Reporting Council (FRC) has published a four-page list of factors today
aimed at the boards and management of the
350, in the belief that risks to confidence in corporate reporting and
governance are higher than they have been for some years.
‘Corporate reporting and auditing will be particularly challenging this year
and needs to be matched by increased diligence and then clarity as to the basis
on which judgements have been exercised,’ Paul Boyle, FRC chief executive, said.
The FRC believes existing accounting standards, if applied with appropriate
professional judgement, continue to be ‘fit-for-purpose’.
However, FRC said some companies might find their precise circumstances were
not expressly provided for in standards which are predominantly
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The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
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