News

Today the Financial Reporting Council has issued the first in-depth assessment of the quality of reporting from private companies who have chosen to follow the Wates Principles. The report, which was conducted with the University of Essex, shows that the Wates Principles are t...

The FRC has today published a new FRC Staff Guidance, Auditor responsibilities under ISA (UK) 720 in respect of climate related reporting by companies required by the Financial Conduct Authority. This staff guidance also includes a brief reminder of auditor’s responsibilities ...

The FRC has today published a consultation paper on proposed changes to the Actuarial Standard Technical Memorandum 1 (AS TM1) to reflect the new environment that will exist once pensions dashboards display Estimated Retirement Income illustrations.

The Financial Reporting Council (“FRC”) has commenced an investigation in relation to the audit conducted by HW Fisher LLP of the financial statements of Liberty Commodities Limited for the year ended 31 March 2020.

The Financial Reporting Council FRC has today outlined its preliminary thoughts to the International Sustainability Standards Board (ISSB) on the prototypes published by the Technical Readiness Working Group to support the development of International Sustainability Standards.

The FRC has today issued January 2022 editions of UK and Ireland accounting standards.

Independent research commissioned by the Financial Reporting Council which builds on similar research in 2020, reinforces the case for developing standards for Audit Committees to help promote a more consistent approach to audit quality. The research, conducted by YouGov, was ...

The FRC is today opening applications for its Stakeholder Insight Group (SIG), a new cross-stakeholder panel that will represent preparers, investors, audit committee chairs and other key parts of our stakeholder universe including reporting framework owners and civil society ...

The Financial Reporting Council has issued a Final Decision Notice under the Audit Enforcement Procedure and imposed sanctions against KPMG LLP (“KPMG”) and the Audit Engagement Partner, Nicola Quayle (the “Respondents”), in relation to the statutory audit of the financial sta...

The Executive Counsel to the Financial Reporting Council (FRC) has agreed terms of settlement with KPMG and Stuart Smith following their admissions of Misconduct in relation to the FRC’s Audit Quality Review (AQR) inspection of the audit of the financial statements of Regeners...