The Financial Reporting Council (FRC) has released its annual report for 2018/19, reaffirming its commitment to improving the quality of reporting. The report outlines the FRC’s progress in boosting enforcement resourcing and tackling low-quality audit work.
Work undertaken in 2018/19 includes consulting on an overhaul of the UK Stewardship Code and revising the Corporate Governance Code. The FRC has also successfully increased enforcement resourcing by 25 per cent.
This comes as the FRC prepares for its eventual transition into a new regulatory body. To read more or to access the full report, click here.