UK: FRC annual report identifies areas for improvement

The Financial Reporting Council published its annual report yesterday: see here (pdf). In his section of the report, the FRC's chief executive, Stephen Haddrill, identifies areas where further work is required, including understanding the causes of poor quality reporting by some smaller listed and AIM quoted companies. It is also noted that the FRC is discussing with the Department for Business, Innovation and Skills the extent to which faults in reporting and auditing can be made public where they do not amount to misconduct.