The Corporate Reporting Council has established a number of advisory groups to assist it in carrying out its functions.
The UK GAAP Technical Advisory Group
(UK GAAP TAG) advises the Council on all issues relating to UK accounting standards. Its activities include areas where unsatisfactory or conflicting interpretations of accounting standards or Companies Act provisions have developed or seem likely to develop, as well as those relating to smaller entities. It also assists the Council in relation to the development of Statements of Recommended Practice (SORPs)
by SORP-making bodies by carrying out a limited scope review of a SORP.
The Academic Panel
is a group of distinguished academics who meet regularly to discuss issues relating to the FRC's work.
In addition the Council may establish short-term advisory groups to provide input to specific projects.