RegulationRegulatory BodiesTaking Stock: Some festive reading from the FRC

Taking Stock: Some festive reading from the FRC

With seven notable releases in seven days, TS wonders what the FRC has been doing all year

SPARE A THOUGHT for the regulatory boffins over at the FRC.

While the rest of us have been getting a bit demob pre-Christmas – well TS has anyway – the FRC has been very busy indeed, issuing a flurry a reports, responses, statements and thematic studies over the past week.

Over the past seven days the profession’s regulator has published seven initiatives and/or findings of note.

Now, TS isn’t casting aspersions on the validity of the work, far from it. Nevertheless it does beg the question about how the FRC has been managing its work flow during the rest of the year.

With more announcements expected before the holidays, TS is confident of having enough reading to be kept busy through the festive period.

Consistency in reporting exceptional items and a draft response to IFRS for SMEs…well it beats Dan Brown.

If you are of a mind on brushing up, here is the list in full:

Draft Response to IFRS for SMEs;
FRC proposes first annual update to the Reduced Diclosure Framework;
FRC issues report on auditor’s materiality judgments;
FRC seeks consistency in the reporting of exceptional items;
FRC calls for rapid improvement in the quality of ban audits;
FRC publishes draft plan & budget for 2014/15; and
FRC proposal to simplify accounting for smaller busineses  

Related Articles

FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

2m Alia Shoaib, Reporter
Ex-RSM Tenon CEO fined; ex-FD and PwC face complaints over its accounting

Accounting Standards Ex-RSM Tenon CEO fined; ex-FD and PwC face complaints over its accounting

1y Kevin Reed, Writer
Sports Direct implements FRC corrections in annual reporting

Accounting Standards Sports Direct implements FRC corrections in annual reporting

1y Stephanie Wix, Writer
CIIA appoints ex-FRC chief Paul Boyle as president

Company News CIIA appoints ex-FRC chief Paul Boyle as president

1y Stephanie Wix, Writer
FRC appoints former ICAEW president to its board

People Practice FRC appoints former ICAEW president to its board

1y Stephanie Wix, Writer
Watchdog launches audit investigation into Sports Direct

Accounting Firms Watchdog launches audit investigation into Sports Direct

1y Stephanie Wix, Writer
Record fine for Deloitte and audit partner over Aero misconduct

Accounting Standards Record fine for Deloitte and audit partner over Aero misconduct

1y Stephanie Wix, Writer
Cashflow statement improvements targeted by watchdog

Accounting Standards Cashflow statement improvements targeted by watchdog

1y Stephanie Wix, Writer