Brexit

FRC UK Statement on the referendum vote to leave EU – Our regulatory framework is unchanged and we will continue to apply it.

FRC UK statement following the referendum vote to leave EU

24 Jun 2016

“Stakeholders have asked about the implications of the referendum result for our regulatory work. Our regulatory framework is unchanged and we will continue to apply it. The FRC will also continue to play its part in representing the interests of the UK internationally. We will pay close attention to the decisions now taken by the Government and Parliament, and continue to work in collaboration with our key stakeholders, particularly investors, business and the professionals we regulate, in order to ensure our work continues to support economic growth.”
 
Note:
The Financial Reporting Council (FRC) is the UK’s and the Republic of Ireland’s independent regulator responsible for promoting high quality corporate governance. The FRC incorporates six operating bodies. The FRC set standards for corporate reporting, audit and actuarial practice and monitor and enforce accounting and auditing standards. It also oversee the regulatory activities of the actuarial profession and the professional accountancy bodies and operate independent enforcement arrangements for public interest cases involving accountants and actuaries in the UK and the Republic of Ireland. The six operating bodies of FRC are as under:
1. Accounting Standards Board (ASB)
2. Financial Reporting Review Panel (FRRP)
3. Accountancy & Actuarial Discipline Board (AADB)
4. Professional Oversight Board (POB)
5. Auditing Practices Board (APB), and
6. Board for Actuarial Standards
 
----------- Similar Posts: -----------
Share

Recent Posts

  • Income Tax

In absence of mala fide intention bank should not be treated as assessee in default

In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit…

2 days ago
  • Income Tax

Whether bank account was fraudulently open in the name of assessee is question of fact

Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain…

2 days ago
  • Concurrent Audit

SBI Concurrent Auditor Empanelment of Chartered Accountant Firms 2024-25. Last date 18.05.2024

SBI Concurrent Auditor Empanelment of Chartered Accountant Firms for FY 2024-25 SBI Concurrent Auditor Empanelment of CA Firms for FY…

2 days ago
  • Companies Act

Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants

Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…

3 days ago
  • VAT

Trade Tax refund withheld beyond stipulated period & adjusted from demand unjustified – SC

Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…

3 days ago
  • Income Tax

Notice issued u/s 143(2) prior to filing of return of income assessee is invalid

Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…

4 days ago