News

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

1719 pages found.

• 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

• Sanction against Sushovan Hussain in relation to Autonomy Corporation Plc

  The Executive Counsel to the Financial Reporting Council (FRC) has agreed terms of settlement with Sushovan Hussain following admissions of Misconduct as a result of his conviction in the USA during April 2018 on 16 counts of fraud relating to his conduct

  11 July 2024

• Sanctions against MacIntyre Hudson LLP, Deborah Weston and Geeta Morgan

  The Executive Counsel of the Financial Reporting Council (FRC) has issued a Final Settlement Decision Notice under the Audit Enforcement Procedure (AEP) and imposed sanctions against MacIntyre Hudson LLP (MHA), Deborah Weston (Ms Weston) a former partner

  9 July 2024

• FRC restructure creates new Market Intelligence and Digital Reporting Functions

  The FRC announces today that following a strategic review of its economic analysis, data analysis, research and market monitoring functions, existing resources have been reorganised into two newly structured teams to enable delivery of better stakeholder outcomes across the FRC’s remit and regulatory scope. These two new functions are Market Intelligence and Insights led by Laura Warren, and Digital Reporting and Taxonomies led by Phil Fitz-Gerald. The work previously undertaken by FRC Lab on reporting and market insights will be absorbed into these new functions.

  8 July 2024

• UK Sustainability Disclosure TAC Public Meeting May 2024: Agenda Papers and Registration

  The UK Sustainability Disclosure TAC public meeting will be held on 31 May 2024 at 10.00 hrs.

  24 May 2024

• FRC publishes new technical actuarial standards for collective money purchase pensions

  The Financial Reporting Council (FRC) has today published version 1.0 of Technical Actuarial Standard 310: Collective Money Purchase Pensions (TAS 310).

  24 May 2024