FRC welcomes independent review of its role and powers
17 April 2018
Responding to the Government’s announcement of an independent review of the Financial Reporting Council’s (FRC) operations, Sir Win Bischoff, Chair of the FRC said:
“We welcome this independent review of the FRC’s governance, impact and powers to be led by Sir John Kingman and look forward to contributing positively to it. Meeting public expectations means using our powers effectively, working closely with other regulators and identifying where gaps in those powers exist.
The review will ensure we are best placed to support UK efforts to attract investment in business for the long term.”
Notes to editors:
- The Financial Reporting Council’s (FRC) mission is to promote transparency and integrity in business. The FRC sets the UK Corporate Governance and Stewardship Codes and UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality.
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