News

The Financial Reporting Council (FRC) welcomes the publication today of the report by the Taskforce on Disclosures about Expected Credit Losses (‘Taskforce’). 

The Financial Reporting Council (FRC) announces that the Formal Complaint against Sushovan Hussain, former Chief Financial Officer of Autonomy Corporation plc, has been stayed, pending the outcome of his intended appeal against his conviction on 16 counts of fraud in the Unite...

The Financial Reporting Council's (FRC) Financial Reporting Lab has released its quarter 3-4 newsletter.

The Financial Reporting Council’s (FRC) Executive Counsel has delivered a disciplinary Formal Complaint, under the Accountancy Scheme, against KPMG LLP and one of its partners, David Costley-Wood (the Respondents), a member firm and member respectively of the ICAEW.

The Financial Reporting Council (FRC) has commenced an investigation into the audit by Grant Thornton UK LLP (GT) of the financial statements of Patisserie Holdings Plc for the years ended 30 September 2015, 2016 and 2017. The investigation will be conducted under the Audit En...

The Financial Reporting Council (FRC) is consulting with stakeholders to determine how effective the changes to ethical and auditing standards in 2016 have been in delivering high quality audit, and whether further steps are now needed to strengthen auditor independence, reduc...

The Financial Reporting Council (FRC) announces new appointments to the Actuarial and Audit & Assurance Councils.

The Financial Reporting Council (FRC) will, in 2019/20, supplement its routine AQR monitoring programme with two thematic reviews. These thematic reviews, which focus on aspects of audit practice across a number of firms to identify both scope for improvement and good practice...

Responding to the 2018 report from the Hampton Alexander Review, Tracy Vegro, Executive Director Strategy & Resources at the FRC said:   “We welcome the progress that has been made on diversity in British boardrooms but the pace at which FTSE 350 Boards need to appoint more ...

Consultation: Actuarial Statement of Recommended Practice 1: Financial Analysis of Social Security Programmes