The FRC's International Activity
Published: 1 October 2023
1 minute read
Overview
The FRC works with international bodies to promote high-quality audit and corporate reporting. Comparability in financial reporting means that British companies can get access to capital in overseas markets. It also means that shareholders in the UK have more opportunities to invest their money.
Many of the largest accounting networks and associations have offices in the UK and come under our inspection and enforcement procedures. Our cooperation with other enforcement bodies - through the EU and internationally - strengthens this work.
As well as working with international organisations, we collaborate with other regulators and standard setters to identify common goals and reduce the risk of inconsistent requirements on those we regulate.
We have strong relationships with our EU, US and Commonwealth counterparts and we are working more and more with organisations in China, Japan and Singapore to promote trade and investment relationships with Asia.
Who we work with
- European Corporate Governance Codes Network
- European Commission
- Committee of European Audit Oversight Bodies (CEAOB)
- European Financial Reporting Advisory Group (EFRAG)
- European Parliament
- World Bank
- OECD
- IOSCO
- Financial Stability Board
- International Forum of Accounting Standard Setters (IFASS)*
- European Financial Reporting Advisory Group (EFRAG)
- European Enforcement Coordination Sessions of ESMA (EECS)
- International Federation of Accountants (IFAC)
- International Accounting Standards Board (IASB)
- International Auditing and Assurance Standards Board (IAASB)
- International Ethics Standards Board (IESBA)
- US Securities and Exchange Commission (SEC)
- International Forum of Independent Audit Regulators (IFIAR)
- US Public Company Audit Oversight Board (PCAOB)
- Federal Accounting Standards Board (FASB)
- International Actuarial Association Council (IAA)
- Standard Setters Roundtable (SSRT)
- Actuarial Association of Europe (AAE)
- International Association of Insurance Supervisors (IAIS)