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FRC publishes revised operating procedures for reviewing corporate reporting

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03 Apr 2017

The Financial Reporting Council (FRC) has today published revised operating procedures for its Conduct Committee for when it reviews company reports and accounts.

The revised operating procedures, which took effect from 1 April 2017, have been published following a consultation in October 2016.  

They will increase the transparency of the Conduct Committee’s processes by permitting the publication of the names of those companies whose reports and accounts have been reviewed, once the case has been closed.  The revised operating procedures will also allow the Conduct Committee to issue press notices referring to matters that have come to its attention that it feels warrant sharing more widely.  However, in these cases, individual company names will not be identified. 

Alongside the revised operating procedures, the FRC has published a feedback statement on its October 2016 consultation and has updated its ‘Frequently Asked Questions’ to reflect the revised operating procedures. 

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