News

FRC Briefing setting out the current ‘hot topics’ of its Corporate Reporting Review function

The Financial Reporting Council (FRC) has fined and reprimanded the audit firm KPMG LLP and the Audit Engagement Partner William Smith following their admission of Misconduct in relation to the audit of the financial statements of Quindell plc for the period ended 31 December ...

Responding to Sir John Kingman’s call for evidence in his independent review of the Financial Reporting Council’s (FRC) operations, Sir Win Bischoff, Chairman of the FRC said:

Sir Win Bischoff, Chairman FRC, speaks in support of The Lord Mayor, Charles Bowman's 'Business of Trust' agenda.

Following an investigation into Autonomy’s financial reporting between 1 January 2009 and 30 June 2011, the Executive Counsel of the Financial Reporting Council (FRC) has delivered formal complaints under the Accountancy Scheme in connection with the conduct of the auditors De...

FRC publishes feedback statement on Third Country Auditors (Fees) instrument 2018 consultation

Given the clear public interest in this matter, the Financial Reporting Council (FRC) is providing an update on its investigation into Carillion. The main areas of focus for the investigations of KPMG’s audit of Carillion (2014 – 2017) and of two finance directors Richard Adam...

EFRAG has commissioned research on the expected economic impact of IFRS 17 Insurance Contracts and is seeking views from a wide range of interested parties

The FRC has today issued Amendments to the Basis for Conclusions FRS 101 Reduced Disclosure Framework and the associated Feedback Statement to FRED 69 FRS 101 – 2017/18 cycle

It is important that firms create a culture where achieving high quality audit is valued and rewarded, and which emphasises the importance of ‘doing the right thing’ in the public interest according to a new report by the Financial Reporting Council (FRC), ‘Audit Culture Thema...