Overview
The Financial Reporting Council’s (FRC’s) mission is to serve the public interest by setting high standards of corporate governance, reporting and audit and holding to account those responsible for delivering them. We are the UK Competent Authority for audit. We also set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work, monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our work can be found at www.frc.org.uk.
As the UK Competent Authority for audit, the FRC’s Enforcement Division conducts investigations and takes enforcement action into breaches of audit standards under the Audit Enforcement Procedure (AEP). As the independent disciplinary body for the accountancy and actuarial professions in the UK, the Division also undertakes professional disciplinary investigations and enforcement action under the Accountancy and Actuarial Schemes (the Schemes) in cases involving accountants, accountancy firms and actuaries which raise important issues affecting the public interest in the UK.
Many of the investigations are large, complex, and high-profile and our cases regularly require liaison with other investigators including the Serious Fraud Office, the Financial Conduct Authority, the Insolvency Service and the Pensions Regulator. Examples of recent case outcomes can be found on our website.
#J-18808-Ljbffr