{"id":1517,"date":"2020-09-30T09:07:26","date_gmt":"2020-09-30T09:07:26","guid":{"rendered":"https:\/\/goc2020.govmu.org\/24032021_frc\/?page_id=1517"},"modified":"2025-11-06T06:15:30","modified_gmt":"2025-11-06T06:15:30","slug":"the-frc","status":"publish","type":"page","link":"https:\/\/frc.govmu.org\/frc\/?page_id=1517","title":{"rendered":"The FRC"},"content":{"rendered":"\t\t
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The FRC<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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About the FRC<\/strong><\/p>\n<\/div>\n

The Financial Reporting Council (FRC), a body corporate set up under the Financial Reporting Act 2004. It is an organisation under the aegis of the Ministry of Financial Services, Good Governance and Institutional Reforms. The FRC is mainly responsible for promoting confidence in corporate reporting and good corporate governance.<\/span><\/div>\n
 <\/div>\n
The Council main objects as defined in the FRAct are:<\/div>\n
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  • to promote the provision of high quality reporting of financial and non-financial information by public interest entities.<\/li>\n
  • to promote the highest standards among licensed auditors<\/li>\n
  • to enhance the credibility of financial reporting and<\/li>\n
  • to improve the quality of accountancy and audit services<\/li>\n<\/ul>\n
    The benefits of good Financial Reporting are:<\/div>\n
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    • promoting private sector growth and reducing volatility through<\/li>\n
    • Strengthening countries’ financial architecture and reducing the risk of financial market crises together with the associated negative economic impact<\/li>\n
    • Contributing to foreign direct and portfolio investment<\/li>\n
    • Helping to mobilize domestic savings<\/li>\n
    • Facilitating the access of smaller-scale corporate borrowers to credit from the formal financial sector by lowering the barrier of high information and borrowing costs<\/li>\n
    • Allowing investors to evaluate corporate prospects and make informed decisions resulting in lower cost of capital and better allocation of resources and<\/li>\n
    • Facilitating integration into global financial and capital markets<\/li>\n<\/ul>\n
      Financial reporting is also a building block of a market-based monitoring of companies, which allows shareholders and the public at large to assess management performance, thus influencing behaviour. High quality financial reporting may also contribute to improving the assessment and collection of taxes on corporate profits<\/div>\n
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      Operating Arms of the FRC<\/strong><\/p>\n<\/div>\n

      The operating arms of the FRC would be the Audit Practice Review Unit and the Financial Reporting Monitoring Unit. Each unit will be supported by a Panel of Experts<\/div>\n
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      Members of the Council<\/strong><\/p>\n

      [Vacant], <\/strong>Chairman<\/div>\n
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      Council Members
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      Mr Ramsamy Chinniah\u00a0 \u00a0<\/p>

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      Second Deputy Governor of the Bank of Mauritius
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      Mr Desire Vencatachellum<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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      Chief Executive of the Financial Services Commission<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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      Mr Girshan Jheelan<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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      Assistant Permanent Secretary of the Ministry of Financial Services and Good Governance<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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      Mrs Prabha Divanandum Chinien<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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      Registrar of Companies (appointed on 20 January 2005)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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      Mr Matthew\u00a0John Lamport

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      Senior Lecturer, Faculty of Law and Management, University of Mauritius
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      [Vacant]<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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      Representative of the financial services sector<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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      Mr Ravin Seechurn<\/p>

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      Mr Dev Hurkoo<\/p>

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      Chairperson of MIPA
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      Chairperson of the Mauritius Institute of Directors
      (appointed on 18 October 2024)<\/p>\n

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      [Vacant]<\/p>

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      Representative from the National Committee on Corporate Governance

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      Mr Pawan Rai Seenarain\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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      Elected member of MIPA\u00a0 \u00a0 \u00a0
      (appointed on 10 October 2025)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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      Mr Viswajithsingh Tuhobol<\/p>

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      Chief Executive Officer of FRC<\/p>

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      Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      The FRC About the FRC The Financial Reporting Council (FRC), a body corporate set up under the Financial Reporting Act 2004. It is an organisation under the aegis of the Ministry of Financial Services, Good Governance and Institutional Reforms. The FRC is mainly responsible for promoting confidence in corporate reporting and good corporate governance.   The …<\/p>\n

      The FRC<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1517","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=\/wp\/v2\/pages\/1517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1517"}],"version-history":[{"count":86,"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=\/wp\/v2\/pages\/1517\/revisions"}],"predecessor-version":[{"id":3822,"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=\/wp\/v2\/pages\/1517\/revisions\/3822"}],"wp:attachment":[{"href":"https:\/\/frc.govmu.org\/frc\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}