The author of a review into the Financial Reporting Council (FRC) has written to the business select committee to protest that the Queen’s Speech failed to include FRC reforms.
The author of a report recommending extensive reform of the UK’s financial reporting and audit watchdog is unhappy with its progress. Indeed, Sir John Kingman, the chair of Legal & General, has written a letter to parliamentarians revealing his concern that unfinished reforms to the Financial Reporting Council (FRC) means it could “drift on,” without the powers it needs.
The letter, sent to Rachel Reeves MP, chair of the influential business select committee in the House of Commons, notes that the recent Queen’s Speech, setting out the government’s legislative programme, failed to include action on FRC reforms.
Sir John co
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