FRC consults on its priorities and funding
1 Feb 10
The FRC has published its priorities for 2010/11 and its funding proposals. The paper “Draft Plan and Levy Proposals 2010/11” is on the FRC website and responses are requested by 10 March 2010
FRC Chairman, Sir Christopher Hogg, said: “The economic outlook may not be as depressed or unstable as it was when we published our Plan for 2009/10, but there are clearly still major challenges for boards, audit committees, preparers, auditors, actuaries and accountants.
“Our draft plan invites views on the FRC’s response to these issues over the medium term.”
The key priorities for the FRC’s work in 2010/11 are to:
• Help boards, preparers, audit committees, auditors, actuaries, and investors to address the challenges associated with current conditions – and monitor their response to these challenges.
• Identify and respond to the longer term lessons of the financial crisis.
• Influence, and respond to, a range of international initiatives in relation to corporate reporting and governance.
• Enhance its own effectiveness and efficiency as a regulatory authority. In particular, to build links with the investment community.
The FRC will finalise its 2010/11 plan and levy proposals in May 2010.