Your managing director has approached you saying that he is ‘confused at all the different accounting bodies that have replaced the old Accounting Standards Committee’.

You are required to draft a memorandum to your managing director explaining the purpose, a description of the type of work and, where applicable, examples of the work to date of the following:

(a) Financial Reporting Council

(b) Accounting Standards Board

(c) Financial Reporting Review Panel

(d) Urgent Issues Task Force