Thursday 15 August 2013

UK: FRC consults on strategic report guidance

The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 make amendments to the Companies Act 2006 and require, amongst other things, certain companies to prepare a strategic report. The Department for Business, Innovation and Skills asked the Financial Reporting Council to prepare non-mandatory guidance in respect of the strategic report. Today the FRC published for consultation its draft guidance and stated its hope that the new reporting requirements would encourage the preparation of more concise and relevant narrative reports: see here (pdf).

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