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 philosopher believes that the value of his philosophy lies in its totality, in its structure: posterity discovers it in the stones with which he built and with which other structures are subsequently built that are frequently better—and so, in the fact that that structure can be demolished and yet still possess value as material.”
—Friedrich Nietzsche (1844–1900)
“I’m a Sunday School teacher, and I’ve always known that the structure of law is founded on the Christian ethic that you shall love the Lord your God and your neighbor as yourself—a very high and perfect standard. We all know the fallibility of man, and the contentions in society, as described by Reinhold Niebuhr and many others, don’t permit us to achieve perfection.”
—Jimmy Carter (James Earl Carter, Jr.)
“Who says that fictions only and false hair
Become a verse? Is there in truth no beauty?
Is all good structure in a winding stair?
May no lines pass, except they do their duty
Not to a true, but painted chair?”
—George Herbert (1593–1633)