UK: FRC publishes feedback statement in respect of disclosure framework discussion paper

Last year the Financial Reporting Council published a discussion paper Thinking about financial reporting disclosures in a broader context: see here (pdf). The purpose of the paper was to seek views on a 'road map' for the development of a disclosure framework for financial reporting. A feedback statement has now been published: see here. The statement notes broad support amongst respondents for a disclosure framework and for the content of the FRC's paper. The FRC also notes that the IASB should take the lead in the development of a disclosure framework and in this regard several recommendations are made.