The UK Financial Reporting Council (FRC) has published its annual report and accounts for 2025/26.
The report sets out the highlights from the regulator’s work over the past year, including:
- Updates to the UK Stewardship Code
- A revised supervisory approach, which will take effect for 2026/27
- Revosed audit enforcement procedures
- New measures to make audits more proportionate for SMEs
- Guidance for audit firms on AI tools
FRC CEO Richard Moriarty stated: “I am pleased to set out the progress we have made as an organisation in 2025/26, a period characterised by substantial change and evolving stakeholder expectations. Our guiding principle has been to ensure we can demonstrably enhance the regulatory environment to better support growth in the UK by underpinning investor and broader public confidence in corporate governance, reporting, audit and actuarial work.”
