Audit regulator to become Corporate Reporting Authority

The government plans to go ahead with overhaul of Financial Reporting Council, giving it more powers and holding directors to account with new civil sanctions, and dropping ARGA name

The FRC is going to be called the Corporate Reporting Authority when it gets the new statutory powers, which have been mooted since 2018 after the collapse of Carillion.

The old plan to name the new regulator the Audit, Reporting & Governance Authority (ARGA) has been rejected, as have proposals to introduce managed shared audits and new market share limits.

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