The Financial Reporting Council (FRC) is holding a consultation for all those in
accountancy jobs to improve the cost-effectiveness of its regulation.
It is hoping to highlight ways of reducing the cost of complying with FRC regulation without compromising high standards of corporate governance and reporting.
All those in the profession are invited to view and comment on a document which highlights previous efforts to reduce costs, which includes a major project planned to review the complexity and relevance of corporate reports.
"We hope that the publication of this paper will stimulate a continuing dialogue with stakeholders about ways to improve the cost effectiveness of FRC regulation whilst preserving confidence on corporate reporting and guidance," explained Paul Boyle, chief executive of the FRC.
The published document also includes examples of the body's work on reducing costs of compliance with new international laws in accounting and
audit jobs.
Richard Dyson, president of the Institute of Chartered Accountants in England and Wales, recently criticised the number of FRC consultations.
Reported in Accountancy Age, Mr Dyson stated that the sheer number of consultations were creating extra burden for accountants.
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