 The council’s responsibilities include the oversight of public and private sector financial service providers, including accountants, auditors and actuaries.The tasks of the Financial Reporting Council are to set standards for corporate governance, reporting, auditing and actuarial practice; monitor and, where appropriate, enforce the application of those standards; and work with the accountancy and actuarial professions to promote the professionalism of their members.The Council and its Boards are engaged in international discussions with financial services regulators in the US, France, Germany, the European Commission and other countries.