Financial Reporting Council clarifies its role in investigating the collapse of UK retailer BHS following criticism.
The UK’s governance watchdog has responded to criticism of its response to the collapse of retailer BHS, saying it can only investigate accountants, auditors and actuaries.
A letter from the Financial Reporting Council (FRC) addressed to Simon Walker, director general of the Institute of Directors (IoD), confirms the regulator is looking into whether any members of the professions it supervises were involved in failures of professional conduct.
Stephen Haddrill, chief executive of the FRC, said: “We are looking into the events at B
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