​Under the Financial Reporting Council Ordinance (FRCO), the FRC has the power to direct an investigator to carry out an investigation into the way in which a PIE engagament was carried out, or into the possible contravention of the FRCO or misconduct committed by a PIE auditor or registered responsible person of a registered PIE auditor, and initiate enquiries into a possible relevant non-compliance with accounting requirements in the financial reports of listed entities.

The Department of Investigation and Compliance​ is responsible for carrying out the ​investigation and enquiry functions of the FRC.  It may initiate an investigation and/or enquiry based on complaints from the public, referrals from other regulators, or internal referrals arising from inspections of audit f​irms or the FRC’s own financial statements review programme.

​For further details of the FRC’s investigation function, please click here.
​For further details of the FRC's enquiry function, please click here​. ​​

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