FRC Publishes its Updated Regulatory Strategy and its Plan & Budget 2006/07

FRC PN 135

The Financial Reporting Council (FRC), the UK’s unified independent regulator for corporate reporting and governance, has today published its updated Regulatory Strategy and its Plan & Budget for 2006/07.

The introduction in 2005 of IFRS, the amended requirements for narrative reporting, and the new ethical standards for auditors has resulted in those involved in corporate reporting and governance facing a period of significant change and a heavier-than-usual workload. As a consequence, the FRC is not proposing any major additional reporting or governance requirements in 2006/07.

The key features of the Plan & Budget for 2006/07 are that the FRC intends to:

See full Press Release and access to Regulatory Strategy and Plan & Budget for 2006/2007, both in pdf format.