FRC announces changes to its Enforcement Publication Policies
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The Financial Reporting Council (FRC) has made changes to its Publication Policies for the Audit Enforcement Procedure (AEP) and the Accountancy and Actuarial Schemes.
The main change relates to the test to be applied, by the Conduct Committee, when considering whether to make an announcement regarding the opening of an investigation. Other changes are clarificatory.
The test to be applied by the Conduct Committee when considering whether to make an announcement regarding the opening of an investigation is set out at paragraph 10 of the AEP Publication Policy and paragraph 14 of the Publication Policy for the Schemes.
The language of the policy has been amended so that more neutral wording is adopted, rather than a presumption against publication. The test of necessity remains an important factor in determining whether to make an announcement regarding the opening of an investigation.
A link to the Publications Policy for the Audit Enforcement Procedure (AEP) is available here.
A link to the Publications Policy for the Accounting and Actuarial Schemes is available here.
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