FRC fines EY £4.9m over ‘failures’ on Thomas Cook audits
April 17, 2024
Six years after the collapse of Thomas Cook with £1.7 billion of debt, the Financial Reporting Council (FRC) has hit EY with a £4.9 million fine over …
Read More
FRC calls for sustainability assurance framework to address quality concerns
February 7, 2025
The Financial Reporting Council (FRC) has recommended the creation of a UK policy framework for sustainability assurance due to concerns over inconsistencies in the quality of assurance …
Read More
FRC finds inconsistent quality in climate-related disclosures
January 22nd, 2025
The Financial Reporting Council (FRC) has found that while companies have made efforts to comply with climate-related financial disclosures requirements, the quality of these disclosures varies significantly.
In a review …
Read More
FRC urges companies to prepare for updated Corporate Governance Code
November 27th, 2024
As companies get ready to implement the revised UK Corporate Governance Code from January 2025, the Financial Reporting Council (FRC) has called on them to improve their …
Read More
FRC to review UK Stewardship Code
November 13th , 2024
The Financial Reporting Council (FRC) has launched a consultation on proposed updates to the UK Stewardship Code.
Running until 29 February 2025, the consultation should follow extensive engagement with over …
Read More
FRC revises corporate governance code
January 26th, 2024
The Financial Reporting Council (FRC) has announced revisions to the UK Corporate Governance Code that enhance transparency and accountability, primarily through an update to how boards approach internal controls.
The FRC said …
Read More
FRC identifies TCFD disclosures as area of focus
December 14th, 2023
The Financial Reporting Council (FRC) will include climate-related risks, including Task Force on Climate-Related Financial Disclosures (TCFD), as one of its key areas of supervisory focus for 2024/25 financial …
Read More
FRC scraps ESG policies as audit reforms left out of government agenda
November 8th, 2023
The Financial Reporting Council (FRC) will drop several proposals related to ESG set out in its UK Corporate Governance Code after it was dropped from …
Read More
FRC applauds new reporting requirements
July 26th, 2023
The Financial Reporting Council (FRC) has welcomed the UK government’s draft statutory instrument on corporate reporting, which introduces new requirements for companies.
The new rules will require companies to introduce an …
Read More