FRC
The Financial Reporting Council (FRC) is the UK’s independent regulator responsible for setting standards in corporate governance, accounting, and auditing. Our reporting keeps accountancy and advisory professionals informed about FRC policy updates, enforcement actions, consultation outcomes, and changes to reporting and audit standards. We analyse how the FRC’s evolving role impacts compliance requirements, financial reporting quality, and audit oversight across the UK accountancy sector.
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Mar- 2025 -24 MarchNews-In-Brief
Today’s news in brief – 24/3/2025
Simmons Gainsford has appointed former PwC senior audit partner Andrew Hill to its audit team. Hill brings over 36 years of experience in financial services, retail businesses, and auditing. His expertise in IFRS, FRS 102, and controls assessments will enhance the firm’s London-based audit practice. Simmons Gainsford, founded in 1948,…
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24 MarchCompanies
FRC relocates London office to Canary Wharf
The Financial Reporting Council (FRC) has relocated its London office from London Wall in Moorgate to Harbour Exchange in Canary Wharf. The move to the new office follows on from the successful opening of its Birmingham office last year, which now hosts 10% of its workforce. The group recently also…
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21 MarchRegulators
FRC unveils three-year strategy to help boost UK growth
The FRC has unveiled plans to continue serving the public interest while actively supporting UK economic growth in a newly published three-year strategy. The new strategy for 2025-28 and annual business plan and budget for 2025-26 set out a series of important changes intended to continue to support businesses and…
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18 MarchNews-In-Brief
Today’s news in brief – 18/3/2025
Xeinadin has acquired Raffingers, a top 100 London-based accountancy firm, in its largest acquisition to date. This move adds 70 team members and follows recent acquisitions of Landmark Accountants and CB Reid. Raffingers specializes in recruitment, charity, property, and construction sectors, offering services like COP8 and COP9 HMRC enquiries, corporate…
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18 MarchRegulators
FRC launches investigation into ISG Limited audit by MacIntyre Hudson
The Financial Reporting Council (FRC) has opened an investigation into the audit of ISG Limited’s consolidated financial statements for the year ending 31 December 2022, conducted by MacIntyre Hudson LLP. The decision to initiate the investigation was made by the FRC’s Conduct Committee during a meeting on 21 January 2025. …
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14 MarchNews-In-Brief
Today’s news in brief – 14/3/2025
The Financial Reporting Council (FRC) has launched an investigation into EY’s audits of a public interest entity (PIE) and a related non-PIE entity for the 2021 and 2022 financial years. The probe follows a decision made by the FRC’s conduct committee in November 2024. The investigation, conducted under the audit…
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14 MarchBig Four
FRC opens investigation into unnamed audits conducted by EY
The Financial Reporting Council (FRC) has opened an investigation into EY’s audits of the consolidated financial statements of a public interest entity (PIE) and a related non-PIE entity for the year ended 31 December 2021 and 2022. News of the investigation follows a decision made by the FRC’s conduct committee…
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Feb- 2025 -25 FebruaryNews-In-Brief
Today’s news in brief – 25/2/2025
MHA has promoted Liam Hammond to audit partner at its Leicester office. Hammond, who joined as an audit trainee in 2006, has steadily advanced, reaching director level in 2020 before his latest promotion. His expertise spans industries such as logistics, pharmaceuticals, and hospitality, with a specialisation in pension scheme audits.…
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25 FebruaryRegulation
FRC issues updated going concern reporting guidance
The Financial Reporting Council (FRC) has issued an updated guidance to help companies demonstrate the assessments underlying their going concern conclusions. The non-mandatory guidance on the ‘Going Concern Basis of Accounting and Related Reporting including Solvency and Liquidity Risks’ now brings together the requirements of company law, accounting standards, auditing…
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21 FebruaryAccounting Standards
ACCA presses FRC on Stewardship Code’s sustainability stance
The Association of Chartered Certified Accountants has urged the Financial Reporting Council not to row back on UK investor governance commitments on sustainability. In response to the FRC’s consultation on its Stewardship Code, the accountancy body has questioned whether the proposed revised definition of ‘stewardship’ could be interpreted as a…
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