AI will not replace auditors’ judgment, says regulator chief Accountancy The rise of AI presents a critical moment for the accountancy profession to prove that its “value-add” goes beyond tasks that can be automated, according to the industry’s watchdog boss. Speaking to CityAM, Richard Moriarty, chief executive of the Financial Reporting Council (FRC), said that with every technological shift, the accountancy sector loses low-level [...]
How the accounting watchdog is looking to unleash the City News As Richard Moriarty gripped the sides of a podium and spoke freely from a sheet of bullet points at the London Stock Exchange in September, a warmth was stirring among certain City executives in the room. The tie-less career regulator, boss of the audit watchdog, the Financial Reporting Council, laid out his plans to shake [...]
Audit watchdog plans to ditch ‘environment’ focus in growth push Investing The audit watchdog is planning to remove references to the “environment” and “society” from a code setting standards for City investors in a bid to simplify reporting processes and get behind the government’s push for growth, CityAM can reveal. In a consultation document today, the Financial Reporting Council (FRC) will reveal plans to make a number [...]
City row erupts against proxy advisers over executive pay June 10, 2024 Proxy voting advisers, which recommend how shareholders vote at company meetings, have often blocked votes to hike executive pay
Accounting watchdog: We must regulate so there is ‘a net benefit for UK PLC’ May 7, 2024 The head of the country’s accounting watchdog has said the agency must regulate in a manner that has “a net benefit for UK PLC”.