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UK Financial Reporting Council

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UK May Water Down Powers of New Audit Regulator

by Starling Insights

Observations

Feb 05, 2025

UK ministers are reportedly considering limiting the powers of the country's long-awaited new accounting regulator — the Audit, Reporting and Governance Authority (Arga) — to balance regulatory oversight with economic growth, according to The Times.

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UK FRC Issued Record Fines in 2023

by Starling Insights

Observations

Jan 15, 2024

The UK Financial Reporting Council (FRC) imposed record-level fines on auditors during 2022/23, totaling £33.2 million. This represents an increase from £32.8 million in the previous year and an even larger spike from £19 million in 2020/21.