UK

Amey Defence Services Catterick Refurbishment Contract Opportunity

The UK government has published a future opportunity notice for refurbishment works at Catterick, with an estimated contract value between £870,000 and £4,500,000. Amey Defence Services is seeking Expressions of Interest from potential subcontractors who must meet specific criteria, including acting as a Main Contractor and holding Constructionline Gold verification.

Biogas Site Electrocution: Two Companies Fined After Worker Death

The UK Health and Safety Executive (HSE) announced that two companies, Willand O&M Ltd and New Wave Marine Ltd, have been fined following the death of Carl Parsons and serious injury to Luke Madavan at a Devon biogas site. The incident occurred when a cherry picker struck an overhead powerline, and investigations revealed ignored safety warnings.

FRC Consultation on Temporary Amendment to Third Country Auditor Policy

The UK's Financial Reporting Council (FRC) is consulting on a temporary amendment to its Third Country Auditor (TCA) policy. The proposed change would allow auditors of Chinese-registered entities listing Global Depositary Receipts (GDRs) in London to use Chinese Standards on Auditing (CSAs) temporarily, aiming to boost capital flow and London's market competitiveness.

Financial Reporting Council Chair Sir Jan du Plessis to retire

The Financial Reporting Council (FRC) announced that its Chair, Sir Jan du Plessis, will retire at the end of September 2026. His tenure has been marked by significant reforms in audit, corporate governance, and reporting standards.

FRC Closes Investigation into Ernst & Young LLP Audit

The UK's Financial Reporting Council (FRC) has closed its investigation into audits conducted by Ernst & Young LLP for a Public Interest Entity for the years 2021 and 2022. The FRC's Executive Counsel decided not to bring enforcement action against the firm.

FRC Feedback on UK XBRL Taxonomy Proposals

The Financial Reporting Council (FRC) has published a feedback statement on proposed technical changes to the UK and Irish Digital Reporting Taxonomy Suite. The statement summarises stakeholder responses to a discussion paper and will inform the FRC's ongoing development of the Taxonomy project.

FRC Amends FRS 102 for Balance Sheet and Profit/Loss Accounts

The Financial Reporting Council (FRC) has issued amendments to FRS 102, effective for accounting periods beginning on or after January 1, 2027. These changes update the framework for companies adapting their balance sheet and profit and loss account formats, maintaining alignment with IFRS. Entities not adapting their formats will not be affected.

Pension Value, Costs, and Service Quality Publication Proposals

The FCA, DWP, and The Pensions Regulator have proposed new measures requiring pension schemes to publish data on performance, costs, and service quality. These proposals aim to ensure savers receive good value and are open for comment until March 8, 2026.

TPR Data: Shift from Savings to Pensions System, Warns Smaller Schemes

New data from The Pensions Regulator (TPR) shows a significant shift towards in-scheme retirement options, with 13.4 million members now having access to drawdown. TPR urges smaller pension schemes to improve their offerings or consider consolidation.

Ben Gunnee appointed Interim Executive Director, Market Oversight

Ben Gunnee appointed Interim Executive Director, Market Oversight