News

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 current and former KPMG employees will begin on 10 January 2022.

The Financial Reporting Council (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 defi...

Aligning culture with purpose, values and strategy can strengthen a company’s business model, help to better manage resources and be more equipped to face future challenges, according to a new report issued today by the FRC.   Creating positive culture – opportunities and ch...

The FRC has today published a revised Audit Enforcement Procedure (“AEP”) and feedback statement. This follows consideration of the responses received to the consultation launched on 22 July 2021 regarding proposed amendments to the AEP.  

The FRC has today issued FRED 79 FRS 101 Reduced Disclosure Framework – 2021/22 cycle, which proposes no amendments to FRS 101 as a result of its latest annual review.

The Financial Reporting Council (FRC) has today announced its areas of supervisory focus for 2022/23, including priority sectors, for corporate reporting reviews and audit quality inspections.  

The Financial Reporting Council (FRC) today announces the closure of its investigation under the Accountancy Scheme in relation to the preparation and approval of Conviviality plc’s financial statements and other financial information by a member of the ICAEW.

The FRC has today published a Collection of Perspectives, following the FRC Culture Conference held in June 2021 that brought together a wide range of international experts to explore the important link between culture and high-quality audit.  

Today the FRC published ‘Effective Stewardship Reporting: Examples from 2021 and expectations for 2022’ which analyses reports from the first signatories to the revised Code published in September 2021.

Following the Financial Reporting Council's (FRC) call for feedback earlier this year, the FRC has today published a position paper summarising the responses to the call for feedback and setting out the FRC’s planned revisions to non-sector specific aspects of the Technical Ac...