FRC publishes revised guidance for auditors when agreeing to the publication of preliminary announcements

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18 Dec 2017

The Financial Reporting Council (FRC) has published revised guidance for auditors when agreeing to the publication of preliminary announcements.

The publication, Bulletin: The Auditor’s Association with Preliminary Announcements made in accordance with UK Listing Rules, provides guidance for the auditor concerning its responsibilities with regard to preliminary announcements. The updated Bulletin reflects:

  • changes to the UK listing rules since 2008;
  • changes to International Standards on Auditing (ISAs) (UK);
  • new guidance from the European Securities and Markets Authority (ESMA) about alternative performance measures; and
  • changes to the UK Corporate Governance Code and the principle that the board should present a fair, balanced and understandable assessment of the company’s position and prospects.

A press release and the Bulletin are available on the FRC website.

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