The government’s funding of the
Council is set to be removed.
Its move comes as part of the government’s plan to retain the FRC, but
substantially reformed. the FRC’s future reliance on government funding will
disappear as part of that process.
Government funding currently accounts for 5% of the council’s budget, with
the remaining 95% from market participants.
FRC chief executive Stephen Haddrill said the move would “reinforce” the
FRC’s independence as a regulator.
“The FRC looks forward to working with the government in the coming weeks as
it prepares the Public Bodies Bill to ensure any additional reforms strengthen
our independence and deliver greater transparency in the regulatory and
oversight functions we undertake,” he added.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
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