UK: FRC publishes draft plan, budget and levy proposals for 2014/15

The Financial Reporting Council has published its draft plan, budget and levy proposals for 2014/15: see here (pdf). Views are sought on the priorities identified by the FRC. Amongst other things, the FRC is proposing to assess the quality of board succession planning and consider how to develop best practice. It is also proposing to undertake a review of the progress made by major audit firms in improving the auditing of banks and building societies.