News

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

1790 pages found.

• 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

• FRC consults on proposed changes to Actuarial Standard Technical Memorandum 1

  The Financial Reporting Council (FRC) has today published a consultation paper on proposed changes to the Actuarial Standard Technical Memorandum 1 (AS TM1) (and its Annex: Exposure Draft of version 5.0 of TM1) to reflect the changes in the market conditi

  3 November 2023

• Webinar and Roundtable Invitation: FRC consultation on proposed revision to ISA (UK) 250 Section A and ISA (UK) 250 Section B

  The Financial Reporting Council (FRC) invites stakeholders to attend an upcoming webinar on its consultation to strengthen auditor requirements to detect and report material misstatements from non-compliance with laws and regulations.

  2 November 2023

• FRC report looks at "Materiality Mindset" for better corporate reporting

  The Financial Reporting Council (FRC) has today published a report looking at how companies can improve their corporate reporting by taking a more focused, strategic approach to assessing materiality.

  30 October 2023

• FRC welcomes the appointment of Alan Vallance as ICAEW’s CEO

  The Financial Reporting Council (FRC) welcomes the appointment of Alan Vallance as the Institute of Chartered Accountants in England and Wales’ (ICAEW) Chief Executive Officer, replacing Michael Izza who is due to retire in spring 2024.

  26 October 2023

• Research on the use of Artificial Intelligence and Machine Learning in UK actuarial work

  The Financial Reporting Council has today published new research examining the use of Artificial Intelligence (AI) and Machine Learning (ML) in UK actuarial work.

  26 October 2023

• New FRC research highlights ongoing gender imbalance in actuarial profession

  The Financial Reporting Council has today published new research examining gender imbalance amongst actuaries in the UK, revealing ongoing barriers for women progressing in the profession.

  18 October 2023

• FRC to strengthen auditor reporting requirements of breaches of laws and regulations

  The Financial Reporting Council (FRC) has launched a consultation to strengthen auditor requirements to detect and report material misstatements from non-compliance with laws and regulations and to clarify instances auditors should report such breaches, and other significant matters, to the relevant regulators.

  18 October 2023

• Sanctions against KPMG LLP, KPMG Audit plc and two former partners

  This Press Notice concerns the outcomes of investigations into the relevant Statutory Auditor(s). No part of this announcement should be treated as making any findings in respect of the conduct of any other persons or entities.

  12 October 2023

• UKEB and Other National Standard-Setters Publish a Joint Letter to the ISSB in Response to its Agenda Consultation

  The UKEB, the Australian Accounting Standards Board (AASB), Canadian Accounting Standards Board (AcSB), Malaysian Accounting Standards Board (MASB), and the New Zealand External Reporting Board (XRB), published a joint letter to the International Sustaina

  11 October 2023

• Webinar: FRC Annual Review of Corporate Reporting

  The FRC invites stakeholders to attend its Annual Review of Corporate Reporting webinar.

  10 October 2023

• FRC sets out reporting expectations amidst ongoing economic uncertainty

  The Financial Reporting Council (FRC) has today published its reporting expectations for companies amidst a period of high interest rates, persistent inflation and ongoing economic uncertainty.

  5 October 2023