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:
“In the extent and proper structure of the Union, therefore, we behold a republican remedy for the diseases most incident to republican government.”
—James Madison (1751–1836)
“Just as a new scientific discovery manifests something that was already latent in the order of nature, and at the same time is logically related to the total structure of the existing science, so the new poem manifests something that was already latent in the order of words.”
—Northrop Frye (b. 1912)
“Communism is a proposition to structure the world more reasonably, a proposition for changing the world. As such, we have to analyze it and, if we deem it reasonable, act upon it.”
—Friedrich Dürrenmatt (1921–1990)