The ACT took a significant part in the FRC’s updated and revised guidance on “going concern” in 2008 and 2009 during the financial crisis. We believe that the guidance has been useful to companies and their boards.
The FRC has now appointed Lord Sharman to inquire into the topic. The Sharman Inquiry published a call for Evidence in May 2011 and the ACT has now provided comments to the Inquiry, although we do not see the need for significant change.
The Sharman Inquiry’s call for evidence is available here: http://www.frc.org.uk/about/sharmaninquiry.cfm
