News

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

1661 pages found.

• Survey Response Deadline Extended: IFRS 18 Presentation and Disclosure in Financial Statements

  Issued on behalf of the UKEB: To aid its endorsement work, the UKEB launched surveys for UK users of accounts and preparers to gather their views on IFRS 18. The deadline for stakeholder responses has now been extended to 30 September 2024.

  11 September 2024

• FRC issues September 2024 editions of UK and Ireland accounting standards

  The Financial Reporting Council (FRC) has today issued new September 2024 editions of UK and Ireland financial reporting standards.

  10 September 2024

• FRC welcomes legislation to restore timely financial reporting and audit

  The Financial Reporting Council welcomes the Government tabling legislation in Parliament on 9 September 2024 to address the significant delays in local authority audits. This follows the Written Ministerial Statement issued on 30 July 2024.

  10 September 2024

• In Conversation: Looking ahead to the first reporting cycle of the 2024 UK Corporate Governance Code

  Ahead of the first reporting cycle under the new 2024 UK Corporate Governance Code, listen to the latest 'In Conversation' podcast episode featuring Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs, and Maureen Beresford, Acting Dir

  9 September 2024

• FRC publishes thematic reviews into offsetting in the financial statements and IFRS 17 Insurance Contracts

  The FRC has today published two thematic reviews into the quality of UK company reporting in respect of offsetting in the financial statements and IFRS 17 Insurance Contracts.

  5 September 2024

• Discussion Paper launched on the Future of Digital Reporting in the UK

  As part of a cross-regulatory group, the Financial Reporting Council has today announced the launch of a comprehensive discussion paper on the future of digital reporting in the UK.

  13 August 2024

• Large private companies continue to favour Wates Principles

  The Financial Reporting Council has today issued its second assessment of the quality of reporting from private companies who have chosen to follow the Wates Principles, introduced in 2018.

  12 August 2024

• FRC publishes amendments to FRS 101 Reduced Disclosure Framework

  The Financial Reporting Council (FRC) has today issued minor Amendments to FRS 101 Reduced Disclosure Framework following the 2023/24 annual review cycle.

  9 August 2024

• Sanctions against Ernst & Young LLP

  The Financial Reporting Council (FRC) has issued a Final Settlement Decision Notice to Ernst & Young LLP (EY UK) under the Audit Enforcement Procedure and imposed sanctions in respect of a breach of the FRC’s Revised Ethical Standard 2019, namely exceedin

  7 August 2024

• FRC issues consultation on Going Concern Guidance

  The Financial Reporting Council (FRC) has today issued a consultation on revisions to its Guidance on the Going Concern Basis of Accounting and Related Reporting, including Solvency and Liquidity Risks.

  5 August 2024

• UKEB seeks stakeholder views on IASB's standard: IFRS 18 Presentation and Disclosure in Financial Statements

  Issued on behalf of the UKEB: IFRS 18 UKEB webinar recording and surveys; UKEB welcomes the IASB’s publication of its Exposure Draft (ED) Climate-related and Other Uncertainties in the Financial Statements; Share your experience of the UKEB Website.

  2 August 2024

• Draft 2025 Taxonomy Suite published

  The FRC has published a draft version of the 2025 Taxonomy Suite.

  2 August 2024

• Financial Reporting Council supports government action on local audit backlog

  The Financial Reporting Council (FRC) welcomes the Government's decisive action to address the significant backlog in local authority audits, as outlined in today's Written Ministerial Statement.

  30 July 2024

• FRC publishes annual Tier 1 audit firm inspection results

  The Financial Reporting Council (FRC) has today published its Annual Review of Audit Quality which covers the inspection and supervision results of the Tier 1 audit firms,(BDO, Deloitte, EY, Forvis Mazars, KPMG, and PwC), which the FRC defines as the firm

  30 July 2024

• IASB Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment – UKEB Final Comment

  The UKEB has published its Final Comment Letter and Feedback Statement in response to the IASB’s Exposure Draft on Business Combinations—Disclosures, Goodwill and Impairment. The UKEB is broadly supportive of the proposals, however our Final Comment Lette

  26 July 2024