Understanding citizens' views on the work of the Financial Reporting Council

Financial Reporting Council (FRC) Research Project:

Understanding citizens' views on the work of the Financial Reporting Council: including audit, corporate governance and reporting

Summary

The FRC has a good and continuously developing record of engaging stakeholders through, for example, round table discussions and consulting widely on changes in regulations and guidance. The stakeholders who engage with the FRC tend to be from the professions the FRC regulates - audit, accountancy and actuarial work - plus their representative bodies, and those who rely on the information they produce - investors, pension fund trustees, company directors etc.

The FRC would like to better understand what is most important to a wider public in the conduct of its mission to promote transparency and integrity in business (for further detail visit the FRC website), and therefore for the development of its strategy. This research involves direct engagement with members of the public who, as investors in shares, on their own account or in ISAs or pensions, or as customers or employees of businesses, do not tend to engage with the necessarily technical consultations on proposed and actual changes to regulations and guidance.

The customer for the work is the FRC.

The FRC expects that research methods such as a citizens' jury, citizens' assembly, focus groups or surveys would be used, singly or in combination and to allow for:

The FRC would welcome proposals with recommended options and/or alternative approaches as options, with associated benefits and costs. Depending on the approach recommended, the project is expected to take place over a period of months, starting as soon as possible in 2019.

Budget

The budget for this project, including expenses and any respondent incentives, is up to £90,000 excluding VAT. A detailed breakdown of costs is required.

Evaluation criteria

The project proposal will be evaluated against the following criteria:

Closing date for tenders 5pm, 10 January 2019.

Please submit to h.grimshaw@frc.org.uk