The Financial Reporting Council (FRC) has announced its levy on listed companies for 2006/07. The FRC confirmed its previous proposals that the levy rates per m of capitalisation for 2006/07 will be 10% lower than those which applied in 2005/06. The FRC's 2006/07 Plan & Budget sets out the major activities and projects which the FRC proposes to carry out in 2006/07. The FRC's core operating costs for accounting, auditing and corporate governance are funded in equal proportions by the government, the accountancy profession and by the levy on listed companies.
FRC announces listed companies levy
25th May 2006