FRC guidance on reporting in times of uncertainty
Oct 15, 2020
On October 15, 2020, the Financial Reporting Lab of the UK Financial Reporting Council (FRC) released guidance covering some critical areas of focus for 2020 year-ends.
In view of COVID-19, many companies are facing a challenging year-end. While the uncertainty creates risks for annual reporting it also presents opportunities. The two new guides look at key elements in respect of resources, action, and the future and in respect of going concern, risk, and viability. Both guides:
- summarize key messages from earlier reports;
- provide an update on recent developments in corporate reporting;
- offer some thoughts regarding how corporate reporting can develop; and
- contain practical examples from reports and presentations released by companies.
Review the COVID-19: Resources, action, the future - a look forward and COVID 19: Going concern, risk, and viability - a look forward on the FRC's website.
