View the statutory responsibilities Professional Bodies Supervision fulfils for the FRC.
Learn how the FRC dicharge its statutory responsibilities for oversight of the regulation of statutory auditors.
Third Country Auditors who are auditing companies listed in the UK are required to register with the ‘Competent Authority’, which is the FRC.
Local bodies appoint audit firms, which must be registered with a Recognised Supervisory Body (RSB) that has been recognised by the Financial Reporting Council (FRC) for local audit.
By agreement with the six chartered accountancy bodies, the FRC has a non-statutory role for oversight of the regulation by the professional accountancy bodies of their members beyond those that are statutory auditors.
Key Facts and Trends is a document produced annually by the FRC to provide helpful statistical data on the accountancy profession, and provide contexts to its work.
The Financial Reporting Council is responsible for independent oversight of the Institute and Faculty of Actuaries (IFoA).
The FRC has been appointed by the Secretary of State for Business, Innovation and Skills as the Independent Supervisor of Auditors General in respect of statutory audits.
The FRC has entered into agreements with the following overseas regulators on cooperation and exchange of information related to the oversight of auditors.