FRC expresses support for reform proposals

Feb 07, 2018
The Financial Reporting Council (FRC) has expressed its strong support for the objectives of the reform proposals issued by the Monitoring Group following its consultation on strengthening the governance and oversight of audit-related standard setting in the public interest.

The FRC considers that reform should be extended throughout the standard setting framework and that the Monitoring Group should articulate its reform proposals for both the Public Interest Oversight Board and the Monitoring Group itself, as well as for the standard setting board.

This should include an implementation timetable, which should be provided when it sets out its final reform proposals later in the year.

The FRC’s full response is available here.

Source: Financial Reporting Council.