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FRC publishes thematic review findings of IFRS 16 company disclosures

  • FRC (United Kingdom Financial Reporting Council) Image

Nov 05, 2019

On November 5, 2019, the UK Financial Reporting Council (FRC) published the results of a thematic review looking at the interim disclosures made by companies in the first year of application of IFRS 16, "Leases".

The review identified that there are a number of areas where disclosure around IFRS 16 could be improved. Notwithstanding that half-yearly disclosures are less extensive than those of a full year, the FRC is of the opinion that “some companies did not sufficiently explain the impact of adopting IFRS 16”. The FRC expects that disclosures in full year reports will be more comprehensive.

Review the press release and IFRS 16 thematic review on the FRC's website.

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