• Register
Return to: Home > News > Letter to the Editor: He shot the sheriff, Prem Sikka interview

Letter to the Editor: He shot the sheriff, Prem Sikka interview

Sir,

I read your interview with Prem Sikka (Issue 6131) with interest. His comments about the Financial Reporting Council (FRC) and its constitution require some clarification.

The FRC is a private company but its range of responsibilities comes from a variety of sources including responsibilities delegated to it by statute. We are committed to exercising those responsibilities in the public interest.

The FRC's constitution, responsibilities and funding were reviewed by the Government in 2012 to ensure that it remains appropriate for the FRC to exercise its suite of responsibilities.

We are accountable to the Secretary of State and report to him annually. That report is tabled in Parliament. We consult annually on our priorities and our budget as well as on a wide range of our specific activities. We are regularly asked to give evidence to Select Committees.

We clearly have a duty of care to all our stakeholders. Chief among them are investors in UK listed companies and British businesses which benefit from that investment.

Peter Timberlake
Head of Communications, Financial Reporting Council, London

Top Content

    2018 Digital Accountancy forum and awards: Digital transformation

    The Accountant presents highlights from The Digital Accountancy Forum & Awards 2018 panel discussions

    read more

    2018 Digital Accountancy Forum and Awards: Tech deep dive

    The second panel session of the day saw experts discuss how new technologies should not just be seen as a threat, and could be used to improve accounting.

    read more

    Digital Accountancy Forum and Awards: The power of data

    The third panel discussion of the day saw panellists discuss some of the worries their clients have had, how to overcome them, and how data and technology are providing real business opportunities.

    read more

    Digital Accountancy Forum and Awards: The next generation

    With young people more mobile, and technology changing the industry rapidly, the final panel session of the Digital Accountancy Forum looked at how firms would need to adapt to the new reality

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.