News October 2020



14 September 2020
The Government has today appointed Pauline Wallace as the the inaugural chair of the UK Accounting Standards Endorsement Board (UKEB) 
News - Accounting
10 September 2020
The FRC's Financial Reporting Lab is inviting investors and companies to participate in a new project on corporate disclosures on risks, uncertainties and scenarios.  
News - Accounting - Auditing - Corporate Governance - Corporate Reporting - Financial Reporting - Investor Stewardship - Narrative Reporting - Risk
7 September 2020
The FRC has today published a draft UK Endorsement Criteria Assessment on the IASB’s amendment Interest Rate Benchmark Reform—Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) (the Amendments).
News - Accounting - Audit Monitoring - Corporate Governance - Corporate Reporting - Financial Reporting - Risk
4 September 2020
The Pre-Emption Group (PEG) is extending, to 30th November 2020, its recommendation that investors, on a case-by-case basis, continue to consider supporting placings by companies of up to 20% of their issued share capital over a 12-month period.
News - Corporate Governance - Financial Reporting
21 August 2020
The FRC has today published a recording of the joint webinar with the IASB on the General Presentation and Disclosures Exposure Draft held on 6 August 2020
News - Accounting - Financial Reporting
18 August 2020
 The Financial Reporting Council (FRC) has today confirmed it will not pursue regulatory action where issuers take advantage of the provisions contained in the Accounting for Lease Modifications (Amendment to IFRS 16 – Covid-19-Related Rent Concessions) before adoption by the EU.
News - Accounting - Auditing - Corporate Reporting - Financial Reporting
31 July 2020
The Financial Reporting Council (FRC) has today published its second Annual Enforcement Review (AER). The report highlights driving audit quality improvements through securing cultural change by those responsible as a key priority for the Division with a greater use of constru...
News - Accounting - Actuarial - Audit Monitoring - Auditing - Corporate Governance - Corporate Reporting - Discipline - Ethics - Financial Reporting - Going Concern - Investor Stewardship
29 July 2020
Earlier this year, the FRC announced the creation of a new Supervision division. The aims of the new division are to:   - enhance forward-looking supervision of the largest audit firms alongside an expanded programme of audit inspections/file reviews; - build thematic work ...
News - Discipline
29 July 2020
The Financial Reporting Council (FRC) has issued a Final Decision Notice under the Audit Enforcement Procedure (AEP) and imposed sanctions against BDO LLP (BDO) and partner, David Roberts (the Respondents), in relation to the statutory audit of the financial statements of AmTr...
News - Ethics
28 July 2020
The Financial Reporting Council (FRC) has today issued a revision to its Technical Actuarial Standard for work supporting Funeral Plan Trusts (TAS 400). The revised standard has been updated to reflect new requirements introduced by the Funeral Planning Association (FPA) follo...
News - Actuarial - Risk