FRC “effective and independent”, says FRC

The Financial Reporting Council (FRC) has published its progress and planning report on the final quarter of 2008, giving both itself and company reporting a clean sheet in a period which saw a swathe of companies fold without warning.

The FRC which has been entirely inactive in the field of corporate governance (despite reports that the Financial Services Authority has been busier than ever), concluded that corporate reports for the last three months of 2008 were “relevant, reliable, understandable and comparable, and are useful for decision-making, including stewardship decisions”.

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