RegulationAccounting StandardsHaddrill calls for expanded FRC powers

Haddrill calls for expanded FRC powers

Haddrill wants power to share information within FRC

Medium

The head of UK’s reporting regulator wants greater power to share information within his own council.

Stephen Haddrill, chief executive of the Financial Reporting Council, said he wants more powers to share information between departments, in an interview with the Daily Mail.

“There are weaknesses in our powers that we would like to see addressed…Legal restrictions stop us sharing information not only with outside bodies, but even within the FRC,” he said.

“For example, one part of the FRC may be looking at a company’s accounts while another part may be looking at its audit, but they cannot confer.”

The FRC includes six regulatory bodies, including the audit regulator the Accountancy & Actuarial Discipline Board and the Accounting Standards Board.

Further Reading:

STEPHEN HADDRILL INTERVIEW: Shadowy world of the investors’ champion

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