FRC launches new Whistleblowing Policy

In view of the importance of whistleblowing as a source of complaint and its growing attention from the public since the beginning of 2021, the Financial Reporting Council (FRC) launched a new Whistleblowing policy. The policy is designed to ensure protection of the personal identities of Whistleblowers so as to increase their confidence in the security and secrecy of handling of their reports. The FRC has a dedicated Whistleblowing webpage with a form for submission of Whistleblower reports about potential wrongdoing or misconduct in financial reporting or audits of listed entities.

Mr Marek Grabowski, CEO of FRC said, “Whistleblowers are typically individuals with an insider’s view of listed entities or their auditors. They are therefore an important and highly valued source of intelligence to the FRC. Through our new policy, we aim to ensure an efficient flow of intelligence from this important channel.”

Dr Kelvin Wong, Chairman of the FRC remarked, “As an independent and effective financial regulator, we encourage the public to come forward to report financial misconduct without fear or intervention. Confidence from whistleblowers is pivotal to the FRC’s ability to take proactive regulatory action to protect the public interest.”