Thursday, 6 February 2014

UK: FRC open meeting - discussion of the priorities for 2014/15

Last month the Financial Reporting Council held an open meeting to discuss its priorities for 2014/15. A summary of the presentations and discussions has been published: see here (pdf). At the event an overview was provided of the current state of governance and engagement, including the following issues requiring attention: the quality and effectiveness of internal controls; the extent to which companies, markets and policymakers were taking a sufficiently long-term view; and lack of clarity in some reporting on strategy, business models and risks. It was also noted that engagement by investors with companies was rising but that there was considerable room for improvement.

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