Accounting and Reporting Policy
Our work supports the FRC’s objective of “promoting transparency and integrity in business” through the following activities:
Develop and maintain UK and Irish accounting standards by developing and issuing accounting standards and undertaking outreach with stakeholders. Read more about UK Accounting Standards
Monitor and influence the IASB by responding to relevant consultations, undertaking outreach with stakeholders and liaison with other national standard setters. Read more about IFRS Influencing
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 about Wider Corporate Reporting
Develop and maintain Taxonomies. Read more about XBRL FRC Taxonomies
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 about Research Activities
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 about Financial Reporting Guidance
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. For more information about the FRC’s oversight of UKEB visit the UKEB Due Process Oversight page.
Accounting and reporting framework for the construction and business support services sectors. Read more