Structure
It is a company limited by guarantee, partly funded by government and the industry and its Board of Directors is appointed by the Secretary of State for Business, Innovation and Skills. It and its subsidiaries play crucial roles in the oversight and development of corporate governance standards in the UK, such as the UK Corporate Governance Code and standards for the accounting industry.
The FRC incorporates six operating bodies:
- Accounting Standards Board (ASB)
- Financial Reporting Review Panel (FRRP)
- Accountancy & Actuarial Discipline Board (AADB)
- Professional Oversight Board (POB)
- Auditing Practices Board (APB)
- Board for Actuarial Standards (BAS)
Read more about this topic: Financial Reporting Council
Famous quotes containing the word structure:
“... the structure of our public morality crashed to earth. Above its grave a tombstone read, “Be tolerant—even of evil.” Logically the next step would be to say to our commonwealth’s criminals, “I disagree that it’s all right to rob and murder, but naturally I respect your opinion.” Tolerance is only complacence when it makes no distinction between right and wrong.”
—Sarah Patton Boyle, U.S. civil rights activist and author. The Desegregated Heart, part 2, ch. 2 (1962)
“Vashtar: So it’s finished. A structure to house one man and the greatest treasure of all time.
Senta: And a structure that will last for all time.
Vashtar: Only history will tell that.
Senta: Sire, will he not be remembered?
Vashtar: Yes, he’ll be remembered. The pyramid’ll keep his memory alive. In that he built better than he knew.”
—William Faulkner (1897–1962)
“With sixty staring me in the face, I have developed inflammation of the sentence structure and definite hardening of the paragraphs.”
—James Thurber (1894–1961)