Publications 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 publications on s172.

Related Publications

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Governance in focus — On the board agenda 2024

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In the current environment, boards continue to be faced with challenges across all aspects of their remit making effective decision making ever more difficult as different stakeholders pull focus in different directions. Many companies are grappling with forecasting demand and pricing, supply chain disruption, other input cost pressures and challenges in attracting and retaining talent. At the same time boards, have to work hard to keep pace with developments in technology in order to remain ahead of both the opportunities and threats posed by innovations such as Generative AI.

Accounting roundup — Closing Out Image

Accounting roundup — Closing Out

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Closing Out is a one stop guide covering key corporate reporting issues to be aware of when approaching year-end and interim reporting.

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Accounting roundup — Closing Out 2022

10 Jan, 2023

Closing Out 2022 discusses the principal corporate reporting issues arising in respect of 31 December 2022 annual reports, covering areas of regulatory focus identified in the Financial Reporting Council’s (FRC's) Annual Review of Corporate Reporting 2021/2022 and issues arising from the current uncertain economic environment.

On the board agenda 2023 Image

Governance in focus — On the board agenda 2023

07 Dec, 2022

As 2022 draws to a close, our annual review of board topics has two objectives – first, to act as a reminder of key matters for the reporting season, and second, to help you set the agenda for the year ahead.

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Corporate Reporting Insights 2022 — Surveying FTSE reporting

08 Nov, 2022

Our latest survey of FTSE annual reports, Corporate Reporting Insights 2022, provides insights into annual reporting trends, focusing on areas where requirements have changed, where regulators are focusing and where innovative practices are emerging.

Accounting roundup-Closing Out 2021 Image

Accounting roundup — Closing Out 2021

16 Dec, 2021

Closing Out 2021 discusses the principal corporate reporting issues arising in respect of 31 December 2021 annual reports, covering areas of regulatory focus identified in the FRC’s Annual Review of Corporate Reporting 2020/2021, issues arising from climate change including new and forthcoming climate-related disclosures and developments in reporting standards.

Governance in focus — On the board agenda 2022 Image

Governance in focus — On the board agenda 2022

03 Dec, 2021

As 2021 draws to a close, our annual review of board topics will stimulate your thinking and help prepare you for the year ahead. Across the board, expectations of business are rising and it is this demanding environment which shapes the articles in this year’s publication.

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Governance in brief — FRC issues advice on annual reports for 2021/22 reporting season

11 Nov, 2021

The FRC issues advice on annual reports for 2020/21 reporting season

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26 Oct, 2021

Our latest annual reporting survey, Annual report insights 2021, provides insights into practices in annual reporting, focusing on areas where requirements have changed, where regulators are focusing or where innovative practices are emerging.

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Governance in focus — On the board agenda 2021

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As 2020 draws to a close, our annual review of board topics will stimulate your thinking and help prepare you for the year ahead.

Accounting Roundup - Closing Out 2019 Image

Accounting Roundup - Closing Out 2020

10 Dec, 2020

Closing Out 2020 discusses the significant corporate reporting issues relevant to 31 December 2020 annual reports, covering areas of regulatory focus identified in the FRC's annual review of corporate reporting 2019/20, issues arising from the COVID-19 pandemic and the current economic environment and developments in reporting standards and areas of investor interest.

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23 Nov, 2020

FRC issues advice on annual reports for 2019/20 reporting season

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Our latest annual reporting survey, Annual report insights 2020, provides insights into practices in annual reporting, focusing on areas where requirements have changed, where regulators are focusing or where innovative practices are emerging.

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28 May, 2020

Stay Tuned Online is an online financial reporting update, aimed at helping finance teams keep up to speed with IFRS and UK financial reporting issues. Each update lasts about an hour.

The new section 172(1) statement – observations from first reporters Image

The new section 172(1) statement – observations from first reporters

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This survey presents a picture of how the first wave of December year-end reporters have approached the new section 172(1) statement. It examines emerging practices and provides some example disclosures.

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13 Jan, 2020

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Accounting Roundup - Closing Out 2019 Image

Accounting Roundup - Closing Out 2019

10 Dec, 2019

Closing Out 2019 discusses the significant corporate reporting issues relevant to 31 December 2019 annual reports, covering areas of regulatory focus identified in the FRC’s Annual Review of Corporate Reporting 2018/2019 and the ESMA’s common enforcement priorities for issuers in the European Union, together with other developments in reporting standards and areas of investor interest.

Governance in focus — On the board agenda 2020 Image

Governance in focus — On the board agenda 2020

05 Dec, 2019

As 2019 draws to a close, our annual review of board topics will stimulate your thinking and help prepare you for the year ahead. After pieces on the economic outlook, the Nine Big Shifts and the “Social Enterprise”, we pull together, in one place, a series of articles reviewing many topics on the board agenda across four key themes – responsible business, risk & internal controls, remuneration and year-end reporting & assurance. Our annual review is, once again, a full read as there is much to consider.

Governance in brief — FRC issues advice on annual reports for 2019/20 reporting season Image

Governance in brief — FRC issues advice on annual reports for 2019/20 reporting season

14 Nov, 2019

The FRC has issued its Annual Review of Corporate Reporting and annual open letter to finance directors and audit committee chairs covering its perspectives on key developments and areas of focus for 2019/20 annual reports. The report sets out the FRC’s “expectations for corporate reporting to improve trust in business”, emphasising the annual report is a vehicle of trust and stewardship.

Need to Know - New reporting requirements for large private companies Image

Need to Know - New reporting requirements for large private companies

31 Oct, 2019

This Need to Know addresses the new reporting requirements for large private companies in annual reports for periods commencing on or after 1 January 2019 under the Companies (Miscellaneous Reporting) Regulations 2018 (SI 2018/860).

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