News

The FRC proposes to set more stringent ethical rules for auditors, in response to findings from recent audit enforcement cases and from audit inspections. In response to feedback from investors, the FRC also proposes to enhance the quality and content of auditor’s reports in o...

The Risk Coalition has just issued a consultation on the Principles and guidance for board risk committees and risk functions in the UK financial services sector. 

The FRC has concluded its annual review of FRS 101 for 2018/19 and issued Amendments to FRS 101 – 2018/19 cycle, which amends the definition of a qualifying entity so that insurers cannot apply FRS 101 from the effective date of IFRS 17 Insurance Contracts. In addition, the FR...

New research from Cranfield University, which is being supported by the Financial Reporting Council (FRC), has found many FTSE 100 companies are implementing a tick box attitude to diversity.  

The latest audit inspections, which relate principally to audits of companies’ December 2017 year-ends, found 75% of FTSE 350 audits reviewed were good or required no more than limited improvements, compared to 73% in 2017/18.

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.