News June 2018



8 March 2022
The FRC has imposed sanctions against KPMG LLP and Mr Michael Neil Frankish in relation to their audits of Revolution Bars Group Plc for the financial years ended 30 June 2015 and the 53 weeks ended 2 July 2016. Mr Frankish performed the role of Audit Engagement Partner in res...
News - Auditing
28 February 2022
The Financial Reporting Council (FRC) has today issued a consultation on proposed changes to its statutory Guidance to the Recognised Supervisory Bodies (RSBs) on the recognition of Key Audit Partners for local audit.   The changes have been proposed to address a recommendat...
News - Accounting - Auditing
23 February 2022
Today the Financial Reporting Council has issued the first in-depth assessment of the quality of reporting from private companies who have chosen to follow the Wates Principles. The report, which was conducted with the University of Essex, shows that the Wates Principles are t...
News - Corporate Governance
14 February 2022
The FRC has today published a new FRC Staff Guidance, Auditor responsibilities under ISA (UK) 720 in respect of climate related reporting by companies required by the Financial Conduct Authority. This staff guidance also includes a brief reminder of auditor’s responsibilities ...
News - Assurance - Auditing
14 February 2022
The FRC has today published a consultation paper on proposed changes to the Actuarial Standard Technical Memorandum 1 (AS TM1) to reflect the new environment that will exist once pensions dashboards display Estimated Retirement Income illustrations.
News - Actuarial
10 February 2022
The Financial Reporting Council (“FRC”) has commenced an investigation in relation to the audit conducted by HW Fisher LLP of the financial statements of Liberty Commodities Limited for the year ended 31 March 2020.
News - Accounting - Auditing - Discipline
9 February 2022
The Financial Reporting Council FRC has today outlined its preliminary thoughts to the International Sustainability Standards Board (ISSB) on the prototypes published by the Technical Readiness Working Group to support the development of International Sustainability Standards.
News - Accounting
31 January 2022
The FRC has today issued January 2022 editions of UK and Ireland accounting standards.
News - Accounting
26 January 2022
Independent research commissioned by the Financial Reporting Council which builds on similar research in 2020, reinforces the case for developing standards for Audit Committees to help promote a more consistent approach to audit quality. The research, conducted by YouGov, was ...
News - Audit Monitoring - Auditing
20 January 2022
The FRC is today opening applications for its Stakeholder Insight Group (SIG), a new cross-stakeholder panel that will represent preparers, investors, audit committee chairs and other key parts of our stakeholder universe including reporting framework owners and civil society ...