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:
“If rightly made, a boat would be a sort of amphibious animal, a creature of two elements, related by one half its structure to some swift and shapely fish, and by the other to some strong-winged and graceful bird.”
—Henry David Thoreau (1817–1862)
“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)
“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)