News

The Financial Reporting Council (FRC) has today published the latest list of companies whose reports and accounts have been reviewed by its Corporate Reporting Review function.

The Financial Reporting Council (FRC) has today published comprehensive professional judgement guidance for auditors to improve how they exercise professional judgement.

 The Financial Reporting Council (FRC) has today issued a consultation on publishing audit quality indicators (AQIs) for the largest UK audit firms, which would provide users of audited information with greater detail on audit firms’ efforts to deliver high quality audit.   

The FRC has today issued an updated edition of the Guidance on the Strategic Report to incorporate the new climate-related financial disclosures, following changes in legislation made earlier this year. In addition, a number of other amendments were also made to maintain align...

The FRC has today published a consultation on proposed changes to Technical Actuarial Standard 100 which would require actuaries to include climate change risks in the course of their work.

On 31 May 2022, the Government published its response to the consultation on its White Paper ‘Restoring Trust in Audit and Corporate Governance’. In particular Chapter 11.2 sets out the next steps to reform the UK’s actuarial regulatory regime. The FRC has welcomed the Governm...

The Executive Counsel of the Financial Reporting Council (the FRC) has issued a Final Settlement Decision Notice under the Audit Enforcement Procedure and imposed sanctions against PricewaterhouseCoopers LLP (PwC) and Jonathan Hook, Audit Engagement Partner (together, the Resp...

The Executive Counsel of the Financial Reporting Council (the FRC) has issued a Final Decision Notice under the Audit Enforcement Procedure and imposed sanctions against PricewaterhouseCoopers LLP (PwC) and Jonathan Hook, Audit Engagement Partner (together, the Respondents), i...

The Financial Reporting Council (FRC) welcomes the Government’s response to its consultation ‘Restoring trust in audit and corporate governance’ which sets out the next steps to reform the UK’s audit and corporate governance framework.

The Financial Reporting Council (FRC) has today published anonymised key findings and good practices reported by its Audit Quality Review (AQR) team in relation to their 2020/21 audit quality inspections at the seven largest audit firms.