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:
“A special feature of the structure of our book is the monstrous but perfectly organic part that eavesdropping plays in it.”
—Vladimir Nabokov (1899–1977)
“When a house is tottering to its fall,
The strain lies heaviest on the weakest part,
One tiny crack throughout the structure spreads,
And its own weight soon brings it toppling down.”
—Ovid (Publius Ovidius Naso)
“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)