Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to improve the transparency in the work of the Financial Reporting Council.

In April 2018, my rt. hon. Friend the Secretary of State commissioned Sir John Kingman to lead an independent review of the Financial Reporting Council (FRC), the terms of reference of which included putting the FRC in a position to stand as a beacon for the best in transparency. Sir John reported on 18 December and made a number of recommendations on improving the transparency of the FRC. The Government welcomes the report and is considering how best to take the recommendations forward.