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Financial Reporting Council (FRC)
The functions we exercise in pursuit of our aim can be summarised as follows:
• promoting high standards of corporate governance
• setting, monitoring and enforcing accounting and auditing standard
• setting actuarial standards
• statutory oversight and regulation of auditors
• operating an independent investigation and discipline scheme for public interest cases
• overseeing the regulatory activities of the professional accountancy and actuarial bodies
Accounting Standards Board (ASB):
The role of the Accounting Standards Board (ASB) is to issue accounting standards in the United Kingdom. It is recognised for that purpose under the Companies Act 1985. It took over the task of setting accounting standards from the Accounting Standards Committee (ASC) in 1990.
Auditing Practices Board (APB)
The Auditing Practices Board (APB) was established in April 2002, and replaces a previous APB which had been in place since 1991.......

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Approximate Word Count: 520
Approximate Pages: 3 (250 words per double-spaced page)

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