Financial Reporting Council

Today the FRC published a consultation on proposed changes to Actuarial Standard Technical Memorandum 1 (AS TM1). AS TM1 plays an important role in helping members of defined contribution pension schemes understand what their retirement savings could look like in the future. We are consulting on proposed updates following our annual review. Have your say by Friday 27 November: https://ow.ly/ZFjt5100VPR #actuarial #pensions

Audit quality cannot be reduced to a single number. The FRC's Audit Firm Metrics provide insight into how the largest audit firms support and deliver quality audits, helping stakeholders understand the factors that drive audit quality. Used alongside other sources of information, they can support better-informed judgement and discussion among Audit Committees, investors and firms: https://lnkd.in/eWr_xJHA #audit

Since December 2023, the FRC and Switzerland's Federal Audit Oversight Authority FAOA have had mutual recognition arrangements in place for statutory auditors. Following updates to Swiss auditor examination regulations, UK audit qualification holders working in Swiss audit firms can now access an accelerated route to Swiss statutory auditor status, reducing the number of exams required from 14 to 3. Exams will also be available in English from 2027, creating new opportunities for UK qualified auditors looking to gain audit signing rights in Switzerland. Find out more about the changes and how they could affect you: https://lnkd.in/eDf2zi-k #audit

Did you know that the FRC carried out 248 corporate reporting reviews this year? Last month, we published our Annual Review of Corporate Reporting 2026 and last week we hosted a #webinar discussing the key findings. If you missed it, our two-page summary provides a concise overview of the review and the trends shaping corporate reporting: https://lnkd.in/eT38SBuq #CorporateReporting

#WorldMenopauseDay #MenopauseAwarenessMonth

Missed yesterday’s #webinar on the FRC’s key findings from the Annual Review of Corporate Reporting 2026? The full recording is now available. Andrew Watchman, Richard Crisp, Robert Carter, Natalia Melnic and Annie Taylor shared the review's findings and their implications for preparers and stakeholders. Watch the recording: https://lnkd.in/e2J7WcVB #CorporateReporting

Join the FRC tomorrow for a #webinar on its recently published Annual Review of Corporate Reporting. Gain valuable insights from the Corporate Reporting Review team, explore the review's key findings and learn about the implications for preparers and stakeholders. Secure your place today as spaces are filling up fast: https://ow.ly/Uij450ZXzX6 #CorporateReporting

Today, the FRC published two thematic reviews highlighting practical opportunities for companies to strengthen their corporate reporting. Covering intangible value drivers and financial instruments, the reviews share insights to help preparers deliver clearer, more useful information for investors and other stakeholders. Learn more: https://ow.ly/S3C450ZXui4 #CorporateReporting

Planning to adopt the revised ISA (UK) 700 before it comes into effect on 15 December 2026? The FRC has published new guidance to support auditors who choose to early adopt the standard. Developed following engagement with audit firms, the guidance aims to help firms navigate implementation considerations and simplify auditor reporting in line with the intended changes. Learn more: https://ow.ly/lFOv50ZX5gb #audit

Yesterday, the FRC’s CEO, Richard Moriarty, delivered a keynote speech at The Centre For Public Interest Audit's (CPIA) annual conference.   In his remarks, Richard highlighted the significant improvement in UK audit quality and trust since 2018 as shown by the FRC’s inspection scores and growing confidence in the value of audit as reported in the CPIA’s Audit Trust Index, demonstrating how high standards and economic growth and complementary, not competing objectives. He stressed that maintaining this progress relied on a continued focus on audit quality through robust professional judgement and scepticism, ethical conduct and a steadfast focus on the public interest.   Richard also took part in a Q&A with the CPIA’s Executive Director, Dean Beale, in which they discussed the Government’s Modernising Corporate Reporting consultation, the future skillset of the audit professional and recent reforms to modernise the FRC’s regulatory approach.