On Jul. 30, UK FRC stated minor amendment to sanctions procedure.
UK FRC issued item FRC makes minor amendment to Auditor Regulatory Sanctions Procedure and the Crown Dependencies’ Recognised Auditor Sanctions Procedure.
Item Overview
UK FRC is to make a minor amendment to the Auditor Regulatory Sanctions Procedure (ARSP) and Crown Dependencies' Recognised Auditor Sanctions Procedure (CD RASP).
Amendment will transfer responsibility to appoint a secretary to Independent Sanctions Tribunal from FRC’s Conduct Committee to FRC’s People Committee, on Nov. 1, 2026.
Identical changes will be made to paragraph 14.3 of the ARSP and CD RASP terms.
