FRC welcomes removal of government funding as a reinforcement of its independence
The government's funding of the Financial Reporting Council is set to be removed.
Its move comes as part of the government's plan to retain the FRC, but substantially reformed. the FRC's future reliance on government funding will disappear as part of that process.
Government funding currently accounts for 5% of the council's budget, with the remaining 95% from market participants.
See full Article.
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