FRC comments on publication of the report of the IASB Effects Analysis Consultative Group
News types: Statements
Published: 3 December 2014
72/14 Commenting today on the publication of the report of the IASB Effects Analysis Consultative Group, FRC Executive Director, Codes & Standards, Melanie McLaren said:
"The FRC welcomes the report by the independent group of experts on how the International Accounting Standards Board can enhance the way it assesses the likely effects of proposed International Financial Reporting Standards. There are lessons for national standard-setters as well as the IASB and the FRC will be looking at its own assessment processes in the light of the report to ensure that we continue to capture the costs and benefits associated with changes to our standards."
Notes to editors:
The FRC is responsible for promoting high quality corporate governance and reporting to foster investment. We set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work. We represent UK interests in international standard-setting. We also monitor and take action to promote the quality of corporate reporting and auditing. We operate independent disciplinary arrangements for accountants and actuaries; and oversee the regulatory activities of the accountancy and actuarial professional bodies.