Changes aim to improve communication between Financial Reporting Review Panel and AIU and allow Panel more discretion to announce significant changes to company accounts
THE FINANCIAL Reporting Review Panel (FRRP) has published revised operating procedures that will encourage the sharing of information with the Audit Inspection Unit (AIU).
The FRRP said that, following a consultation, it plans to share more information with the AIU, particularly when the FRRP finds failings in company accounts.
The FRRP also said that if a company makes significant changes to financial or corporate reporting after an intervention by the FRRP, it will reserve the right to make these changes public.
More about:
The numbers you crunch tell a story. Your expertis...
12yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe judgement concludes more than five years of probes into the audit firm’s accounts Read More...
View articleSpeaking exclusively to Accountancy Age in the first of a two-part series, Sir Donald Brydon - author of the report into the effectiveness and quality...
View articlePhil Shohet of Foulger Underwood shares his thoughts on the great audit debate. Read More...
View articleThis year has seen the FRC cracking down on audit misconduct, handing out a series of record fines to the Big Four firms. Here are some of the biggest...
View articleCommissioning and preparing an asset valuation for financial reporting should involve a three way dialogue between the client, valuer & auditor Re...
View articleBuilding on well-established reporting regime would minimise disruption, ICAEW says Read More...
View articleFRC to raise levies as government funding withdrawn Read More...
View articleFRC guidance makes clear requirements relating to going concern and solvency and liquidity risk Read More...
View article