Funding

The FRC has a wide range of activities. Some of those activities are subject to specific funding arrangements and/or are likely to experience considerable volatility from year to year (depending on the number and complexity of cases) and, therefore, cannot be subject to firm budgetary limits. The Directors believe that it is helpful to have a framework (the "Financial Management and Reporting Framework") within which to manage and report on the costs of its activities and how they are funded. Details are set out in Annex D of the Regulatory Strategy.

  FRC Pension Levy Fact Sheet 2008/09 (77kb)

  Consultation Paper: Proposals for future arrangements for funding the FRC's activities in relation to accounting, auditing and corporate governance (July 2008) (1.84mb)

Responses to Funding Consultation Paper (July 2008)

 FRC 2008/09 Levies  (109kb)

Responses to the FRC Levy Proposals 2008/09 are available below:

• Association of British Insurers
• Ernst & Young
• Friends Provident Life and Pensions Limited
• Grant Thornton
• Hundred Group of Finance Directors
• London Stock Exchange
• Norwich Union
• Quoted Companies Alliance

Details of the FRC 's proposed business levy and insurance and pension levies for 2008/09 are at:

 FRC Levy Proposals 2008/09 (165kb)

Details of the FRC 's business levy and insurance and pension levies for 2007/08 are at:

 FRC Pension Levy 2007/08 Fact Sheet

 FRC 2007/08 Levies (145kb)

 FRC Levy Proposals 2007/08 (178kb) 

Details of the FRC's business levy for 2006/07 are at:

 FRC Levy 2006/07 (36kb)

 FRC Levy Proposals 2006/07 (35kb)

Details of the Budget for 2006/07 are set out in the Plan & Budget for 2006/07 (Revised) 

The arrangements for 2005/06 were as follows:

  FRC Levy 2005/06 (7kb)

  FRC Levy Proposals 2005/06 (35kb)

Details of the Budget for 2005/06 are set out in the Plan & Budget for 2005/06

The FRC's funding arrangements for 2006/07 in relation to its responsibilities for actuarial standards and regulation will be as follows:

 Actuarial Standards and Regulation: Funding arrangements for 2006/07 (111kb)

 Final Proposals (135kb)

 FRC Consultation Paper: Actuarial Standards and Regulation - Funding the new regime (85kb)