Britain's audit watchdog, the Financial Reporting Council (FRC), has delivered a critical assessment of corporate reporting, describing it as 'corporate guff'. FRC CEO Richard Moriarty indicated that when company boards adopt a defensive, box-ticking approach, their focus on innovation and growth diminishes.
Audit Watchdog Criticises 'Corporate Guff' from Company Boards
UKPulse Money DeskBritain's audit watchdog, the Financial Reporting Council (FRC), has criticised company boards for producing 'corporate guff', stating that a defensive, box-ticking approach hinders innovation and growth.
- The Financial Reporting Council (FRC) has issued a 'surprise verdict' regarding corporate reporting.
- FRC CEO Richard Moriarty stated that boards focused on 'defensive posture box-ticking' are less focused on innovation and growth.