An independent UK regulatory body responsible for promoting high quality corporate governance and reporting to foster investment. Among other things, the FRC:
Sets codes and standards for:
auditing and actuarial work.
Reviews public interest entities' reports.
Accounts for compliance with the applicable financial reporting framework.
Investigates misconduct by professional accountants and actuaries.
The FRC Board decides the FRC's strategic direction and how it discharges its responsibilities.
For further information on the FRC, see its website (Financial Reporting Council (www.practicallaw.com/T1537)). For further information on the FRC's work concerning the UK Corporate Governance Code, see Practice notes, UK Corporate Governance Code: overview (www.practicallaw.com/9-502-0734) and Annotated UK Corporate Governance Code: Index (www.practicallaw.com/6-508-2403).