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FRC publishes summaries of its corporate reporting reviews

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26 Mar 2021

The Financial Reporting Council (FRC) has published summaries of its corporate reporting reviews for the first time.

This increased transparency is aligned with a recommendation of Sir John Kingman’s Independent Review of the FRC that reviews should be made publicly available. Due to company law requirements, summaries can only be published with the consent of individual companies.

As part of the recently launched consultation Restoring trust in audit and corporate governance the Government is consulting on proposals to allow the FRC to publish summaries without the consent of companies, once sufficient safeguards around confidential information are in place.

Previously the FRC has published the names of companies reviewed, whether a full review was conducted and whether substantive correspondence had been entered into, without providing further details of review findings.

Further details are provided on the FRC website.

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