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Home > QFINANCE Dictionary > Definition of Financial Reporting Council

Definition of

Financial Reporting Council

Regulation & Compliance

UK regulator for corporate reporting in the United Kingdom, an independent regulator responsible for setting standards for corporate reporting and actuarial practice, as well as monitoring and enforcing accounting and auditing standards. They also oversee the regulatory activities of the professional accounting bodies and operate independent disciplinary arrangements for public interest cases involving accountants and actuaries.

Related definitions of "Financial Reporting Council"

Recommended Further Reading (Term count)
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    In a sense, this is part of the larger question about audit quality, which has never gone away and continues to be a perennial concern. To place this in context, the audit profession is subject to continuous review of the quality of its work. This is part of the brief of the Financial Reporting Council (FRC), which is responsible for upholding the quality of the audits of the financial statements of all companies in the United Kingdom. As such,...
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Definitions of ’Financial Reporting Council’ and meaning of ’Financial Reporting Council’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Financial Reporting Council’ and other financial terms with our online QFINANCE Financial Dictionary.

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