Continuing a process initiated last year at UKSA's request, the FRC held five “Lifting the lid on the FRC 2020” virtual meetings on consecutive afternoons to discuss issues of concern to private investors.
These were attended by invitation by UKSA and ShareSoc members. They were held each afternoon in the week beginning 23rd November 2020. They covered 1) Corporate Reporting Review and the UK Endorsement Board, 2) Audit, Reporting and Governance Authority (ARGA) Transformation, 3) Enforcement, 4) Audit Quality and Standards and 5) Corporate Governance and Stewardship. The FRC, eventually to be ARGA, is the overall regulator of UK corporate annual reports, which are probably the primary source of business and financial information for shareholders in UK plc. They have been criticised for not being tough enough and allowing some of the recent past corporate scandals to occur but are now progressing the recommendations of the Kingman and Brydon Reports that they do not need legislation for. Last years and these meetings are a reflection of the increasing attention being paid by regulators to the views and needs of private investors and their importance to the governance of companies.
