All Financial Reporting Council articles – Page 5
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ArticleFRC review of IFRS 16 disclosures highlights weak spots
Companies applying the new standard on lease accounting need to provide more information on its effects, according to a new review by the U.K. Financial Reporting Council, which highlights where it expects companies to provide more comprehensive disclosure in their upcoming annual reports.
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ArticleFRC reveals key trends in U.K. accountancy profession
A new report from the U.K.’s Financial Reporting Council says the Big Four increased their combined “total fee income” by 4.7 percent—even amid a year fraught with accounting scandal.
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ArticleBig Four stranglehold on U.K. audit market widens
The Big Four’s dominance of the U.K. audit market has grown even further in the past year, according to the Financial Reporting Council’s latest report.
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ArticleU.K. audit regulators see no improvement in audit quality
U.K. audit regulators saw no improvement in audit quality in their most recent inspections, indicating none of the major firms achieved targeted pass rates.
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ArticleNew, tough regulator to oversee U.K. audit
The U.K. Financial Reporting Council will soon be replaced by a new regulator acting on recommendations from Sir John Kingman of the London Stock Exchange. The government hopes to ensure the United Kingdom going forward has “a world-class audit and accounting regulator.”
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Article
U.K. Financial Reporting Council receives scathing review
An independent review of U.K. corporate governance regulator and audit watchdog the Financial Reporting Council calls the agency a “hangover from a bygone era.”
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Blog
FRC issues corporate governance principles for private companies
The Financial Reporting Council (FRC) issued its long-awaited corporate governance standards for private companies, providing a framework to help the companies meet legal requirements and improve and disclose their governance.
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Blog
Former Autonomy execs face fraud charges in HP deal
A federal grand jury has delivered indictments against former Autonomy executives in connection with HP’s failed acquisition of the U.K. technology business.
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Blog
No change in audit-non-audit mix in U.S., KPMG says
Amid reports that KPMG is drawing a firmer line between audit and non-audit services in the United Kingdom, the firm has no similar plans in the United States.
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BlogU.K. audit regulator rips quality at major firms
Audit regulators in the United Kingdom have taken off the gloves in their assessment of audit quality among the major firms, especially the Big 4.
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ArticleAmid criticism, can trust in U.K. FRC be restored?
Attacks on the Financial Reporting Council are growing at the same time the U.K. regulator has been granted sweeping new powers to do a job it has been accused of not doing very well.
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Blog
New U.K. Corporate Governance Code focuses on culture
The Financial Reporting Council this week published proposals for a revised U.K. corporate governance code to reflect the changing business environment and help U.K. companies achieve the highest levels of governance, with corporate culture being a new key focus.
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Article
Reporting on climate risks on the bottom line
The Financial Stability Board is pressuring companies to disclose in some way what their potential risk business impact from climate change risk might be, as this has become a growing concern for investors.
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Blog
FRC issues new Audit Firm Governance Code
The U.K. Financial Reporting Council has updated its Audit Firm Governance Code in an effort to improve investors’ faith in accounting practices. Paul Hodgson reports.
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Blog
Monitoring corporate culture
A recent report from the Financial Reporting Council offers guidance to board chairmen on how to promote corporate culture. The report advises boards to align values, exercise steardship, and demonstrate leadership, among other steps. Paul Hodgson provides an in-depth look.
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Article
More Hints on Audit Report 2.0
New international requirements for an expanded audit report are providing a teaser for what the United States should expect in coming years. The new international standard is modeled on an earlier U.K. version, and it’s similar to a proposal expected from the PCAOB this year. The details differ, but the ...
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