The Financial Reporting Council
The Financial Reporting Council (FRC) is the UK's independent regulator for corporate reporting and governance.
Initially, the FRC was established in 1990 to promote good financial reporting through its two subsidiaries, the Accounting Standards Board (ASB) and the Financial Reporting Review Panel (FRRP). However, the US accounting scandals led the UK Government to review regulation in this area giving the FRC an expanded and more active role.
The FRC's main purpose is to:
- set, monitor and enforce accounting and auditing standards.
- oversee the regulatory activities of the professional accountancy bodies.
- promote high standards of corporate governance.
The activities of the FRC are mainly directed towards listed companies and companies required to prepare accounts under the Companies Acts, but are also relevant to other organisations required to submit accounts. These include public benefit entities that comprise most public sector organisations and many other not for profit bodies.
The FRC values diversity in both executive and non-executive appointments and welcomes applicants from any background. The FRC recruits staff on the basis of fair and open competition and selection on merit.
Contact details
Financial Reporting Council
5th Floor, Aldwych House
Aldwych
London WC2B 4HN
Tel: 020 7492 2300
Fax: 020 7492 2301
m.lewington@frc.org.uk
www.asb.org.uk