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The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland based in London Wall in the City of London, responsible for regulating auditors, accountants and actuaries, and setting the UK's Corporate Governance and Stewardship Codes. The FRC seeks to promote transparency and integrity in business by aiming its work at investors and others who rely on company reports, audits and high-quality risk management.[1]
In December 2018, an independent review of the FRC, led by Sir John Kingman, recommended its replacement by a new Audit, Reporting and Governance Authority,[2] a recommendation that the government agreed to follow in March 2019[3] but later delayed.[4]
Ireland adopted the FRC's auditing framework in 2017.[5]
- ^ "About the FRC". Financial Reporting Council.
- ^ "Independent review of the Financial Reporting Council (FRC) launches report". Gov.uk. 18 December 2018. Retrieved 18 December 2018.
- ^ Cite error: The named reference
BBC-11Mar2019was invoked but never defined (see the help page). - ^ "We do need ARGA, says FRC chief". Institute of Chartered Accountants in England and Wales. 14 March 2024. Retrieved 8 August 2024.
- ^ Sweet, P., Ireland confirms switch to FRC auditing framework, published 4 November 2017, accessed 15 November 2022