News

The Financial Reporting Council (“FRC”) has imposed sanctions against Deloitte LLP (“Deloitte”) in relation to the audit of the financial statements of Serco Geografix Limited for the years ended 31 December 2011 and 2012, and against its audit engagement partner, Helen George...

Revision of Practice Note 19: The audit of banks and building societies in the United Kingdom   The Financial reporting Council (FRC) has today issued a revision of Practice Note 19: The audit of banks and building societies in the United Kingdom. Practice Notes are intended...

In a joint statement, the FRC, the PRA, the FCA and the TPR have welcomed the Government's Green Finance Startegy. 

The Government has announced its Green Finance Strategy which recognises the role of the financial sector in delivering global and domestic climate and environmental objectives. In response, the FRC has issued a joint statement with other financial regulators, including the...

On reaching the conclusion of his term of office this month, Mark Armour will step down from the Board of the FRC. He has been a Board member and non-executive director since July 2012.

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

EFRAG would like to gain a better understanding of the impact of adopting IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts on hedging strategies and practices. EFRAG seeks this information as part of its endorsement advice on IFRS 17 for the European Commission.

The Financial Reporting Council (FRC) has issued a Final Decision Notice under the Audit Enforcement Procedure and imposed sanctions against PricewaterhouseCoopers LLP (“PwC”), and two partners Jaskamal Sarai and Arif Ahmad, in relation to the statutory audits of the financial...

The FRC has conducted a review of the assumptions set within Actuarial Standard Technical Memorandum 1 (AS TM1) that are mandated for use in the annual Statutory Money Purchase Illustrations (SMPIs) received by people saving for retirement in defined contribution pension plans...

The Department of Business, Energy and Industrial Strategy is advertising for a Chair of the new United Kingdom Accounting Standards Endorsement Board (UKEB).