The Financial Reporting Council (FRC) has recommended that PwC should pay a record £6m fine over its audit of the collapsed social housing maintenance firm, according to reports The accountancy watchdog, which conducted a five-year investigation, suggested the fine in a public hearing on Thursday after the Big Four firm admitted to failings in the […]

The Government has tabled proposals for a governance code to bring large private companies in line with their stock market-listed counterparts. Following increased scrutiny of Britain’s boardrooms after a number of high-profile scandals, including the collapse of BHS, the green paper published today by the Department for Business, Energy and Industrial Strategy (BEIS) proposes to extend […]

The following update is relevant to – all those responsible for preparing annual reports, especially in corporates. On 11 October, the Financial Reporting Council (FRC) issued guidance to preparers of annual reports of around 1,200 large and smaller listed companies. The letter highlights key issues and improvements that can be made to annual reports in […]

On 20 July, the Financial Reporting Council (FRC) published a report on the results of its study of the relationship between corporate culture and long-term business success in the UK, ‘Corporate culture and the role of boards’. The FRC explains in its press release: ‘stakeholders and society in general have a vested interest in healthy […]