News

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

1685 pages found.

• FRC announces areas of supervisory focus for 2024/25

  The Financial Reporting Council (FRC) has today announced its areas of supervisory focus for 2024/25, including priority sectors, for corporate reporting reviews and audit quality inspections.

  6 December 2023

• FRED 85 Draft amendments to FRS 101 Reduced Disclosure Framework – 2023/24 cycle

  The FRC has today issued FRED 85 Draft amendments to FRS 101 Reduced Disclosure Framework – 2023/24 cycle.

  5 December 2023

• UKEB adopts Supplier Finance Arrangements: Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures

  Published on behalf of the UKEB

  4 December 2023

• FRC publishes thematic review of audit sampling

  The Financial Reporting Council (FRC) has today published its thematic review of audit sampling. Audit sampling is a fundamental tool for auditors, allowing the auditor to draw conclusions about a population based on the sample selected.

  24 November 2023

• FRC welcomes new remit letter

  The Secretary of State for Business and Trade, Rt Hon Kemi Badenoch MP, has today issued the Financial Reporting Council (FRC) with a new remit letter updating the Government’s priorities for the FRC’s work.

  22 November 2023

• UKEB Board Member Vacancies

  The UKEB is recruiting for two Non-Executive Board Members to complement the skillset of the existing Board. The successful candidates will have experience as a preparer of accounts or an accounting firm background.

  16 November 2023

• Strides made in corporate governance reporting but more work needed to meet stakeholder expectations

  16 November 2023

• FRC publishes review of companies’ IFRS 17 disclosures

  The Financial Reporting Council (FRC) has today published its thematic review of companies’ first-time application of IFRS 17, a new and fundamental change in accounting for insurance contracts.

  15 November 2023

• 2024 Taxonomy Suite published

  The Financial Reporting Council has published the 2024 suite of FRC Taxonomies.

  9 November 2023

• Draft UKSEF Conformance Suite published

  9 November 2023

• Statement: FRC policy update

  The FRC notes that in His Majesty’s Speech to Parliament today the Government’s plan for primary legislation to modernise the regulation of audit, corporate reporting and governance has not been prioritised for the next Parliamentary session. Whilst disappointing, we are pleased that as recently as the 16th October the Government restated its continued commitment to reform and bringing forward legislation when Parliamentary time allows. There is broad stakeholder consensus that this reform continues to be necessary to restore investor and public trust following the very damaging collapse of several high-profile businesses including Carillion, BHS and Thomas Cook.

  7 November 2023

• FRC consults on proposed changes to Actuarial Standard Technical Memorandum 1

  The Financial Reporting Council (FRC) has today published a consultation paper on proposed changes to the Actuarial Standard Technical Memorandum 1 (AS TM1) (and its Annex: Exposure Draft of version 5.0 of TM1) to reflect the changes in the market conditi

  3 November 2023

• Webinar and Roundtable Invitation: FRC consultation on proposed revision to ISA (UK) 250 Section A and ISA (UK) 250 Section B

  The Financial Reporting Council (FRC) invites stakeholders to attend an upcoming webinar on its consultation to strengthen auditor requirements to detect and report material misstatements from non-compliance with laws and regulations.

  2 November 2023

• FRC report looks at "Materiality Mindset" for better corporate reporting

  The Financial Reporting Council (FRC) has today published a report looking at how companies can improve their corporate reporting by taking a more focused, strategic approach to assessing materiality.

  30 October 2023

• FRC welcomes the appointment of Alan Vallance as ICAEW’s CEO

  The Financial Reporting Council (FRC) welcomes the appointment of Alan Vallance as the Institute of Chartered Accountants in England and Wales’ (ICAEW) Chief Executive Officer, replacing Michael Izza who is due to retire in spring 2024.

  26 October 2023