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:
“One theme links together these new proposals for family policy—the idea that the family is exceedingly durable. Changes in structure and function and individual roles are not to be confused with the collapse of the family. Families remain more important in the lives of children than other institutions. Family ties are stronger and more vital than many of us imagine in the perennial atmosphere of crisis surrounding the subject.”
—Joseph Featherstone (20th century)
“For the structure that we raise,
Time is with materials filled;
Our to-days and yesterdays
Are the blocks with which we build.”
—Henry Wadsworth Longfellow (1809–1882)
“The structure was designed by an old sea captain who believed that the world would end in a flood. He built a home in the traditional shape of the Ark, inverted, with the roof forming the hull of the proposed vessel. The builder expected that the deluge would cause the house to topple and then reverse itself, floating away on its roof until it should land on some new Ararat.”
—For the State of New Jersey, U.S. public relief program (1935-1943)