FRC launches project into smaller listed and AIM company reporting
11 Jul, 2014
The FRC has launched a project to evaluate and plan how it might assist smaller listed and AIM companies to address the quality of their reporting so as to improve confidence in the integrity of their financial statements and of the markets as a whole.
The project is aimed at achieving a step change in the quality of financial reporting of smaller listed and AIM companies over a three year period. The project will be in three phases:
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Phase 1 - gather and assess evidence of the root causes of the challenges and exploration of ways in which the FRC can support companies to make improvements.
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Phase 2 - implementation of supporting actions
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Phase 3 - evaluate whether the quality of financial reporting has improved.
The FRC would like to gather the views of both preparers and users of annual reports, both to understand the challenges that smaller companies encounter when preparing their annual reports and to also obtain input on suggestions as to how smaller companies can be helped to improve the quality of their reporting.
More information on this project and how to contribute can be found on the FRC website.
