders. Read more

 

XBRL FRC Taxonomies

Develop and maintain Taxonomies. Read more

 

Research Activities

Identify and assess opportunities for improving the quality of financial reporting by undertaking thought leadership projects, responding to consultations, influencing the IASB, undertaking outreach with stakeholders and liaison with academics. Read more
 

Financial Reporting Guidance

The 'true and fair' concept has been a part of English law and central to accounting and auditing practice in the UK for many decades. Read more

UKEB Due Process Oversight

Under the terms of a memorandum of understanding (MoU) between the Secretary of State for Business, Energy and Industrial Strategy (BEIS), the FRC and the UK Accounting Standards Endorsement Board (UKEB), the FRC is responsible for overseeing the UK Endorsement Board’s adherence to due process in its research, influencing and endorsement work. The MoU can be viewed here, and the UKEB can be viewed here. 

Accounting and reporting framework for the construction and business support services sectors.  Read more