This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

FRC publishes annual report 2016/17

  • FRC Image

20 Jul 2017

The Financial Reporting Council (FRC) has published its 2016/17 annual report (“the annual report”).

The annual report outlines the FRC’s financial position, highlights achievements and challenges in 2016/17 and also identifies areas that it will focus on in 2017/18. The annual report also outlines the progress made in the FRC’s strategy for 2016-19.

In 2017/18 the FRC will aim for “further improvements in governance, reporting, auditing and actuarial work, which will contribute to increased trust and confidence in business”. 

Specifically the FRC’s priorities for 2017/18 include:

  • Driving further improvements in the quality of audit, including through a thematic review of audit firm culture
  • A comprehensive review of the UK Corporate Governance Code and promotion of its work on corporate culture. Also a review of the UK Stewardship Code.
  • Promotion of Clear and concise reporting by companies, including through a Financial Reporting Lab project on reporting of principal risks and viability statements.
  • Enhancing the speed and effectiveness of its enforcement role, including a review of its sanctions.

Click for (all links to FRC website):

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.