Financial Reporting Council unveils major revisions to UK stewardship code AUDIT The Financial Reporting Council revealed significant updates to the UK Stewardship Code application process, targeting five priority areas designed to drive better outcomes
Financial Reporting Council fines against auditors nearly doubled in two years FINANCE The Financial Reporting Council (FRC) levied record-level fines against auditors after it promised to become more "forceful”.
Former Financial Reporting Council employee ordered to pay regulator after employment case dismissed Legal Mr R Hartigan took the FRC to the Employment Tribunal (ET) last year after he was dismissed in September 2022 because he made a single protected disclosure.
FRC opens probe into a member over the bankrupted Thurrock Council January 3, 2024 The Financial Reporting Council (FRC) has launched an investigation into the conduct of "a member" in relation to the bankrupted Thurrock Council's accounts.
Regulator probes Deloitte over audit of fashion firm Joules May 9, 2023 The Financial Reporting Council has opened an investigation into the audit of embattled retailer Joules today after Deloitte signed off its accounts prior to the firm’s collapse last year.
Mike Ashley’s Frasers Group hires former HS2 and HMRC boss June 3, 2024 Mike Ashley's retail empire Frasers Group has joined the former chair of HS2 and CEO of HMRC to its board.
Government set to shelve audit reform due to time constraints August 31, 2023 Ministers are poised to shelve an overhaul of audit and governance reform from their legislative agenda this year due to concerns over “parliamentary time”, according to reports.
Sir Jon Thompson: Ex-FRC and HS2 boss among ‘new high-calibre directors’ at Frasers February 26, 2024 The appointments come as Frasers has been embarking on a series of acquisitions and share purchases, with the most recent being Hornby last week.
Accountancy watchdog called on to raise threshold for enforcement action January 4, 2024 An accountancy chief has called on the Financial Reporting Council (FRC) to raise the threshold for enforcement action against auditors. Speaking to the Financial Times, Michael Izza, chief executive of the Institute of Chartered Accountants England and Wales said: “Prior to 2017, if the FRC brought a case against an auditor, the threshold test that [...]
Audit watchdog set to shake-up stewardship code to focus on ‘growth’ February 27, 2024 The audit watchdog is set to shake up the so-called stewardship code governing the UK’s top investors as pressure mounts on regulators to strip back red tape and support “growth and the UK’s competitiveness”.