The UK Financial Reporting Council’s (FRC)
main priorities in the coming year will be to influence
international developments and ensure standards remain fit for
purpose.
The priorities are part of its plan and budget
for 2012-2013. Areas of focus will be:
- Monitoring the health of corporate governance
and reporting in the UK making sure its codes and standards remain
fit for purpose and changes are introduced at the right time; - Making sure the UK’s approach to corporate
governance and reporting is properly understood and appreciated in
the EU and internationally. - Working with the Department for Business to
press for the policies of the EU on governance and audit to serve
the interests of investors; - Focusing on the effectiveness of its
monitoring, oversight and disciplinary work, ensuring that the FRC
is responsive to emerging risks, joined up, transparent and
proportionate. The FRC will review further the scope of its conduct
work and sanctions; and, - Following Government approval and subject to
Parliamentary debate, the FRC will ensure that the final decisions
on the reform of the FRC are introduced effectively.
The FRC said its overall budget for 2012/13
will be £22.4m, and the budget for core operating costs will be
£14.6m, down 2% compared to 2011/12. It also said there will be no
increase in the average levy charged to publicly traded companies,
insurance companies and pension schemes.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
