Press release

Independent review of the Financial Reporting Council (FRC) launches call for evidence

The review will help to ensure the FRC's role and powers are fit for the future.

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The independent review of the Financial Reporting Council has today (6 June 2018) launched a call for evidence.

The review, led by Sir John Kingman, is keen to hear from stakeholders on a range of themes including its:

  • role and purpose
  • effectiveness and its powers
  • potential role in preventing corporate failure
  • legal status and relationship with the Government
  • governance and leadership.

Sir John Kingman said:

The FRC’s work is critical to financial markets, the economy and public confidence. Trust, quality and credibility are the questions at the heart of today’s consultation.

The review wants to hear the widest possible range of views on how the regulatory system can best deliver for the future.

The call for evidence builds on the framework set out by the review’s terms of reference, and the consultation period closes on 6 August 2018.

The review by Sir John is supported by an advisory group, announced on 18 May 2018, which is responsible for scrutinising and challenging the review’s findings and recommendations, as well as advising on the direction of the review and its sources of evidence.

Published 6 June 2018