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 Council main objects as defined in the FRAct are:
Professional accountants in Mauritius are subject to the regulation of the Mauritius Institute of Professional Accountants (MIPA) in accordance with the Financial Reporting Act 2004 (FRA 2004). Auditors are then subject to the oversight of the Financial Reporting Council (FRC) in accordance with the FRA 2004.