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News

29 January 2018
The Financial Reporting Council (FRC) has today published a graphic detailing each stage of the process its Enforcement team follows to gather evidence of misconduct and/or breaches by audit firms, auditors, accountants and actuaries, and investigate failures.
News - Discipline
29 January 2018
In the light of the collapse of Carillion, the Financial Reporting Council (FRC) reminds Boards of companies in the construction and business support services sectors of their reporting obligations (PDF).   This guidance will also be relevant to other companies.  
News - Accounting - Corporate Reporting - Financial Reporting
29 January 2018
The Financial Reporting Council (FRC) has decided, following enquiries made since a profit warning in July 2017, to open an investigation under the Audit Enforcement Procedure in relation to KPMG’s audit of the financial statements of Carillion plc. The investigation will cove...
News - Auditing - Discipline
23 January 2018
The Financial Reporting Council (FRC) has fined and reprimanded the audit firm Arrandco Audit Ltd. (formerly RSM Tenon Audit Ltd. “Tenon”) and the Audit Engagement Partner Jeremy Filley, following an investigation opened in August 2015. Both parties admitted Misconduct in rela...
News - Auditing - Discipline
17 January 2018
The Financial Reporting Council (FRC) has, with the consent of the Chartered Institute of Public Finance and Accountancy (CIPFA), revoked the recognition of CIPFA as an audit qualifying body under the provisions of the Companies Act 2006 with effect from 18 December 2017.
News - Audit Monitoring - Auditing
16 January 2018
Sir Win Bischoff, Chairman of the Financial Reporting Council (FRC) has sent a letter (PDF) to the Secretary of State for Business, Greg Clark MP, regarding the liquidation of Carillion plc
News - Accounting - Audit Monitoring - Auditing - Corporate Reporting - Discipline - Financial Reporting
15 January 2018
The Financial Reporting Council (FRC) has issued a statement regarding Carillion.
News - Auditing - Discipline
12 January 2018
Sir Win Bischoff, Chairman FRC, reflects on the successes of the UK Corporate Governance Code while also looking to the next 25 years of corporate governance in the UK.
News - Corporate Governance
8 January 2018
In 2017 the Financial Reporting Council (FRC) commissioned ComRes to undertake a survey of stakeholder views on all aspects of its work, including corporate governance and reporting as well as its effectiveness as a regulator. The results of the survey are encouraging but a...
News - Accounting - Assurance - Auditing - Corporate Governance - Corporate Reporting - Discipline - Investor Stewardship
20 December 2017
Following the conclusion of the Financial Reporting Council’s (FRC) investigation, the former Financial Management Controller of Tech Data Limited (formerly known as Computer 2000 Distribution Limited), Kevin Silverwood, has been fined and excluded from the accountancy profess...
News - Discipline
   
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