Financial Reporting Council

The chief executive of the Financial Reporting Council (FRC), the UK's accountancy regulator, has promised to speed up investigations into audit failures.  Richard Moriarty told the Sunday Times that the FRC needed to take disciplinary action against auditors more swiftly. He emphasised the imp

The Financial Reporting Council (FRC) has released updated guidance on the Going Concern Basis of Accounting and Related Reporting, including Solvency and Liquidity Risks.

The Financial Reporting Council (FRC) has told audit firms in the UK to report any plans to sell stakes in their businesses to private equity.  Richard Moriarty, chief executive of the FRC, wrote this week to the bosses of the UK’s top accounting firms stating that the FRC was not against

The Financial Reporting Council (FRC) has fined Big Four accountancy firm EY £320,000 for breaching the cap on fees it can earn from providing consultancy services to an audit client.

The Financial Reporting Council (FRC) has published the 21st edition of its Key Facts and Trends (KFAT) report, providing the latest statistical information and trends on the UK accountancy and audit profession. This year's report highlights continued growth in accountancy membership, with nearly 40

The Financial Reporting Council (FRC) has announced the Audit Committees and the External Audit: Minimum Standard, which comes after careful consideration of the consultation responses received from stakeholders.The consultation on the draft proposal for the Minimum Standard was launched by the FRC

The Financial Reporting Council (FRC) has commenced an investigation in relation to the audit conducted by Deloitte of the consolidated financial statements of Joules Group plc. The investigation concerns the audit conducted byt he Big Four firm for the year ended 30 May 2021.

The Financial Reporting Council (FRC) has fined KPMG and its audit engagement partner Anthony Sykes £1.75 million and £75,000 respectively for failures in relation to its audit of the financial statements of TheWorks.co.uk plc. The Executive Counsel of the FRC has issued a Final Settleme

The Financial Reporting Council (FRC) has today reiterated the need for high-quality disclosures from companies during periods of economic uncertainty. To support more informed decision-making, companies must ensure that investors and other stakeholders receive reliable information about a company&r

The Financial Reporting Council (FRC) has commenced an investigation in relation to the audit conducted by Mazars LLP of the financial statements of Studio Retail Group plc. The investigation concerns the period ended 26 March 2021, a month after the group was purchased by Mike Ashley's Frasers Grou

The Financial Reporting Council (FRC) has published a report on Navigating barriers to senior leadership for people from minority ethnic groups in FTSE 100 and FTSE 250 companies. The report shows that, while there are still significant challenges to be addressed, the need for change has been taken

The Financial Reporting Council (FRC) has launched a consultation on its draft proposals for how the new regulator, the Audit, reporting and Governance Authority (ARGA), should be funded.This follows the Government Response to its consultation on Restoring Trust in Audit and Corporate Governance, wh