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What the Clarke review means for FRC sanctions regime

Tim Crockford and James Roberts, partners at law firm Clyde & Co, examine the key findings and recommendations in the independent Clarke review into the scope and effectiveness of the Financial Reporting Council's (FRC) sanctions regime   

The Financial Reporting Council (FRC) has published the much anticipated Clarke report of the review of its sanctions regime for accountants under the Accountancy Scheme (contained in the Sanctions Guidance) and the Audit Enforcement Procedure (AEP) (contained in the Sanctions Policy). 

The review was carried out by an independent panel chaired by recently retired Court of Appeal Judge Sir Christopher Clarke and heard submissions from a wide range of interested parties.

In its report, the review panel made 17 recommendations to the FRC for consideration. Below is a summary of some of the key points:

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