News

This page list press notices and announcements issued by the FRC.

1728 pages found.

• UK and Switzerland audit authorities jointly approve mutual recognition of audit qualifications

  The UK and Switzerland have made arrangements for mutual recognition of statutory audit qualifications allowing auditors to work more easily in each country, boosting both countries’ audit markets.

  12 December 2023

• FRC publishes revised technical actuarial standards for the pensions sector

  The Financial Reporting Council (FRC) has today published version 2.0 of Technical Actuarial Standard 300: Pensions (TAS 300). The new version of the Standard includes revisions to ensure it remains appropriate and reflects developments in the pension ind

  11 December 2023

• FRC publishes report on the quality of major local audits amid delays in local government

  The Financial Reporting Council (FRC) has today published its annual report on the quality of major local audits, while highlighting its disappointment with the unacceptable delays in financial reporting and audit in the local government sector.

  8 December 2023

• FRC Lab insights: Structured Digital Reporting 2023

  The FRC Lab has today published its latest insight report setting out some areas of focus for companies and suggestions to optimise reporting to meet the needs of investors and other users.

  7 December 2023

• FRC announces areas of supervisory focus for 2024/25

  The Financial Reporting Council (FRC) has today announced its areas of supervisory focus for 2024/25, including priority sectors, for corporate reporting reviews and audit quality inspections.

  6 December 2023

• FRED 85 Draft amendments to FRS 101 Reduced Disclosure Framework – 2023/24 cycle

  The FRC has today issued FRED 85 Draft amendments to FRS 101 Reduced Disclosure Framework – 2023/24 cycle.

  5 December 2023

• UKEB adopts Supplier Finance Arrangements: Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures

  Published on behalf of the UKEB

  4 December 2023

• FRC publishes thematic review of audit sampling

  The Financial Reporting Council (FRC) has today published its thematic review of audit sampling. Audit sampling is a fundamental tool for auditors, allowing the auditor to draw conclusions about a population based on the sample selected.

  24 November 2023

• FRC welcomes new remit letter

  The Secretary of State for Business and Trade, Rt Hon Kemi Badenoch MP, has today issued the Financial Reporting Council (FRC) with a new remit letter updating the Government’s priorities for the FRC’s work.

  22 November 2023

• UKEB Board Member Vacancies

  The UKEB is recruiting for two Non-Executive Board Members to complement the skillset of the existing Board. The successful candidates will have experience as a preparer of accounts or an accounting firm background.

  16 November 2023

• Strides made in corporate governance reporting but more work needed to meet stakeholder expectations

  16 November 2023

• FRC publishes review of companies’ IFRS 17 disclosures

  The Financial Reporting Council (FRC) has today published its thematic review of companies’ first-time application of IFRS 17, a new and fundamental change in accounting for insurance contracts.

  15 November 2023

• Draft UKSEF Conformance Suite published

  9 November 2023

• 2024 Taxonomy Suite published

  The Financial Reporting Council has published the 2024 suite of FRC Taxonomies.

  9 November 2023

• Statement: FRC policy update

  The FRC notes that in His Majesty’s Speech to Parliament today the Government’s plan for primary legislation to modernise the regulation of audit, corporate reporting and governance has not been prioritised for the next Parliamentary session. Whilst disappointing, we are pleased that as recently as the 16th October the Government restated its continued commitment to reform and bringing forward legislation when Parliamentary time allows. There is broad stakeholder consensus that this reform continues to be necessary to restore investor and public trust following the very damaging collapse of several high-profile businesses including Carillion, BHS and Thomas Cook.

  7 November 2023