This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

News items on the strategic report

The Strategic report is under the spotlight and is a constant area of FRC challenge. From ensuring that relationships and linkages between financial and non-financial reporting information are clearly explained to complying with the enhanced reporting under the EU non-financial reporting directive and providing better information on how boards have fulfilled their duty under s172 when taking decisions to promote the long term success of the company. There are many things to consider. The FRC draft updated Guidance on the Strategic Report will help companies to improve in these areas.

Risk reporting and viability statements is another area of FRC and investor scrutiny with calls for greater differentiation of the time periods used by different companies and sectors and a clear rationale for the period selected. Companies are encouraged to revisit their assessment of the risks and ongoing uncertainties regarding the effects of the EU referendum and impact of other systematic risks, making appropriate disclosures to reflect their latest analysis and how this has developed over the year.

This page includes a comprehensive collection of news items — organised chronologically — specifically on the strategic report.

Related news items

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.

European Lab seeks members for its second task force

13 Mar 2020

The European Financial Reporting Advisory Group (EFRAG) has published a call for candidates for members of a new project task force on reporting of non-financial risks and opportunities and linkage to the business model.

FRC issues advice to companies and auditors on coronavirus risk disclosures

18 Feb 2020

The Financial Reporting Council (FRC) has today published guidance for companies on disclosure of risks and other reporting consequences arising from the emergence and spread of Coronavirus (COVID-19).

ICAEW and WBCSD publish 'A Buyers guide to assurance on non-financial information'

21 Nov 2019

The Audit and Assurance Faculty of the Institute of Chartered Accountants in England and Wales (ICAEW) and the World Business Council for Sustainable Development (WBCSD) have jointly published ‘A Buyer’s guide to assurance on non-financial information’. The guide addresses the questions of what is assurance? How does it work? And how is it beneficial to users of nonfinancial information?

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.

Environmental reporting guidelines published

04 Feb 2019

Guidance to help companies comply with the Streamlined Energy and Carbon Reporting regulations, including greenhouse gas (GHG) reporting have been published.

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 publishes year-end advice to preparers in advance of the 2018/19 reporting season

25 Oct 2018

The Financial Reporting Council (FRC) has published a letter to Audit Committee Chairs and Finance Directors, in advance of the 2018/19 reporting season, highlighting changes to reporting requirements and key matters which should be considered in the preparation of forthcoming annual reports and accounts.

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 Lab report on on business model reporting and risk and viability reporting

18 Oct 2018

A new report from the Financial Reporting Lab of the Financial Reporting Council (FRC) considers how reporting practice has changed since the Lab published its original reports on business model reporting and risk and viability reporting.

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.

UK Government publishes response to its consultation on a streamlined approach to energy and carbon reporting

24 Jul 2018

The Department for Business, Energy and Industrial Strategy (BEIS) has published a response to its consultation which proposed a “streamlined and more effective energy and carbon reporting framework” for the UK.

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 reminds Boards of companies in the construction and business support services sectors of their reporting obligations

30 Jan 2018

The Financial Reporting Council (FRC) has published reminders to Boards of companies in the construction and business support services sectors of their reporting obligations. Although the FRC guidance is directed at one sector, in the light of the collapse of Carillion, the FRC states it is also relevant to other companies.

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 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’s Financial Reporting Lab issues report on risk and viability reporting

28 Nov 2017

The Financial Reporting Council’s (FRC’s) Financial Reporting Lab (“the Lab”) has published a report on risk and viability reporting. The report seeks to understand the views of companies and investors participating in the project on the key attributes of principal risk and viability reporting, their value and use. The report also provides illustrative examples of the types reporting that investors favour in this area.

We comment on the FRC's consultation - Draft amendments to Guidance on the Strategic Report - Non-financial reporting

23 Oct 2017

We have published our comment letter on the Financial Reporting Council's (FRC's) consultation on amendments to its Guidance on the Strategic Report.

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.

UK government consults on a streamlined approach to energy and carbon reporting

16 Oct 2017

The Department for Business, Energy and Industrial Strategy (BEIS) has published a consultation which proposes a “streamlined and more effective energy and carbon reporting framework” for the UK.

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.