The U.K.’s Local Authority Pension Fund Forum’s (LAPFF) recent criticism of the Financial Reporting Council (FRC) is just the latest in a growing avalanche of attacks faced by the regulator.
It’s not the only body criticising the FRC for not doing its job properly, or indeed at all. That is also a position taken by the Business Secretary Greg Clark, who called for an independent review of the organisation after the two parliamentary committees he sits on, the Work and Pensions Committee and the Business, Energy and Industrial Strategy determined that the FRC had been too slow in launching an investigation into collapsed construction firm Carillion.
