The Financial Reporting Council (FRC) has commenced an investigation into retailer Sports Direct’s accounts following reports earlier this year that there was an arrangement between Sports Direct and Barlin Delivery which was not disclosed as a related party in the …
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The UK’s Financial Reporting Council (FRC) is consulting on its conduct committee’s operating procedures for reviewing company reports and accounts.
The conduct committee is a committee of the FRC Board established under the Articles of Association. The …
Read MoreThe UK’s Financial Reporting Council (FRC) has revised the audit firm governance code aiming to improve its visibility, relevance to investors and increase its alignment to the UK’s corporate provenance code. This follows a review carried out into the implementation …
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Confidence in the quality of auditing is improving according to the UK’s Financial Reporting Council, however there remains concerns about the level of concentration in the market which is dominated by four major firms.
The overview of auditing report is …
Read MoreThe UK’s Financial Reporting Council (FRC) has launched two separate audit investigations,one into KPMG’s audit of HBOS in 2007 and secondly PricewaterhouseCoopers audit of BHS in 2014 – under its accountancy scheme which it allows it to take disciplinary action …
Read MoreAchieving greater board diversity to improve company performance was the most pressing concern of respondents to the UK’s Financial Reporting Council’s (FRC) succession planning consultation.
The FRC’s feedback statement on the consultation found that respondents believed that boards as a …
Read MoreThe Financial Reporting Council’s pre-emption group (PEG) has released a report showing the progress of implementation of the Statement of Principles (principles), which were updated in 2015 to reflect market changes. The PEG found that the revised principles were largely …
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