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 verbal poetical texture of Shakespeare is the greatest the world has known, and is immensely superior to the structure of his plays as plays. With Shakespeare it is the metaphor that is the thing, not the play.”
—Vladimir Nabokov (1899–1977)
“I really do inhabit a system in which words are capable of shaking the entire structure of government, where words can prove mightier than ten military divisions.”
—Václav Havel (b. 1936)
“There is no such thing as a language, not if a language is anything like what many philosophers and linguists have supposed. There is therefore no such thing to be learned, mastered, or born with. We must give up the idea of a clearly defined shared structure which language-users acquire and then apply to cases.”
—Donald Davidson (b. 1917)