News July 2014 FRC comments on publication on IFRS 9

FRC comments on publication on IFRS 9

24 July 2014

PN 46/14

Following the publication of IFRS 9: Financial Instruments, by the International Accounting Standards Board, the FRC's Executive Director of Codes and Standards, Melanie McLaren, welcomed the package of improvements:


"The FRC is pleased that an improved standard has now been issued and will be working to influence its swift endorsement in Europe."

Notes to editors:

The FRC is responsible for promoting high quality corporate governance and reporting to foster investment.  We set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work.  We represent UK interests in international standard-setting.  We also monitor and take action to promote the quality of corporate reporting and auditing.  We operate independent disciplinary arrangements for accountants and actuaries; and oversee the regulatory activities of the accountancy and actuarial professional bodies.