News items on s172 reporting

In its Annual Review of Corporate Reporting 2022/23, the Financial Reporting Council (FRC) noted that several companies, including large private companies, did not produce a section 172 statement which is a requirement for all companies except those that qualify as small or medium-sized.  A Financial Reporting Lab report sets out what investors are looking for in this area and how companies can improve their reporting to better meet investor needs.  

The FRC has previously published a set of tips which year-end reporters will also find useful when considering what content to include in a Section 172 statement, how to present it and how to facilitate the process of preparing the statement.  

This page includes all of our news on s172.

Related news

FRC Image

FRC updates its COVID-19 guidance for companies to include going concern considerations for interim reporters

14 May, 2020

The Financial Reporting Council (FRC) has updated its COVID-19 guidance for companies to include considerations for those preparing interim reports.

FRC Image

FRC, FCA and PRA issue Covid-19 guidance for companies and auditors

26 Mar, 2020

The Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA) have published a joint statement relating to the impact of Covid-19 on financial reporting.

ICAEW (Institute of Chartered Accountants in England and Wales) (lt green) Image

ICAEW UK GAAP update webinar

22 Jan, 2020

The Institute of Chartered Accountants in England and Wales (ICAEW) will be hosting a webinar outlining latest developments and implementation issues in UK GAAP and also recent changes to reporting regulations.

BEIS Image

Sir Donald Brydon issues his report on the quality and effectiveness of audit

19 Dec, 2019

Sir Donald Brydon has published his final report setting out his personal views on the quality and effectiveness of audit to the Secretary of State.

FRC Image

FRC publishes findings on the quality of corporate reporting in 2018/2019

30 Oct, 2019

The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting 2018/2019, which provides the FRC's assessment of corporate reporting in the UK based on evidence from a variety of sources, including the work of the FRC's own Corporate Reporting Review (CRR) team.

FRC Image

FRC publishes a statement on the Government's Green Finance Strategy

03 Jul, 2019

The Government has announced its Green Finance Strategy which recognises the role of the financial sector in delivering global and domestic climate and environmental objectives. In response, the Financial Reporting Council (FRC) has issued a joint statement with other financial regulators, including the Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) welcoming the strategy.

Corporate Governance Image

New Code launched for corporate governance of large private companies

14 Dec, 2018

A new code for the corporate governance of large private companies has been launched.

Book badge (green) Image

GC 100 provides guidance to directors on s172

29 Nov, 2018

The GC 100 has issued guidance which aims to provide practical help to directors on their performance of the section 172 duty.

FRC Image

FRC publishes findings on the quality of corporate reporting in 2017/2018

24 Oct, 2018

The Financial Reporting Council (FRC) has published its Annual Review of Corporate Governance and Reporting 2017/2018, which provides the FRC's assessment of corporate reporting in the UK based on evidence from a variety of sources, including the work of the FRC's own Corporate Reporting Review (CRR) team. The report also includes information on the level of compliance with the provisions of the UK Corporate Governance Code (“the Code”) as well as the quality of explanations and reporting provided by companies in their governance statements and committee reports.

FRC Image

FRC publishes revised Guidance on the Strategic Report

02 Aug, 2018

The Financial Reporting Council (FRC) has published revised Guidance on the Strategic Report encouraging companies to consider wider stakeholders and broader matters that impact performance over the longer term.

Corporate Governance Image

New company reporting requirements for private and public companies approved by Parliament

26 Jul, 2018

The Companies (Miscellaneous reporting) Regulations 2018 have been approved by Parliament.

Corporate Governance Image

FRC issues new UK Corporate Governance Code

16 Jul, 2018

The Financial Reporting Council (FRC) has published the new UK Corporate Governance Code together with revised Guidance on Board Effectiveness. The new Code applies for periods commencing on or after 1 January 2019.

Corporate Governance Image

BEIS issues legislation to deliver key corporate governance reforms on pay and stakeholder engagement

11 Jun, 2018

The Companies (Miscellaneous Reporting) Regulations 2018 have been laid before Parliament. These represent the legislative strand of the Government’s package of corporate governance reforms announced by BEIS in August 2017.

Paper clip (dk gray) Image

The Bruce Column — Where the Financial Reporting Council goes from here

12 Apr, 2018

To say that the Financial Reporting Council has been under fire recently would be an understatement. Corporate scandals, as ever, do occur. But behind the scenes efforts to strengthen the UK’s corporate governance Code continue. Robert Bruce, our regular columnist, has interviewed Paul George, the FRC’s Executive Director, Corporate Governance and Reporting, to find out what the future may hold.

FRC Image

FRC publishes Strategy for 2018/21

27 Mar, 2018

The Financial Reporting Council (FRC) has published its three year strategy for 2018/21 and its budget and levy proposals for the 2018/19 financial year.

FRC Image

FRC publishes Strategy for 2018/21

19 Dec, 2017

The Financial Reporting Council (FRC) has published its three year strategy for 2018/21 and its draft budget and levy proposals for the 2018/19 financial year.

FRC Image

FRC consults on a new-style UK Corporate Governance Code

05 Dec, 2017

The Financial Reporting Council (FRC) has today published a new-style UK Corporate Governance Code for consultation together with revised Guidance on Board Effectiveness and some questions on the future of the Stewardship Code.

FRC Image

FRC to delay finalisation of Strategic Report guidance

04 Dec, 2017

The Financial Reporting Council (FRC) has today announced that it is to delay the publication of its amended Guidance on the Strategic Report (“the Guidance”) until after the government has announced its legislative changes in respect of reporting on section 172.

FRC Image

FRC publishes findings on the quality of corporate reporting in 2016/2017

23 Oct, 2017

The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting 2016/2017, which provides the FRC's assessment of corporate reporting in the UK based on evidence from a variety of sources, including the work of the FRC's own Corporate Reporting Review (CRR) team.

Paper clip (dk gray) Image

The Bruce Column — making s172 more accessible

05 Oct, 2017

There has been growing pressure to make S172 of the Companies Act more effective in encouraging directors to explain how they have carried out their responsibilities and how the long-term sustainability of companies is achieved. Robert Bruce, our resident regular columnist takes a look at the latest developments.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.