The UK’s Financial Reporting Council (FRC) has held discussions over the last six months with companies, investors, auditors and other interested parties following the release of its discussion paper, Effective Company Stewardship: Enhancing Corporate Reporting and Audit, in January 2011. The FRC has recently issued two additional reports following these discussions: ‘Boards and Risk: A Summary of Discussions with Companies, Investors and Advisers’ and ‘Effective Company Stewardship: Next Steps’.