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Financial Reporting Council Investigations

The Financial Reporting Council (FRC) is, like the FCA, a private limited company with direct statutory powers and some delegated statutory powers.

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What is the Financial Reporting Council (FRC) responsible for?

  • Setting the UK’s Corporate Governance and Stewardship Codes;
  • Setting the UK’s standards for accounting and actuarial work;
  • Monitoring and taking action to promote quality of corporate reporting; and
  • Operating an independent enforcement function for accountants and actuaries (practising and non-practising members of ICAEW, CIMA, ACCA, and ICAS)

The enforcement function (Executive Counsel and Enforcement Division) investigates individual conduct (commonly, a lack of professional competence) when the FRC’s Conduct Committee decides the FRC should commence an investigation and refers it to that function.

Richardson Lissack’s approach to FRC enforcement investigations is holistic.  Given the limited evidence-gathering powers at the FRC’s disposal, great care needs to be taken in how subjects engage with the interview process.  Richardson Lissack has substantial experience of successfully guiding subjects of FRC enforcement investigations through what is a long and stressful process.

Prevention is better than a cure

How Richardson Lissack can help

Our lawyers are available to assist you and provide legal advice.

Contact London 020 3753 5352 or Manchester 0161 834 7284. Alternatively you can email info@richardsonlissack.co.uk

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Our team of experts

Tim Thomas
Director
Tim Thomas

“From the day we appointed Tim and his team, the communication with us was outstanding, always at the end of the phone or email, more than often outside office hours, with a fantastic level of knowledge.”

Viviana Silva
Paralegal
Viviana Silva

“Viviana is amazing she goes above and beyond in her support for the client. I want to give Viviana an extra thanks because she was always there making sure I felt ok, was always making an extra effort to help me with any difficulty I had and also like Kim she was always there after work hours to reassure me and calm me down if I was having a meltdown moment of worry or panic.”

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