News

This page list press notices and announcements issued by the FRC.

1685 pages found.

• Large private companies continue to favour Wates Principles

  The Financial Reporting Council has today issued its second assessment of the quality of reporting from private companies who have chosen to follow the Wates Principles, introduced in 2018.

  12 August 2024

• FRC publishes amendments to FRS 101 Reduced Disclosure Framework

  The Financial Reporting Council (FRC) has today issued minor Amendments to FRS 101 Reduced Disclosure Framework following the 2023/24 annual review cycle.

  9 August 2024

• Sanctions against Ernst & Young LLP

  The Financial Reporting Council (FRC) has issued a Final Settlement Decision Notice to Ernst & Young LLP (EY UK) under the Audit Enforcement Procedure and imposed sanctions in respect of a breach of the FRC’s Revised Ethical Standard 2019, namely exceedin

  7 August 2024

• FRC issues consultation on Going Concern Guidance

  The Financial Reporting Council (FRC) has today issued a consultation on revisions to its Guidance on the Going Concern Basis of Accounting and Related Reporting, including Solvency and Liquidity Risks.

  5 August 2024

• UKEB seeks stakeholder views on IASB's standard: IFRS 18 Presentation and Disclosure in Financial Statements

  Issued on behalf of the UKEB: IFRS 18 UKEB webinar recording and surveys; UKEB welcomes the IASB’s publication of its Exposure Draft (ED) Climate-related and Other Uncertainties in the Financial Statements; Share your experience of the UKEB Website.

  2 August 2024

• Draft 2025 Taxonomy Suite published

  The FRC has published a draft version of the 2025 Taxonomy Suite.

  2 August 2024

• Financial Reporting Council supports government action on local audit backlog

  The Financial Reporting Council (FRC) welcomes the Government's decisive action to address the significant backlog in local authority audits, as outlined in today's Written Ministerial Statement.

  30 July 2024

• FRC publishes annual Tier 1 audit firm inspection results

  The Financial Reporting Council (FRC) has today published its Annual Review of Audit Quality which covers the inspection and supervision results of the Tier 1 audit firms,(BDO, Deloitte, EY, Forvis Mazars, KPMG, and PwC), which the FRC defines as the firm

  30 July 2024

• IASB Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment – UKEB Final Comment

  The UKEB has published its Final Comment Letter and Feedback Statement in response to the IASB’s Exposure Draft on Business Combinations—Disclosures, Goodwill and Impairment. The UKEB is broadly supportive of the proposals, however our Final Comment Lette

  26 July 2024

• FRC launches market study on NHS audit market

  The Financial Reporting Council (FRC) has today announced the launch of a comprehensive market study into the audit market for NHS providers and Integrated Care Boards (ICBs). This initiative is in response to growing concerns about difficulties NHS bodie

  25 July 2024

• FRC publishes latest Annual Enforcement Review

  The Financial Reporting Council (FRC) has today published its sixth Annual Enforcement Review (Review) which provides a summary of FRC enforcement activity for the year ending 31 March 2024.

  25 July 2024

• FRC Annual Report highlights continued progress in improving standards of audit, financial and corporate reporting to support UK corporate growth

  The Financial Reporting Council (FRC) has today published its Annual Report and Accounts for 2023/24. The report underscores the FRC’s ongoing commitment to improving audit quality and corporate reporting in the UK while adapting to evolving market needs

  24 July 2024

• FRC announces significant update to the UK Stewardship Code

  The Financial Reporting Council (FRC) has today announced significant revisions to the UK Stewardship Code application process and committed to five priority areas of review as it continues its revision the Code. Together, they ensure that the Code is supporting UK capital markets, reducing reporting burdens and driving better stewardship outcomes.

  22 July 2024

• FRC welcomes government legislation to modernise regulatory toolkit

  "The FRC welcomes the Government’s announcement of draft legislation to modernise its regulatory toolkit.

  17 July 2024

• UKEB Outreach on the IASB’s IFRS 18 Presentation and Disclosure in Financial Statements

  The IASB published IFRS 18 Presentation and Disclosure in Financial Statements with an effective date of annual reporting periods beginning on or after 1 January 2027, subject to adoption in the UK by the UKEB. As part of UKEB’s endorsement and adoption w

  16 July 2024