Search Results for: FRC
MP calls for FRC accounting body to investigate KPMG over HBOS
December 14th, 2015
Britain’s accounting standards watchdog has made a “serious mistake” in refusing to open a formal investigation into accountancy firm KPMG over the way it checked the books of HBOS bank before it collapsed, a senior UK lawmaker said on ...
FRC calls for transparent disclosure of tax risks in corporate reports
December 1st, 2015
The Financial Reporting Council (FRC) will conduct a thematic review of companies’ tax reporting to encourage more transparent recording of the relationship between the tax charges and accounting profit. The required disclosures are key to helping users understand the ...
FRC has called on the IASB to reconsider its proposed Conceptual Framework
November 26th, 2015
The Financial Reporting Council (FRC) has called on the IASB to reconsider its proposed Conceptual Framework so that it properly reflects the importance of stewardship, prudence and reliability, which it describes as cornerstones of the Framework. The FRC’s comments ...
FRC updates UK Corporate Governance Code
September 18th, 2014
FRC has issued an updated version of the UK Corporate Governance Code (the Code). This significantly enhances the quality of information investors receive about the long-term health and strategy of listed companies, and raises the bar for risk management. ...
FRC consulting on going concern in changes to CG code
April 28th, 2014
The FRC is consulting on thorny elements of its guidance on going concern along with reforms to directors’ remuneration policy as part of wider changes to the corporate governance code following on from consultations held last year. Last month, ...
FRC to expose companies that fail to report accurate information
April 17th, 2014
Companies will be forced to admit to FRC inquiries, under reporting watchdog proposals Companies will be forced to admit when they have investigated by the FRC’s conduct committee for failing to provide accurate information in accounts or reports, under ...
FRC issues temporary filler for insurance accounting
March 24th, 2014
THE FRC has issued new accounting and reporting requirements as a potentially temporary fill for a gap for the insurance industry. Financial Reporting Standard (FRS) 103 will be used by companies that currently use FRS 102 in the UK ...
Fancy Color Diamond Index (FCDI) tracks changes in yellow, pink and blue stones
August 31st, 2020
Sales of fancy color diamonds have again been too slow for trade body the FRCF to produce a quarterly price index. But it says it can see signs of a recovery for Q3. The Fancy Color Diamond Index (FCDI) ...
ACCA Research: 48% of public believe auditors ‘could prevent company failures’
November 23rd, 2018
A survey of 1,000 members of the general public by ACCA (the Association of Chartered Certified Accountants) reveals auditors are expected to play a crucial role in company safeguarding. 48% of the UK public believe it is auditors who ...
Grant Thornton fined £3m by a watchdog for misconduct over audits
August 30th, 2018
The Financial Reporting Council (FRC), the independent, investigative and disciplinary body for accountants and actuaries in the UK, has issued an announcement to inform that has fined and reprimanded Grant Thornton UK LLP and three senior statutory auditors. According the ...
