News August 2021



23 July 2021
The Financial Reporting Council (FRC) has today published its annual inspection and supervision results for 2020/21 covering the seven largest audit firms: BDO, Deloitte, EY, Grant Thornton, KPMG, Mazars and PwC. The 2020/21 results show that nearly one third of audits inspect...
News - Accounting - Audit Monitoring - Auditing
22 July 2021
The Financial Reporting Council (“FRC”) operates the Audit Enforcement Procedure (“AEP”). The FRC has reviewed the AEP and intends to amend it. Through this consultation, the FRC seeks feedback and comment on these proposed amendments.  The FRC would particularly welcome th...
News - Discipline
20 July 2021
There has been a step change over the past decade with UK Listed company boards becoming more diverse than ever before, primarily as a result of the Hampton Alexander review and more recently the Parker review.   The research published today by the FRC in conjunction with Lo...
News - Corporate Governance
19 July 2021
The Financial Reporting Lab (the Lab) has today published its latest report on reporting on stakeholders, decisions and Section 172. The report highlights that information on stakeholders and on decisions can help investors understand how a company is progressing in fulfilling...
News - Corporate Reporting
19 July 2021
Join the FRC in partnership with London Business School Leadership Institute and SQW on July 21st, from 2pm-3pm, to launch the ‘Board Diversity and Effectiveness in FTSE 350 Companies’ research report. Diversity is a powerful force and contributes to the success of societies a...
News - Corporate Governance
14 July 2021
New data from the Financial Reporting Council (FRC) has revealed the challenger audit firms have increased their share of FTSE 250 audits, up from 4.8% to 7.6%, however all FTSE 100 companies continue to be audited by a Big Four firm. The FRC’s latest Key Facts and Trends in t...
News - Accounting - Auditing
13 July 2021
The Financial Reporting Council (FRC) has today announced the appointment of Sarah Rapson as the new Executive Director, Supervision.
News - Accounting - Audit Monitoring - Auditing - Corporate Reporting - Financial Reporting
9 July 2021
The Financial Reporting Council (FRC) has today issued revised quality management standards for an audit firm’s responsibilities to design, implement and operate a system of quality management.
News - Accounting - Assurance - Auditing - Financial Reporting
9 July 2021
The UK Endorsement Board (UKEB) invites stakeholders to an interactive panel discussion on the IASB’s Third Agenda Consultation. This is a key opportunity for UK stakeholders to help shape the future of financial reporting.
News - Accounting
7 July 2021
The FRC has today published the FRC Statement of Intent on Environmental, Social and Governance challenges. This paper sets out areas in which there are issues with ESG information if companies are to report in a way that meets the demands of stakeholders, how to address some ...
News - Corporate Reporting