The Financial Reporting Council (FRC)

The Financial Reporting Council (FRC) is an independent body in the UK that oversees accounting, auditing, and corporate governance standards. Its main role is to ensure that financial reports of companies are accurate, transparent, and comply with established rules. This helps investors and the public trust that businesses are reporting their financial health honestly. The FRC also monitors the performance of auditors and promotes high-quality standards in financial reporting, which is essential for maintaining the integrity of the financial markets and protecting stakeholders’ interests.