Financial Reporting Council
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It has been suggested that Accounting Standards Board, Accountancy & Actuarial Discipline Board, Auditing Practices Board and Professional Oversight Board be merged into this article or section. (Discuss) Proposed since May 2011. |
The Financial Reporting Council (FRC) is the UK's independent regulator responsible for promoting high quality corporate governance and reporting to foster investment.
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[edit] Structure
It is a company limited by guarantee, partly funded by government and the industry and its Board of Directors is appointed by the Secretary of State for Business, Innovation and Skills. It and its subsidiaries play crucial roles in the oversight and development of corporate governance standards in the UK, such as the UK Corporate Governance Code and standards for the accounting industry.
The FRC incorporates six operating bodies:
- Accounting Standards Board (ASB)
- Financial Reporting Review Panel (FRRP)
- Accountancy & Actuarial Discipline Board (AADB)
- Professional Oversight Board (POB)
- Auditing Practices Board (APB)
- Board for Actuarial Standards (BAS)
[edit] Senior personnel
Sarah Hogg has been Chairman of the FRC since May 2010. Other Board members include Glen Moreno, Sir Michael Rake and Sir John Sunderland.[1]
The FRC's Chief Executive since November 2009 is Stephen Haddrill.
[edit] Financial Reporting Review Panel
The Financial Reporting Review Panel (FRRP) was established in 1990 as a subsidiary of the United Kingdom's Financial Reporting Council. The FRRP seeks to ensure that the provision of financial information by public and large private companies complies with relevant accounting requirements such as the Companies Act 1985.
[edit] See also
[edit] References
[edit] External links
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