UK: FRC publishes disclosure framework discussion paper

The Financial Reporting Council has published a discussion paper titled Thinking about financial reporting disclosures in a broader context: see here (pdf). The purpose of the paper is to seek views on what is a described as a 'road map' for the development of a disclosure framework for financial reporting. In its discussion paper the FRC states, amongst other things, that disclosures within financial reports need to be re-focused on their purpose: providing investors with information that is useful for making their resource allocation decisions and assessing management’s stewardship.