Financial Reporting Review Panel

Type: Organization
Name: Financial Reporting Review Panel
First reported Oct 18 2014 - Updated Oct 18 2014 - 1 reports

Essential Corporate News – Week ending October 17, 2014

the Financial Reporting Council (FRC) published its Corporate Reporting Review Annual Report. On the same day, the FRC published the technical findings of the Conduct Committee's Financial Reporting Review Panel 2013-14. The Annual Report, which is based ... [Published Norton Rose Canada - Oct 18 2014]
First reported Oct 15 2014 - Updated Oct 15 2014 - 1 reports

FRC publishes Corporate Reporting Review Annual Report 2014

The Financial Reporting Council (FRC) has today published its Corporate Reporting Review Annual Report 2014. This report provides an overview of the FRC's corporate reporting review activities for the year ended 31 March 2014. It includes the FRC's assessment ... [Published IAS Plus - Oct 15 2014]
First reported Oct 07 2014 - Updated Oct 08 2014 - 1 reports

FRC formalises increased transparency of its review of company accounts

60/1407 Oct 2014The Financial Reporting Council (FRC) today publishes revised operating procedures for its review of company reports and accounts for compliance with relevant reporting requirements. As a result, those companies that make a significant ... [Published Financial Reporting Council - Oct 07 2014]
First reported Oct 06 2014 - Updated Oct 06 2014 - 1 reports

Leader: Reporting watchdog needs sharper teeth

THE FINANCIAL REPORTING COUNCIL is being hamstrung in its ability to investigate corporates suspected of misconduct because it lacks the necessary investigatory powers. Government needs to give the reporting and governance watchdog some sharper teeth ... [Published Financial Director - Oct 06 2014]
First reported Oct 01 2014 - Updated Oct 01 2014 - 2 reports

Tesco : Starts Full Investigation Into Accounting Error

By Ian WalkerLONDON--U.K.-based supermarket chain Tesco PLC (TSCO.LN) said Wednesday it has started a full investigation following the overstatement of expected profit for the half year, and is cooperating fully with the U.K. Financial Reporting Council ... [Published 4 Traders - Oct 01 2014]
First reported Oct 01 2014 - Updated Oct 01 2014 - 1 reports

Avoiding the trap

The decision by the IFRS interpretations committee to re-examine its asset-ceiling guidance should serve to focus minds once again on how defined-benefit plan sponsors can address the danger of a trapped surplus. Stephen Bouvier explores the issues with ... [Published Investment Pensions Europe - Oct 01 2014]
First reported Sep 25 2014 - Updated Sep 25 2014 - 1 reports

Financial Reporting Council monitor Tesco scandal

25/09/2014:  As Tesco shares continued to slide, the Financial Reporting Council (FRC) has said that it is closely monitoring the situation after Tesco’s announcement that it overstated profit estimates by more than £250m.The FRC has disciplinary powers ... [Published Retail Fraud - Sep 25 2014]
First reported Sep 24 2014 - Updated Sep 24 2014 - 3 reports

Watchdog ‘closely’ monitoring Tesco finance crisis

The UK’s accountancy watchdog is monitoring the handling of the financial crisis at Tesco “closely” before deciding whether it should step in to consider taking further action, it emerged today.The Financial Reporting Council issued a statement saying ... [Published Grocer - Sep 24 2014]
First reported Sep 24 2014 - Updated Sep 24 2014 - 5 reports

Tesco director kept out of monitoring by accountancy watchdog, says FRC

Tesco's non-executive director Mark Armour, who also sits on the FRC board, is not involved in discussions about the supermarket's accounts shortfall. Photograph: Will Oliver/EPAAccountancy watchdog the Financial Reporting Council confirmed on Wednesday ... [Published Guardian.co.uk - Sep 24 2014]
First reported Sep 04 2014 - Updated Sep 05 2014 - 1 reports

Hewlett-Packard concerns over Autonomy deals with Washington firm

Autonomy’s founder Mike Lynch denies any wrongdoing, with a spokesman dismissing as false any suggestions the purchase of MicroLink was designed to wipe out its debt to the British firm. Photograph: Matt LLoyd/Rex FeaturesAutonomy , the leading British ... [Published Guardian.co.uk - Sep 04 2014]
First reported May 29 2014 - Updated May 29 2014 - 1 reports

Charity ethical investments push corporates like PepsiCo on morals

Where are your investments going? It's the question increasingly being asked of charities after December's Panorama investigation put charity assets under the spotlight.The sector has a prime opportunity to influence the ethics of mainstream companies ... [Published Guardian.co.uk - May 29 2014]

Quotes

The FRC said it "will consider the outcome of the investigation announced by the company and determine whether it should take regulatory action."
"The FCA Rules do not require the half yearly financial report to be audited or reviewed but if they are, auditors are required to follow ISRE 2410 and the audit or review report must be reproduced in full. If they are not audited or reviewed by auditors, the issuer must make a statement to that effect in its interim report (DTR 4.2.9R)"
"Everybody in Tesco today worldwide will be under pressure to come clean. So similar issues may come up in other regions. Other bad practices could come to light as well that will impact historical accounts."
...MicroLink so it could keep supplying software to sensitive branches of the US federal government," a spokesman for Autonomy's former managers said. "MicroLink's most important assets were its security cleared personnel and a secure facility. Without it, changes to the US government rules meant that, as a foreign owned company, Autonomy would have had to withdraw from this significant market."

More Content

All (20) | News (19) | Reports (0) | Blogs (0) | Audio/Video (0) | Fact Sheets (1) | Press Releases (0)
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Essential Corporate News – Week ending October ... [Published Norton Rose Canada - Oct 18 2014]
FRC publishes Corporate Reporting Review Annual... [Published IAS Plus - Oct 15 2014]
FRC formalises increased transparency of its re... [Published Financial Reporting Council - Oct 07 2014]
Leader: Reporting watchdog needs sharper teeth [Published Financial Director - Oct 06 2014]
Tesco : Starts Full Investigation Into Accounti... [Published 4 Traders - Oct 01 2014]
Avoiding the trap [Published Investment Pensions Europe - Oct 01 2014]
Tesco to face FRC accounts inquiry in move that... [Published NewsRT.co.uk - Oct 01 2014]
Financial Reporting Council monitor Tesco scandal [Published Retail Fraud - Sep 25 2014]
Watchdog ‘closely’ monitoring Tesco finance crisis [Published Grocer - Sep 24 2014]
FRC monitoring Tesco situation [Published Economia - Sep 24 2014]
Financial Reporting Council Monitoring Tesco Af... [Published 4 Traders - Sep 24 2014]
Tesco director kept out of monitoring by accoun... [Published Guardian.co.uk - Sep 24 2014]
FRC drawn into Tesco accounting debacle [Published Accountancy Live - Sep 24 2014]
FRC steps into Tesco breach [Published Accountancy Age - Sep 24 2014]
Regulator is closely watching Tesco [Published City A.M. - Sep 24 2014]
Tesco could be forced to restate accounts [Published Telegraph - Sep 24 2014]
Hewlett-Packard concerns over Autonomy deals wi... [Published Guardian.co.uk - Sep 04 2014]
Charity ethical investments push corporates lik... [Published Guardian.co.uk - May 29 2014]
Review Panel Finding [Published TrustNet - Feb 28 2014]
Biography for George Rose [Published Able2Act - Feb 23 2007]
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