The newsletter “Setting the Standard” covers the following areas: 

• Narrative Reporting – FRC Exposure Draft ‘Guidance on the Strategic Report” published in August 2013.
• The activities of the FRC in influencing the developments of IFRSs.
• The FRC’s tentative views on the IASB discussion paper ‘A review of the Conceptual Framework’ especially the tentative view that “the Framework should clearly acknowledge the importance of prudence (or caution), accountability (or stewardship) and reliability”.  The newsletter also reminds readers that the FRC in partnership with the European Financial Reporting Advisory Group (EFRAG) and the French, German and Italian accounting standard setters has produced seven thought-leadership bulletins ‘Getting a Better Framework’.
• FRED 49: Draft FRS 103 ‘Insurance Contracts’ and FRED 50: Residential Management Companies. 

Reminders are also given of: 

Upcoming FRC meetings

• 22 October – Narrative Reporting
• 26 November – Conceptual Framework joint event with the Institute of Chartered Accountants in England and Wales (ICAEW).
• 27 November - Conceptual Framework joint event with The Confederation of British Industry (CBI).

Recent FRC responses to the IASB: 

• Regulatory Deferral Accounts
• Leases
• Bearer Plants
• Financial Instruments 

Comment deadlines for a number of FRC and IASB proposals. 

Please click here for the full newsletter on the FRC website.