Corporate fiduciary 'set to be examined' by the FRC

Corporate fiduciary may be among the issues earmarked for examination by the Financial Reporting Council (FRC), as it sets out to investigate the lessons learned from the global banking crisis.

The group will examine evolving markets and their impact on corporate fiduciary in terms of reporting, accounting and auditing of non-financial service companies.

It is expected the early findings will be published in the autumn and the advisory body is to be made up of six financial executives, including senior individuals from firms such as PricewaterhouseCoopers and BlackRock.

Stephen Haddrill, chief executive of the FRC and chair of the collective, remarked: "I am delighted [professionals] from business and the accountancy profession have agreed to ... help the FRC identify key lessons from the crisis and the way markets are now developing."

Last month, the institution published the first UK stewardship code, which covered principles such as monitoring of investee companies and reporting to clients.ADNFCR-2318-ID-19916392-ADNFCR