FRC Slides 3 Dec 2018, How to Complain and Appeal for Volunteers

I have received this feedback from the FRC “Thank you very much for rounding up a great audience on Monday, we are very pleased with how the event went. Please find attached the slides and feel free to circulate them to attendees.” So, here are the slides.

Lifting the Lid Event Slides – 3 December 2018

The FRC stressed they want to hear our complaints about companies and auditors. If you have a complaint then send it to the FRC complaints email oversight@frc.org.uk. If you wish to make a more general point or are not sure where to direct you complaint to, then send it to Jen Sisson’ s email j.sisson@frc.org.uk . Carol Page who heads the Corporate Reporting Review team said she was happy to receive email and her email is c.page@frc.org.uk

Following the success of the FRC event on Monday 3 Dec, I would like to move private investor engagement with the FRC to the next stage. On Monday a number of opportunities were mentioned for engagement, including:

• the audit and ethical standards review exercise (we need 10-12 private investors to get together with the FRC ). We have agreed with the FRC  Thursday 24^th January 2019 for this UKSA/ ShareSoc roundtable discussion hosted by the FRC on audit and ethical standards.
• review of auditors’ going-concern reporting
• the review of the Stewardship Code (this may just be an conventional consultation via email)
• the Reporting Lab projects. Leon Boros has volunteered to help with this, but we need more volunteers.
• the (new) Audit Lab projects
• the project on the Future of Corporate Reporting
• Contested Tribunal Hearings  (in respect of FRC enforcement cases) which are held in The International Dispute Resolution Centre. 70 Fleet Street, LONDON, EC4Y 1EU. see https://www.idrc.co.uk . The FRC encouraged individual investors to attend cases relevant to them.

It would be good if we create a pool of selected private investors, who could attend meetings on specific topics and can receive emails on selected topics (as above) from the FRC. A few people are starting to show a real interest in getting involved. Others when they read this blog item may wish to volunteer. Please do!

I  want to create a system which will help and encourage selected members to get involved in the things the FRC are already doing and ensure the FRC listen to individual investors’ views.

Please send your name to the ShareSoc office info@sharesoc.org  if you would like to get involved in any of the above, stating your particular interest(s).

Cliff Weight, Director, ShareSoc