News
This page list press notices and announcements issued by the FRC.
1635 pages found.
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Investigation regarding an audit by Maclntyre Hudson LLP
The Financial Reporting Council (“FRC”) has commenced an investigation in relation to the audit conducted by Maclntyre Hudson LLP of the financial statements of a Public Interest Entity (as defined in the Audit Enforcement Procedure) for the year ended 31
16 May 2024
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Sanctions against Crowe U.K. LLP
Pursuant to the Crown Dependencies Recognised Auditor Sanctions Procedure, the FRC’s Enforcement Committee (the “Committee”) has concluded that Crowe U.K. LLP failed to comply with the Regulatory Framework for Auditing in its audit of Aseana Properties Li
14 May 2024
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Publication of Final Settlement Decision Notices in respect of KPMG and two former partners
Following the previous announcement on 12 October 2023 of the enforcement action taken relating to KPMG’s audits of Carillion plc, the FRC has today published the two full Final Settlement Decision Notices.
9 May 2024
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Sanctions against three audit firms over the audits of London Capital & Finance plc
The Executive Counsel of the Financial Reporting Council (“FRC”) has issued Final Settlement Decision Notices under the Audit Enforcement Procedure and imposed sanctions against three audit firms as a result of her investigation of the audits of London Ca
7 May 2024
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Roundtable invitation: Assurance of Sustainability Reporting Market Study
On the 21 March 2024, the Financial Reporting Council (FRC) announced the launch of a market study into the market for the assurance of sustainability reporting (sustainability assurance). The FRC invites stakeholders to take part in two focused roundtabl
3 May 2024
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Webinar Reminder: FRC revisions to FRS 102 - UK & Ireland accounting standards
The Financial Reporting Council (FRC) invites stakeholders to attend an upcoming webinar on its recent revisions to FRS 102 on Wednesday 15 May 2024, 11:00-12:00 (BST).
25 April 2024
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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
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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
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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
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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
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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
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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
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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