PracticeAuditFRRP keeps focus on bank reports

FRRP keeps focus on bank reports

FRRP expands its gaze across services sectors

Banking financial reports will again come under extra scrutiny from the UK’s
watchdog.

The Financial Reporting Review Panel said the accounts of the banking sector,
retail, travel and leisure, commercial property and housebuilders would continue
to be closely watched across 2009/2010.

With the struggling economy, the FRRP will extend its gaze to take into
account other services sectors such as advertising, media, recruitment and
technology.

‘In this difficult economy it is more important than ever that directors try,
so far as they can, to offer a clear account of their company’s achievements and
the risks that the company faces,’ said Bill Knight, chairman of the panel. The
panel will encourage clarity and frankness in compliance with the law.’

Further reading:

Reporting issues flagged by
FRRP

FRRP raps Wilmington put option
accounting

Related Articles

Financial reporting watchdog to share more information with Audit Inspection Unit

Audit Financial reporting watchdog to share more information with Audit Inspection Unit

6y Richard Crump, Writer
Rio Tinto enquiry closed by accounting watchdog

Audit Rio Tinto enquiry closed by accounting watchdog

7y Rose Orlik
AIM-listed companies need to lift financial reporting standards

Audit AIM-listed companies need to lift financial reporting standards

7y Mario Christodoulou, Writer
Concerns over FTSE 250 company's accounting policy

Audit Concerns over FTSE 250 company's accounting policy

8y Mario Christodoulou, Writer