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<p>We are informed by the Financial Reporting Council that information necessary to
answer this question in full is not available. The following table provides the number
of current employees of the Financial Reporting Council (FRC), falling within each
salary range above £150,000:</p><p> </p><table><tbody><tr><td><p><strong>FTE Salary
Range</strong></p></td><td><p><strong>Number of Employees</strong></p></td></tr><tr><td><p>150k
– 175k</p></td><td><p>2</p></td></tr><tr><td><p>175k – 200k</p></td><td><p>3</p></td></tr><tr><td><p>200k
– 225k</p></td><td><p>4</p></td></tr><tr><td><p>225k – 250k</p></td><td><p>1</p></td></tr><tr><td><p>300k
– 325k</p></td><td><p>2</p></td></tr><tr><td><p>375k – 400k</p></td><td><p>1</p></td></tr></tbody></table><p>
</p><p>The FRC’s Remuneration Committee approves the annual reward structure, including
any bonuses awarded to employees. The FRC’s annual reports, which are laid before
Parliament, provide information about the FRC’s remuneration policies. This includes
the value of the total bonus pot as a percentage of the salary bill (a maximum of
3% in 2016/2017 where the Total Core Staff and related people costs is stated as £20,613,000),
individual salaries and bonuses for executive directors.</p><p> </p><p>The Office
for National Statistics concluded in December 2014 that the Financial Reporting Council
(FRC) was a public body within central government. The Department for Business Innovation
and Skills (as it then was) examined whether there was scope for further review. The
Department for Business, Energy and Industrial Strategy (BEIS) concluded in 2017 that
they should work with the FRC on the application of all relevant guidelines. This
includes pay guidance issued by HM Treasury and the Cabinet Office that requires advanced
approval from the Chief Secretary of the Treasury for remuneration packages at £150,000
and above.</p><p> </p><p>During the prolonged period in which the status of the FRC
as a public body was the subject of or pending review, decisions on the application
of the guidelines were taken by Departmental officials under the delegated authority
of the responsible departmental Accounting Officer.</p>
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