UK: FRRP annual review and recommendations published

The Financial Reporting Review Panel - part of the Financial Reporting Council - has published, earlier than expected, its 2009 annual review and recommendations. The report is based on the Panel's review of 326 sets of accounts with year ends mainly falling between December 2007 and June 2008. The Panel concludes that the current standard of corporate reporting in the UK remains good but highlights concerns regarding the adequacy of disclosure by some companies in respect of:

• Principal risk and uncertainties in the business review (see p. 6)
• Liquidity (see p. 22)
• Management judgements and key estimation uncertainties (see p.15)
• Capital (see p. 16)