Friday 21 October 2016

UK: FRC publishes annual review of corporate reporting

The Financial Reporting Council has published its annual review of corporate reporting: see here (pdf). Whilst noting, in the report's executive summary, that the complexity and breadth of corporate reporting makes it impossible to assess the overall quality of corporate reporting in a single sentence, the FRC states that "[c]ompliance with the accounting framework, particularly by larger public companies, is generally good and the introduction of the strategic report has improved the quality of narrative reporting. However, there is room for further improvement, particularly as not all companies provide sufficient balance".

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