News November 2021



25 May 2022
The Financial Reporting Council (FRC) invites stakeholders share their views on the Exposure Drafts recently published by the newly formed International Sustainability Standards Board (ISSB).
News - Accounting - Auditing - Corporate Governance - Corporate Reporting - Ethics - Financial Reporting
24 May 2022
The FRC has today released 29 updated ISAs (UK), amended to include conforming amendments arising from the revision of ISA (UK) 315 (Revised July 2020) Identifying and Assessing the Risks of Material Misstatement.
News - Accounting - Auditing
24 May 2022
The Executive Counsel of the Financial Reporting Council (FRC) has issued a Final Decision Notice under the Audit Enforcement Procedure and imposed sanctions against KPMG Audit plc (KPMG) and Anthony Sykes, Audit Engagement Partner (together, the Respondents), in relation to t...
News - Audit Monitoring - Auditing - Ethics
20 May 2022
The FRC has today issued FRED 80 Draft amendments to FRS 100 Application of Financial Reporting Requirements Application Guidance The Interpretation of Equivalence.
News - Accounting
19 May 2022
Today, the FRC issues Amendments to Basis for Conclusions FRS 101 Reduced Disclosure Framework– 2021/22 cycle, which brings to a close the 2021/22 annual review of FRS 101 Reduced Disclosure Framework.
News - Accounting - Corporate Reporting - Financial Reporting
18 May 2022
The FRC has today published a letter to the Insurance Business Unit leaders at the largest eight audit firms in the UK, setting out feedback on the actuarial aspects of insurance company audits.
News - Actuarial - Risk
17 May 2022
The UK Endorsement Board (UKEB) has announced that it has approved the adoption of the International Accounting Standards Board’s (IASB) IFRS 17 Insurance Contracts for use by UK companies. It is the first major standard adopted by the UKEB since the UKEB received delegated po...
News - Accounting - Corporate Reporting
16 May 2022
The Financial Reporting Council (FRC) has today published its thematic review of discount rates.
News - Accounting - Auditing - Corporate Reporting - Financial Reporting - Planning
13 May 2022
The Financial Reporting Council (FRC) is carrying out a post implementation review of the Technical Actuarial Standards (TASs) and has today issued a call for feedback on the current sector specific TASs.
News - Actuarial
6 May 2022
The hearing of the Formal Complaint of ­the Executive Counsel to the Financial Reporting Council (“FRC”) under the Accountancy Scheme against KPMG LLP, a former KPMG partner, and certain former KPMG employees will resume before the Disciplinary Tribunal of the FRC on Thursday ...
News - Accounting - Audit Monitoring - Auditing