BusinessCompany NewsNew reporting proposals due by year-end

New reporting proposals due by year-end

The government body set up to oversee and co-ordinate the UK's response to recent corporate disasters such as Enron and WorldCom is now expected to put forward proposals for reform.

Link: Wyman appointed deputy chairman at FRC

The government’s Co-ordinating Group on Audit and Accounting Issues, set up under the umbrella of companies watchdog, the Financial Reporting Council, is now expected to develop a ‘proactive element to its work’ and come up with ‘specific proposals’ by year-end.

A panel has been established by FRC chairman Sir Bryan Nicholson to undertake this task, It is to be chaired by Ian Brindle, deputy chairman of the FRC, and a former PwC chairman. Other representatives include Martin Eadon, a partner at Deloitte & Touche, Andrew Popham, partner at PwC and George Rose, finance director at BAE Systems.

The group must come up with proposals for deciding the best way of sampling accounts for review, the manner in which reviews should be carried out and the type of follow-up action that should be taken.

In addition the group is also expected to carry out some reviews of company financial statements to demonstrate how to apply these recommendations.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

5m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

5m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

8m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor